LazyBear

CCT Bollinger Band Oscillator

The CCT Bollinger Band Oscillator (CCTBO), developed by Steve Karnish of Cedar Creek Trading, reconfigures John Bollinger's classic Bollinger Bands ( envelopes plotted at two Standard Deviations above and below a moving average) by drawing two parallel lines replacing the envelopes . The parallel lines represent a measurement of two Standard Deviations from the mean and are assigned a value of zero and 100 on the chart.

The indicator represents the price as it travels above and below the mean (50%) and outside the two standard deviations (zero and 100). Penetration of the upper band represents overbought conditions while penetration of the lower band signifies oversold conditions. Usage of the CCT Bollinger Band Oscillator to identify 'failure swings' and 'divergences' can lead to significant reversals.

List of my other indicators:
- Chart: - GDoc: https://docs.google.com/document/d/15AGC...
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//
// @author LazyBear 
// List of all my indicators: 
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
//
study("CCT Bollinger Band Oscillator [LazyBear]", shorttitle="CCTBBO_LB")
length=input(21)
lengthMA=input(13)
src=close
cctbbo=100 * ( src + 2*stdev( src, length) - sma( src, length ) ) / ( 4 * stdev( src, length ) )

ul=hline(100, color=gray)
ll=hline(0, color=gray)
hline(50, color=gray)
fill(ul,ll, color=blue)

plot(cctbbo, color=blue, linewidth=2)
plot(ema(cctbbo, lengthMA), color=red)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Comments

Good afternoon. How can we do that on MT4?
+4 Reply
CCT Bollinger Band Oscillator (CCTBO) peaks are very reliable finding squeezes
+2 Reply
LazyBear QuantitativeExhaustion
Nice. You are the master of squeeze play , still waiting for your tutorial on using CogChannel + Sqzmom + whatever other sauce u use ;)
+5 Reply
Looks like your SQZ indicator (not overlay) is working well. SQZ plays are where the money is when you trade options.
Reply
Is it the same as in the link but adding a MA13? http://www.stocks-simplified.com/CCT_Bollinger_Bands_Oscillator.html
I would like to add it to my MT4 server.
Reply
LazyBear magarto
yup, the same.
Reply
Awesome... thanks, as usually
Reply
LazyBear magarto
yw :)
+1 Reply
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