Bollinger Bands Custom Indicator

Beginner Questions
1

I’m looking a bollinger bands indicator that will let me choose input data of median price instead of the default close price!

2

This isn’t called a “Bollinger Band”, but you can construct it just by drawing an EMA of the median price and two standard deviations of it.

I’d prefer “typical price” (H+L+C/3) to “median price”.

3

What’s the problem with default sitting? I use default sitting on H4 time frame during range market only! On the other hand, I use moving average crossover trading strategy for the trendy market!

4

Bollinger Bands that comes with MT4 will let me Median Price but it will not let remove the middle line which I don’t need because I use a 26 ema instead and the Bands indicator that comes with MT4 will let me remove the middle line but it won’t let me use median price. I use ovo’s omnia bar for Renko with wicks and that’s why I would like to use median price, it draws a little smoother.

found this one, but it doesn’t paint, must be old code:

[CODE]
//±-----------------------------------------------------------------+
//| Better Bollinger bands.mq4 |
//| mladen |
//±-----------------------------------------------------------------+
#property copyright “mladen”
#property link "[email protected]"

#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Green
#property indicator_color2 Green
#property indicator_color3 Gray

//
//
//
//
//

extern int BandsLength = 20;
extern double BandsDeviation = 2.0;
extern int AppliedPrice = PRICE_CLOSE;

//
//
//
//
//

double MaBuffer[];
double UpperBand[];
double LowerBand[];
double tBuffer[][4];

//±-----------------------------------------------------------------+
//| |
//±-----------------------------------------------------------------+
//
//
//
//
//

int init()
{
SetIndexBuffer(0,UpperBand);
SetIndexBuffer(1,LowerBand);
SetIndexBuffer(2,MaBuffer);
return(0);
}
int deinit()
{
return(0);
}

//±-----------------------------------------------------------------+
//| |
//±-----------------------------------------------------------------+
//
//
//
//
//

#define iMt1 0
#define iMt2 1
#define iUt1 2
#define iUt2 3

//
//
//
//
//

int start()
{
int counted_bars=IndicatorCounted();
int limit,i,r;

if(counted_bars < 0) return(-1);
if(counted_bars>0) counted_bars–;
limit = Bars-counted_bars;
if (ArrayRange(tBuffer,0) != Bars) ArrayResize(tBuffer,Bars);

//
//
//
//
//

double alpha = 2.0/(BandsLength+1.0);
for (i=limit, r=Bars-i-1; i>=0; i–,r++)
{
double price = iMA(NULL,0,1,0,MODE_SMA,AppliedPrice,i);

     //
     //
     //
     //
     //
     
        tBuffer[r][iMt1] = tBuffer[r-1][iMt1] + alpha*(price           -tBuffer[r-1][iMt1]);
        tBuffer[r][iUt1] = tBuffer[r-1][iUt1] + alpha*(tBuffer[r][iMt1]-tBuffer[r-1][iUt1]);
           double dt  = ((2-alpha)*tBuffer[r][iMt1]-tBuffer[r][iUt1])/(1-alpha);
        
        tBuffer[r][iMt2] = tBuffer[r-1][iMt2] + alpha*(MathAbs(price-dt)-tBuffer[r-1][iMt2]);
        tBuffer[r][iUt2] = tBuffer[r-1][iUt2] + alpha*(tBuffer[r][iMt2] -tBuffer[r-1][iUt2]);
           double dt2 = ((2-alpha)*tBuffer[r][iMt2]-tBuffer[r][iUt2])/(1-alpha);

     //
     //
     //
     //
     //
     
     MaBuffer[i]  = dt;
     UpperBand[i] = dt+BandsDeviation*dt2;
     LowerBand[i] = dt-BandsDeviation*dt2;
  }

return(0);
}
[/CODE]

5

So, you are trying to make here a trading EA based of BB, isn’t?

6

The normal way around that, with trading software, is to use the same colour-setting as the background for the line you want to get rid of: that way it will still technically be there, but you won’t be able to see it, which is the desired result?