FW_MOBO_Basic

Description

MOBO (Momentum Breakout Bands) study suggests that all markets and stock prices have a period where they chop or have a noise level that is trendless.

Using settings on adjusted standard deviation bands (Bollinger Bands®), the study has momentum breakouts above the bands for positive moves and momentum breakdowns for price breaks below the bands. This works for all time periods and tick charts.

Input Parameters

Parameter Description
price The price used to calculate the bands.
displace The displacement for the bands.
length The number of bars used for the bands calculations.
num dev dn The number of deviations below the SMA to plot the lower band.
num dev up The number of deviations above the SMA to plot the upper band.
colored mobo lines Defines whether or not to use colored (Red/Green) MOBO lines.
colored mobo cloud Defines whether or not to use colored (Red/Green) MOBO clouds.
break arrows Defines whether or not to show up and down break arrows.
show alerts Defines whether or not to play sound alerts.

Plots

Plot Description
MidlineP The middle line of the MOBO bands.
UpperBandP The upper MOBO band.
LowerBandP The lower MOBO band.
BreakOutArrow The up arrow marking a "Breakout" event.
BreakDownArrow The down arrow marking a "Breakdown" event.

Bollinger Bands® is a registered trademark of John Bollinger.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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