The Advanced Bands indicator is a custom indicator based on the classic Bollinger Bands as created by John Bollinger. Generally, Bollinger Bands are created by adding/subtracting a number of standard deviations from the price. Advanced Bands also creates bands the same way and adds more features to be more useful for traders.

---

FEATURES

---

• Three levels of bands (inside, outside, extreme) and a moving average can be plotted
• Area between bands can be filled and highlighted
• Number of deviations for each band can be changed
• Customizable color, size, and visibility of all GUI objects
• Bands and Price crossings can be shown on the chart
• Trade signals are calculated and can be set to trader in many ways
• Indicator statistics are managed and can be shown on the chart

---

PARAMETERS

---

The Advanced Bands indicator has many configurable parameters. This allows for all aspects of the indicator to be changed for the user’s preferences. By default, the indicator is designed to work without any changes by the user. The parameters are divided into the following categories:

• Yancy Indicator Parameters
• Bollinger Bands Parameters
• Indicator Statistics Parameters
• Inside Bands Parameters
• Outside Bands Parameters
• Extreme Bands Parameters
• Moving Average Band Parameters
• Crosses Parameters
• Signals Parameters
• Message Parameters
• Quite Time Parameters
• Debug Parameters

It should be noted that the user does not have to change any parameters for the indicator to work. All parameters have default values that have the lowest impact on the indicator and user. The Advanced Bands indicator is designed to work perfectly by just placing it on a chart.

---

Yancy Indicator Parameters

---

These parameters control the overall functionality of the indicator. More specifically, it controls how the Advanced Bands indicator is used within the trading terminal. The parameters in this section are:

IndicatorName – Default: Advanced Bands

This is the indicator name that is displayed in the chart data window. Changing this value does not impact the indicator’s calculations.

IndicatorOffset – Default: 0

The indicator calculations are made on the current data bar by default. This value can change the default and force calculations to be made based on previous bars. It is recommend to leave this parameter set to the default value.

---

Bollinger Bands Parameters

---

The advanced bands basic parameters control how the indicator is calculated and used. Parameters in this section are:

Enable Bollinger Bands Module – Default: false

Other YFX indicators can use data in the Advanced Bands indicator. This functionality can be enabled by setting this parameter to ‘true’. The integration is disabled by default and the value is set to ‘false’.

Bollinger Bands Periods – Default: 20

Number of periods used in calculating the Bollinger Bands.

Bollinger Bands Applied Price Series – Default: “Closing Price”

Price series to use in calculating Bollinger Bands.

Inside Standard Deviations – Default: 1

Number of standard deviations to use in calculating inside bands.

Outside Standard Deviations – Default: 2

Number of standard deviations to use in calculating outside bands.

Extreme Standard Deviations – Default: 3

Number of standard deviations to use in calculating the extreme bands.

Band Break Detection Method – Default: false

Band breaks can be detected using the open or close price. Breaks can also be detected using the high or low prices. If this parameter is set to true, then the break is detected.

Points Margin On Band Break Signal – Default: 0.0

A margin of error can be used when detecting band breaks. That value can be stored in this parameter. By default, no margin is used and breaks are measured in absolute terms.

---

Indicator Statistics Parameters

---

The indicator statistics parameters are used to control how the indicator statistics are managed. Parameters in this section are:

Enable Bollinger Bands Statistics – Default: false

Enable the calculation of Bollinger Bands statistics while the indicator is running. The statistics are shown in the comments section of the chart and can be customized by the following flags.

Display Statistics Header – Default: true

If true, then the statistics header is displayed. Otherwise the header is not displayed. This parameter is only used if the statistics are enabled.

Display Ticks Summary – Default: true

Display the summary of all ticks if true.

Display Inside Bands Statistics – Default: false

Display the statistics for inside bands if true.

Display Outside Bands Statistics – Default: false

Display the statistics for outside bands if true.

Display Extreme Bands Statistics – Default: false

Display the statistics for extreme bands if true.

Display Outliers Statistics – Default: false

Display the statistics for outliers if true.

Display Additional Information – Default: false

Display additional information if true.

---

Inside Bands Parameters

---

The inside bands parameters are used to customize aspects of the inside bands. Parameters in this section are:

Display Inside Bands – Default: false

A flag to indicate whether the inside bands are displayed.

Fill Inside Bands Area – Default: false

If true, fill color in area between inside bands.

Inside Bands Color – Default: Aqua

The color in which to draw inside bands and their fill area.

Inside Bands Line Width – Default: 1

Width of line used to draw inside bands lines.

---

Outside Bands Parameters

---

The outside bands parameters are used to customize aspects of the outside bands. Parameters in this section are:

Display Outside Bands – Default: false

A flag to indicate whether the outside bands are displayed.

Fill Outside Bands Area – Default: false

If true, fill color in area between outside bands.

Outside Bands Color – Default: Steel Blue

The color in which to draw outside bands and their fill area.

Outside Bands Line Width – Default: 2

Width of line used to draw inside bands lines.

---

Extreme Bands Parameters

---

The extreme bands parameters are used to customize aspects of the extreme bands. Parameters in this section are:

Display Extreme Bands – Default: false

A flag to indicate whether the extreme bands are displayed.

Fill Extreme Bands Area – Default: false

If true, fill color in area between extreme bands.

Extreme Bands Color – Default: Navy

The color in which to draw extreme bands and their fill area.

Extreme Bands Line Width – Default: 3

Width of line used to draw extreme bands lines.

---

Moving Average Band Parameters

---

The moving average band parameters are used to customize aspects of the moving average band. Parameters in this section are:

Display Moving Average Band – Default: true

A flag to indicate whether the moving average band is displayed.

Moving Average Band Color – Default: Yellow

The color in which to draw inside bands and their fill area.

Moving Average Band Line Width – Default: 3

Width of line used to draw inside bands lines.

---

Crosses Parameters

---

The crosses parameters are used to customize aspects of the points where price crosses the bands. Parameters in this section are:

Display Cross Markers – Default: false

A flag to indicate whether the cross markers are displayed.

Cross Marker Color – Default: Blue

The color in which to draw the cross markers.

Cross Marker Width – Default: 3

Width of marker used to draw crosses.

---

Signals Parameters

---

The signals parameters are used to manage how trade signals are managed by the indicator. Parameters in this section are:

Enable Trade Signals – Default: false

If true, then trade signals are calculated and displayed.

Display Moving Average Trade Signals – Default: false

If true, then display trade signal related to the moving average.

Display Inside Bands Trade Signals – Default: false

If true, then display trade signal related to the inside bands.

Display Outside Bands Trade Signals – Default: false

If true, then display trade signal related to the outside bands.

Display Extreme Bands Trade Signals – Default: false

If true, then display trade signal related to the extreme bands.

BUY Signal Color – Default: Aqua

Color for drawing BUY signals.

SELL Signal Color – Default: Magenta

Color for drawing SELL signals.

Signal Marker Width – Default: 3

Size of signal markers.

---

Message Parameters

---

The message parameters determine how the indicator notifications are conveyed to the user. There are several options and the user can select which ones to use at any time. Multiple options can be enabled simultaneously. Parameters included in this section are:

Show Comments – Default: false

Messages can be displayed in the comment section on the chart. By default, this option is disabled. Users can enable the option by setting parameter to ‘true’.

Show Alerts – Default: false

Messages can be displayed in the alert pop-up window on the terminal. By default, this option is disabled. Users can enable the option by setting parameter to ‘true’.

Send Email – Default: false

Messages can be emailed to users if this option is enabled. By default, the option is disabled but can be enabled by setting the parameter to ‘true’. It is important that the user ensures that the mail options are configured and working in the trading terminal.

Send Push Notifications – Default: false

Messages can be pushed to a user’s mobile phone application. This option is disabled by default but can be enabled by setting the parameter to ‘true’. It is important that push notifications be configured correctly in the user’s trading terminal and mobile application.

Print to Journal – Default: false

Messages can also be written in the terminal’s journal. These messages are disabled by default but can be enabled by setting the parameter to ‘true’.

Print to Output File – Default: false

Messages can be written to an external file on disk in the ‘Files’ folder. By default, this option is disabled by default but can be enabled by setting the parameter to ‘true’.

Output File Name – Default: YFX_Messages.log

If the print to file option is enabled, then message notifications are written to a file with this name in the ‘Files’ folder.

Play Message Sound – Default: false

Sounds can be played when a notification occurs. By default, this option is disabled but can be enabled by setting the parameter to ‘true’.

Sound File Name – Default: expert.wav

If the sound message option is enabled, then this sound file is played when notifications are generated.

---

Quiet Time Parameters

---

The quiet time parameters control when notification messages are conveyed to the user. Parameters in this section specify a time period when all notifications are disable. Settings in this section override the message parameters and alert parameters. No notification will be sent during quiet time. Parameters in this section are:

Enable Quiet Time – Default: false

The quiet time process can itself be enabled or disable. It is disabled by default and that means that all alert message notifications will be sent when they are generated. Quiet time can be enabled by setting this parameter to ‘true’.

Quiet Time Start – Default: 01:00

If quiet time is enabled, then this parameter sets the start time of the period. No alert message notifications will be sent after this time. This parameter is only used if quiet time is enabled. It is ignored if quiet time is disabled.

Quiet Time End – Default: 07:00

If quiet time is disabled, then this parameter sets the end time of the period. No alert message notifications will be sent before this time. The parameter is only used if quiet time is enabled. It is ignored if quiet time is disabled.

---

Debug Parameters

---

Sometimes it may be necessary to debug the indicator. Debugging can be configured with the parameters in this section. Debugging would cause a great number of messages to be generated if enabled. It is highly recommended to leave debug disabled. Parameters in this section are:

Enable Debug Module – Default: false

Debugging can be enabled or disabled. By default, it is disabled and no debugging information is generated. Debugging can be enabled by setting this parameter to ‘true’. It is highly recommended to leave this option disabled as the amount of debug logging can be huge and slow down the trading terminal.

Debug Level – Default: DEBUG_LEVEL_NONE

The amount of debugging information can be configure. By default, no information is generated. This is a drop down list and the user can select any one of the values in the list.

Use Date Names for Debug Files – false

If debugging is enabled, the information is written to an external file. The name of the file can be coded to contain the date of the log file.

---