Projection Bands [ProjectionBands_LB]: ------------------------------------------------------- These project market data along the trend with the maxima and minima of the projections defining the band. The method provides a way to signal potential direction changes relative to the trend. Usage is like any other trading band.
Projection Oscillator [PO_LB]: ------------------------------------------------------- This indicates the relative position of price with in the bands. It fluctuates between the values 0 to 100. You can configure the "basis" to make it oscillate around a specific value (for ex., basis=50 will make it oscillate between +50 and -50). EMA of PO (length configurable, default is 5) is plotted as a signal line. There is also an option to plot the difference (oscillator - signal), just like MACD histogram. When you see a divergence in this oscillator, remember that it just indicates a potential movement with in the band (for ex., a bullish divergence shown may cause the price to cross the median and move up to the top band).
Projection Bandwidth [PB_LB]: ------------------------------------------------------- This shows the % width of the projection bands. A trend reversal is signaled by a high value. Low value may indicate the start of a new trend. This is also a trend strength indicator.
This only shows the bands. How do you get the oscillator and bandwidth to appear?
grahvity
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Thank you, LB.
LazyBear
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yw :)
apdusp
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I was not able to find the 3 indicators in the chart. can you guide me how to find them? even better since tv is already in version 5, aren't you compelled to upgrade it? recently found out about this indicator though Jeff Biermand from theotrade and have been using in thinkorswim for some time for reversal suggestions with satisfactory performance to complement my other indicators.
loralunden
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How does one download this indicator?
kakola
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Does anyone else's Firefox crash when trying to "Make it mine"?
LazyBear
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Yes, it crashed for me too. I tried with FF 29.0.1/Win7x64 HomePremium.
I use Chrome all the time, it works there perfectly.