Blast Off With BBBased on Larry Williams "Blast Off" indicator. An excellent article describing calculations and usage is here . The indicator uses the same calculations.
It must be noted that "Blast Off" by itself is not a sufficient system for a trade set up.
This indicator adds traditional Bollinger Bands as a support structure for blast off. Generally, a volatility compression followed by a cluster of blast off indicates an aggressive "launch" on the upside or downside.
Explanation
Blast off is indicated below the candle bar with an up arrow
Blast off candles can be marked (coloured) if preferred
Bollinger bands can be enabled for prediction of the direction of the blast ("up" or "down")
The Blast Smooth Length applies a smoothing to the ranges (Open - Close) and (High - Low) over the specified length.
Threshold is the "trigger" that indicates a blast off candidate. It is defined in % terms.
Blastoff
Fisher Multi-Pack [DW]This is an experimental study designed to visualize price activity using John Ehlers Fisher Transform and Inverse Fisher Transform methods.
The Ehlers Fisher Transform is a variation of R. A. Fisher's Z transformation.
In this study, there are five oscillator types to choose from:
-Fisher Transform Indicator - A conversion of price's probability distribution to a Gaussian normal distribution with a smoother output
-Inverse Fisher Relative Strength Index - Converts the RSI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Stochastic Oscillator - Converts the Stochastic's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Commodity Channel Index - Converts the CCI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Blast Off Momentum - Converts the BOM's distribution to a bounded distribution between 1 and -1 with a smoother output
The study uses a modified set of Bollinger Bands applied to the chosen oscillator to determine trend and impulse activity, which are highlighted by the color scheme.
Custom bar colors are included.
Blast Off Momentum [DW]This study is an alternative experimental interpretation of the Blast Off Indicator by Larry Williams.
This formula takes positive and negative magnitudes rather than the absolute value. The result is then smoothed with an EMA, and twice smoothed to provide a signal line.
