Stoller Bands comprise a channel surrounding a Simple Moving Average. Their creator is Manning Stoller. The width of the channel differs depending on a period of the average range. Stoller Bands are based on the average true range instead of being based on closes.
To add the tool to your chart, select the tool from the Averages tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: STLB()
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add Technical Alert: When selected, a Technical Alert will be created for the selected security.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Stoller Bands tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Stoller Bands tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Stoller Bands to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
MA Bars: The number of bars that are used for the moving average calculation.
ATR Bars: The number of bars that are used for the average true range calculation.
Calc Using: This option is used to determine which components of the data are used in calculating the Stoller Bands. You can choose from, Open Price, Closed Price, High Price, Low Price, HL (High + Low / 2), HLC (High + Low + Close / 3), OHLC (Open + High + Low + Close / 4), OC (Open + Close / 2).
1st Factor: Sets the value for the ATR factor of the 1st Stoller Band.
2nd Factor: Sets the value for the ATR factor of the 2nd Stoller Band.
2nd Stoller High: Expands to display the line properties of the 2nd Stoller High Band. The following properties can be adjusted:
- Plot Style - Adjusts the plot style of the 2nd Stoller High Band. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - When Line is selected as the Plot Style, the Line Style property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the 2nd Stoller High Band. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to adjust the colour of the 2nd Stoller High Band.
- Fill Colour - When the Plot Style is changed to Shaded you are then able to alter the Fill Colour for the Stoller Bands tool.
- Fill Transparency - When the Plot Style is changed to Shaded, you then are able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.
- Visible - Un-tick this checkbox to hide the 1st Stoller High Band from the chart.
1st Stoller High: Expands to display the properties of the 2nd Stoller High Band. The properties are identical to those listed for the 2nd Stoller High Band.
1st Stoller Low: Expands to display the line properties of the 2nd Stoller Low Band. The properties are identical to those listed for the 2nd Stoller High Band.
2nd Stoller Low: Expands to display the line properties of the 2nd Stoller Low Band. The properties are identical to those listed for the 2nd Stoller High Band.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Stoller Bands value will be displayed in the Price Scale.