Projection Bandwidth

Projection Bandwidth indicator for NT8

The Projection Bandwidth indicator is based on the Projection Bands as introduced by Mel Widner, Ph.D in an Technical Analysis of Stocks & Commodities magazine article from July, 1995.

Indicator Description

Projection Bandwidth is based on the Projection Bands and shows the ratio from bands to midpoint. Bands are narrowing on low numbers whereas high numbers indicate that the bands are widening. Therefore, the band width can be used as a measure of volatility. Narrow bands equals narrow range and low volatility, whereas wide bands indicate a wide range and high volatility. The indicator furthermore comes with shaded color plots, indicating when the bandwidth is likely overbought / oversold.

Other Library indicators

Other entries from the Channel Indicators categories include the Fibonacci Bands, Multiple Deviation Bands, Residual Standard Deviation Bands and the Multiple Bollinger Bands. You may also want to review the Volatility Indicators category, specifically the Daily Range Projections, Weekly Range Projections and the Monthly Range Projections. Our Indicator Spotlight discussed the Daily Range Projections and you may also have a look at the Spotlights on the Regression Channel, Donchian Channel, TDI Indicator, the Current Week VWAP and the daily Pivot Point Indicator.

The Projection Bandwidth indicator is available for NinjaTrader 8.