High Low Bands (HLB)

The High Low Bands indicator consist of moving averages calculated from the underling price, shifted up and down by a fixed percentage of the median price.

Configuration Options

• Field: Price or combination of prices to use as the base for average calculations. Possible values include:
  • Open
  • High
  • Low
  • Close
  • Adjusted Close
  • HL/2 \( \left ( \frac{High + Low}{2} \right ) \)
  • HLC/3 \( \left ( \frac{High + Low + Close}{3} \right ) \)
  • HLCC/4 \( \left ( \frac{High + Low + Close + Close}{4} \right ) \)
  • OHLC/4 \( \left ( \frac{Open + High + Low + Close}{4} \right ) \)
• Period: Number of bars to use in the calculations.
• Shift Percentage:
• Channel Fill: Whether to shade the region between the bands.
• Color Selectors: Colors to use for graph elements.
• Display Axis Label: Whether to display the most recent value on the Y axis.