MetaStock -> Tools -> Indicator Builder -> New
Copy and paste formula below.


=========================
Keltner & Bollinger Bands
=========================
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{ ©Copyright 2004~2005 Jose Silva }
{ For personal use only }
{ http://www.metastocktools.com }

{ User inputs }
pds:=Input("Keltner/Bollinger Bands periods",
 1,252,10);
spread:=Input("Keltner Bands % spread",
 0,1000,100)/100;
dev:=Input("Bollinger Bands deviation",
 .001,10,1);
plot:=Input("[1]Keltner, [2]Bollinger, [3]Keltner+Bollinger",1,3,1);

{ Keltner bands }
KBmid:=Mov(Typ(),pds,S);
KBtop:=KBmid+Mov(H-L,pds,S);
KBtopDiff:=(KBtop-KBmid)*spread;
KBtop:=KBmid+KBtopDiff;
KBbot:=KBmid-Mov(H-L,pds,S);
KBbotDiff:=(KBbot-KBmid)*spread;
KBbot:=KBmid+KBbotDiff;
KBwidth:=KBtop-KBbot;
KBwidthAvg:=Cum(KBwidth)/Cum(KBwidth>-1);

{ Bollinger bands }
BBtop:=BBandTop(C,pds,S,dev);
BBmid:=Mov(C,pds,S);
BBbot:=BBandBot(C,pds,S,dev);

{ Plot on price chart }
If(plot=1,KBtop,BBtop);
If(plot=1,KBmid,If(plot=2,BBmid,KBtop));
If(plot=1,KBbot,BBbot);
If(plot=1,KBbot,If(plot=2,BBbot,KBbot))

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