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 indicated by Pattern Break signals. Moreover, using Fisher transform technique, this advanced version of the study displays Fisher Break signals. 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 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. |
fisher len
|
The number of bars for the Fisher transform. |
dpo length
|
The number of bars for calculating the Detrended Price Oscillator. |
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. |
pattern break arrows
|
Defines whether or not to show "Pattern Break" up and down arrows. |
fisher break arrows
|
Defines whether or not to show "Fisher Break" up and down arrows. |
play pattern sound alerts
|
Defines whether or not to play "Pattern" sound alerts. |
play fisher sound alerts
|
Defines whether or not to play "Fisher" sound alerts. |
Plots
| Plot | Description |
|---|---|
MidlineP
|
The middle line of the MOBO bands. |
UpperBandP
|
The upper MOBO band. |
LowerBandP
|
The lower MOBO band. |
PatternUpArrow
|
The up arrow marking a "Pattern Break" event. |
PatternDownArrow
|
The down arrow marking a "Pattern Break" event. |
FisherUpArrow
|
The up arrow marking a "Fisher Break" event. |
FisherDownArrow
|
The down arrow marking a "Pattern Break" 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.
Past performance is no guarantee of future performance.