DHLPBO

The indicator DHLPBO (Dynamic High/Low Percentage Band Overlay). Unlike DHLBO, which displays two bands calculated based on the Highs/Lows of the range, this indicator constantly narrows the channel width by a certain percentage throughout the whole range.

It has two input parameters:

• Period;
• Expansion.

Calculations:

Up band = Max-(Max-Min) * (MaxIndex) * Expansion/100.0
Dn band = Min+(Max-Min) * (MinIndex) * Expansion/100.0

where:

• Min, Max - the lowest and the highest prices in the Period range;
• MinIndex, MaxIndex - the minimum and maximum value indexes, shifted by a step of 1.