Anyone heard of Extreme "Money Bands" Indicator?

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russ3571

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I was wondering if anyone has ever used anything like this Extreme "Money Bands" Indicator, or would it be possible to code something similar that produces the same effect/results? I am not sure what the code is based on, but it says it's a top secret code in the product description. Thanks in advance.

http://www.billlions.com/product/extreme-money-bands-alert-for-thinkorswim/
Update: the indicator in question will repaint. Read @horserider comment #4.
 
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BenTen

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1. It's a paid indicator. So unless someone already has access to it, we don't know what it's based on.
2. The description says, "Powered by a complicated math equation and built by a perfectionistic team of developers..."
3. From the screenshots, it looks like they were using it on the older version of ThinkorSwim. Not sure if it's still compatible with today's platform.
4. Maybe this? https://usethinkscript.com/threads/center-of-gravity-cog-indicator-for-thinkorswim.138/
 
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russ3571

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Thanks, that makes sense. I was thinking the Extreme "Money Bands" might not be very useful during a trending move.
 
horserider

horserider

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All you need to know. Make sure you read the fine print disclaimers.

"Note: Because this powerful Indicator dynamically updates itself (“re-paints”) to accurately stay in sync with the most recent Price Activity, it is best to use this Indicator/Alert with your Higher Time-Frame strategies. This way – with the slower moving price activity of Higher Time-Frames – you get the best and most profitable signals from this wonderful Indicator. "

My guess it is bands drawn from ZigZag pivot points.
 
BenTen

BenTen

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@horserider Good catch. That was definitely crucial. Indicator is pretty much useless.
 
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tomsk

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All indicators that repaint uses future bars to confirm pivots/trends certainly fall within that category. Such is the case with ZigZag studies, Fractal Pivot, TTM Scalper and a host of other similar indicators. Consequently that is the reason why all such studies look so picture perfect!
 

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