PSS Eichberger Bands (PssEichB)
"Eichberger Bands - the new improved Bollinger Bands without the lag and overshoots"
(developed by Professional Software Solutions)   More Products below




The new "Eichberger Bands (PssEichB)" use advanced proprietary mathematical models to precisely track price changes:

The "Eichberger Bands" indicators work any market (Stocks, Futures, FOREX) and any timeframe (Daily, Intrabar etc) and
offer the following improvements to the widely used "Bollinger Bands" from 1981:

"Eichberger Bands" Oscillator gives more significant signals:

Try EB for free for 14 days on your computer - click here
For more details email to:

Eichberger Bands Sample Charts:

GMCR Stock 2Minute Intraday Sample Chart (EB1)
SPY Stock Daily Sample Chart (EB2)
Crude Oil(CL) Futures 1 Minute Intraday Sample (EB5)
USDJPY FOREX 30Minute Intraday Sample (EB3)
AAPL Stock 5Minute Intraday Sample Chart (EB4)
Comparison EB to Bollinger
All these workspaces are available in: C:\Database\PSS_EB\*.tsw 

GMCR Stock 2Minute Intraday Sample Chart (EB1)
Loads 2,000 bars from June 27, 2014: 
Parameter: Lookback=40, Width=100%:

SPY Stock Daily Sample Chart (EB2)
Loads 3 years from June 30, 2014: 
Parameter: Lookback=40, Width=100%:

Crude Oil (CL) Futures 1M inute Intraday Sample (EB5)
Loads 2 days from Dec 12th,2014: 
Parameter: Lookback=40, Width=100% - TradeStation(EB5.tsw)   
 

USDJPY FOREX 30Minute Intraday Sample (EB3)
Loads one month from June 30, 2014: 
Parameter: Lookback=40, Width=100%:


AAPL Stock 5 Minute Intraday Sample Chart (EB4)
Loads 10 Days from Sep 29, 2014: 
Parameter: Lookback=40, Width=100%:

 

Eichberger Band Indicators & Parameters:

Eichberger Band Indicators:
The following "Eichberger Bands" Indicators are available:
EB_Bands view the Bands with the price - to identify key price levels etc.
EB_Osc view oscillating patterns, rhythms and their frequencies for timing 
EB_Trend Identify the trend early and the trend strength 
EB_Width view current actual trading range (as percent or the actual price value)
Many samples are provided - click here
The "Eichberger Bands" EasyLanguage code is available on request
allowing you to incorporate "Eichberger Bands" into your strategy/indicator etc

"Eichberger Bands" Indicators share the same set of Parameters - see below -
allowing you to adjust the responsiveness/lookback period - to your particular market
.
 

Eichberger Band Parameters:
Lookback(40) number bars to lookback for the EB calculations (Default is 40 Bars)
Width(100) Specifies the Band/Envelope Width in Percent (Default is 100%) - 200% = double the width 
ExtensionType(1) Specifies how we extend from the last confirmed point (Default is 1) 
ColorUp(Green),
ColorDown(Red)
Specifies the trend color to be used
(EB_Trend only)
RefWidth(100) Specifies the reference percent - (Default is 100 = 1%)  (EB_Width only)
ShowPercent(true) Specifies if the Width is shown as percent or price difference (EB_Width only)
   
Lookback:
Specifies the number bars to be used for the Eichberger Band Calculations (Default is 40 Bars):
Lookback=150 Bars(Maximum):

Lookback=80 Bars:

Lookback=40 Bars (Default):

Lookback=20 Bars:

Band Width:
Specifies the width (in percent) of the bands (Default is 100%) - Example below:
Width=50:

Width=100% (Default):

Width=200%:

Width=400%
 
Extension Type:
Specifies how we extend from the last confirmed point - using Sample Workspace (EB4.tsw)
ExtendType(0)  -  No Extension: we just stop drawing at the last confirmed point:

ExtendType(1)  -  AverageOffset(Best Method): Use offset logic of recent price changes

ExtendType(2)  -  Fixed Width: Use fixed Width and price offset

ExtendType(3)  -  Price Changes: Use price differences from last point:

ExtendType(4)  -  FixedAngle: Use a straight line of the recent angle of each track (High, Center. Low): 

ExtendType(5)  -  FixedLine: Use a straight line of the average of each track (High, Center. Low): 

ExtendType(6)  -  Horizontal Line from last confirmed point:

The extension if the three tracks (High, Center, Low) is needed, 
because the confirmed points ends before the last Bar (half the lookback).
Example: With a lookback of 40 bars - the last 20 bars need to be extended.

 

Eichberger Bands and Bollinger Bands:

The "Eichberger Bands" indicators offer the following improvements to the widely used "Bollinger Bands":
  • Midline always follows the current price
  • Envelope/Band does not overshoot
  • Envelope/ Band are more stable
  • Detecting all envelope touches

The following chart clarifies the differences:

For this example - we used GMCR 2 Minutes IntraDay from June 27th, 2014 (EBC.tsw)  

These improvements allows the "Eichberger Bands" Oscillator(EB_Osc) to give more significant signals:

Other approaches to improve on the popular Bollinger Bands exit:
Effectiveness - Wiki PDF  
Fixing Bollinger bands - Futures Magazine 2010 PDF  
Engineering Better Bollinger Bands INVIVOANALYTICS   PDF  
Convert price noise into smooth tradable dance between ups/downs! 

Example of a typical noisy Price Pattern:

Step1: Create mathematical "envelope" - red=Top, green=botton range:

The "Eichberger Bands" model tracks the High an Lows independently and their angle etc.
This avoids the overshooting of the volatile Bollinger Bands (yellow lines),
because the "Eichberger Bands" does not use a simple moving average for the anchoring center Bollinger line,
around with the deviation width is simply added/substracted.

Step2: Normalize the price against the smooth ranges:

 (Example GMCR 2Min Jun 27, 2014)
 

Eichberger Bands Code available:

The EasyLanguage Code for the Eichberger Bands is available, so you can customize and also add EB to your strategies.

EB_Bands view the Bands with the price - to identify key price levels etc.
EB_Osc view oscillating patterns, rhythms and their frequencies for timing 
EB_Trend Identify the trend early and the trend strength 
EB_Width view current actual trading range (as percent or the actual price value)

 

More Products from PSS:

We have more than 25 years experience developing software for Stock and Futures Trading,
and developed business and database software systems for more than 30 years (see products below)

We are offering excellent Personalized Services for TradeStation® to assist you in:
- creating your own trading custom strategies and/or chart indicators and RadarScreen® setups
- creating any advanced user functions and DLL programming
- personalized remote access interactive, training and programming sessions or on-site training 
- phone consulting
Our rate is only $100 per hour for programming and telephone consulting.

Professionel Software Solutions Products:  The following powerful utilities are available:

Trading Simulator (PssTrdSim)  
Allows you to replay/trade and  test your interactive trading skills (any market and timeframe)
Eichberger Bands (PssEichB)
Eichberger Bands - the improved Bollinger Bands without the lag and overshoots
Diamond Backtesting and Walk Forward Manager (BTWFMgr)  
State of the art powerful "Swiss army knife" when it comes to optimizing and analyzing your trading strategies -also with walk forward backtesting 
Universal Trend Detection System (UNITRDES)  
"Never miss a trend again" - detects and displays the trend in any timeframe and market!
Trading Performance Analyzer (TrdPerfAna)
Details analysis and optimization of your live or back tested TradeStation® Strategy Results
Check out the Overview sample here
We are now also featured on Softpedia PDF 

We also developed the following powerful Indicators:

 

© Copyright 2010-2014, Burkhard Eichberger, Professional Software Solutions
All Rights Reserved Worldwide.