The STARC Bands indicator is an alternative to the standard Bollinger Bands indicator. The STARC Bands narrow in stable markets and widen as volatility rises. Unlike the Bollinger Bands, the STARC Bands do not use closing prices and standard deviation. This indicator use the average true range (ATR) for calculation, which gives more meaningful information about the volatility level. The optimum ATR period is 10.
The indicator view in the chart.
The indicator has the following parameters:
Period - setting of indicator calculation period.
Average true range - setting of the ATR indicator period.
Top Band - setting of the upper channel border height.
Bottom Band - setting of the lower channel border height.
Source - setting of the indicator calculation parameters:
Panel - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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