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Standart Sapma

Linear Regression + Moving Average1. Linear Regression including 2 x Standard Deviation + High / Low. Middle line colour depends on colour change of Symmetrically Weighted Moving Average . Green zones indicate good long positions. Red zones indicate good short positions. (Custom) 2. Symmetrically Weighted Moving Average. Colour change depending on cross of offset -1. (Fixed) 3. Exponentially Weighted Moving Average. Colour change depending on cross with Symmetrically Weighted Moving Average. (Custom)
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Amstelveen tarafından
6
Intrangle - Straddle / StrangleIntrangle is an indicator to assist Nifty / Bank Nifty Option Writers / Sellers to identify the PE / CE legs to Sell for Straddle and Strangle positions for Intraday. Basic Idea : (My Conclusion for making this Indicator) 1) Last 10 Years data says Nifty / Bank Nifty More than 66% of times Index are sideways or rangebound (within 1% day) . 2) Mostly, First one hour high and low working as good support and resistance. Once First one hour complete, this indicator will show Strangle High (CE), Strangle Low (PE) and Straddle (CE/PE). Straddle: If you want to do straddle strategy, sell at the money strike (CE/PE) when price comes near to the straddle line (black line), Strangle: If you want to do Strangle strategy, sell Strangle High (CE) and Strangle Low (PE) when price comes near to the straddle line (black line). Both Strangle High and Low will be out of the money when price near to the straddle line (black line). Adjustment: option adjustment to be done based on the price movement. Adjustment purely up to the user / trader. Note1: If price not comes to near straddle line after first hour, better to stay light… Note2: If first hour not giving wide High / Low, don’t use strangle strike based on this indicator. Straddle can be done any day with require adjustment / hedge. This Indicator is purely for education purpose, user / trader has to be back-tested before their start using it. This indicator will work in Nifty / Bank Nifty only. Best Time frames are 3/5/15 Mins. This is purely made for Intraday Happy Trading 😊
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Saravanan_Ragavan tarafından
16
Magic Spread Bullish above 0 Bearish below 0 Buy signal above 100 Sell signal below 100 The higher the number and the volume the stronger the signal is. In extreme market behavior, counter trend signal are early sign of weakness that can take more or less time before reversing the trend. Signal in the direction of the trend are more efficient. Of course it work better as confluence, and should be used with other TA. Find support and resistance levels, and use this as confirmation. e.g. : A buy signal at support in an uptrend are very powerful. A buy signal at support in large uptrend but a in a strong pullback can lead a significant bounce and forthcoming reversal but can take few LL before totally reversing. A buy signal at resistance in an uptrend should mean imminent break-out but could be follow by a retrace / retest.
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The_French_Bull tarafından
Risk Position Sizing tool using Coefficient of VariationA way to manage portfolio risk using relative standard deviation, also known as coefficient of variation. This tool tells you how much of each stock in shares and in value to buy adjusted for their volatility risk for a given starting account capital. A problem many people have is how to diversify an account and adjusting it for the risk involved in each equity. Many would put in an equal amount of capital value into each share but is it really equal if some equities have more risk than others? A solution is to adjust the portfolio by giving less weight to those that are more volatile or risky. It's done by using a starting percent of the account, preferably a small percent of it, and buying up shares with that same amount for each equity. Each equity will also be divided by the COV to risk adjust the portfolio by giving less weight to the more volatile stocks. This is done until as much of the initial capital in the account as possible is spent. COV is how far away the price is from the mean or average. The further the price is from the mean the more risk or volatility there is. It uses standard deviation in its calculation. The problem with SD and ATR is that they are not relative to the past or to other equities to compare to. An application where COV can be used is risk portfolio management formulas. This does not take into account correlation or other equation parts in some portfolio management formulas but only the risk or volatility, the default volatility length is mostly arbitrary, and the lower risk stocks may end up being the slowest in performance. The text label will show how many shares will be bought and how much value each equity will have. At the end it will show the initial capital that was started off with, the total shares bought, the total value of all the shares, and the amount of capital left over. If the sources are not blank then they will be used, to blank them you will need to reset the settings to default otherwise they might still be read. If you want to add more than the given 10 equity spaces to the portfolio then you will need to add in the code manually and add it to the chart. The denominator is perhaps the important part in these types of risk position sizing tools, you can change to other things such as risk-reward ratio instead of volatility or change the volatility type, etc.
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SparkyFlary tarafından
5
(FireflyTA) Market Flow COG (Overlay)Market Flow COG (Overlay) Market Flow COG in the "Overlay" version offers you a variety of modules to do analysis on the market flow . I'm using my own definition of market flow since I'm actively doing scientific research on that topic and developing concepts and tools around it. This indicator is best used together with Market Flow COG (Oscillator) , which is also public. ---------------------- About Market Flow The market flow is a concept describing the directional force driving price movement that a market experiences based on term-specific (short-, mid- and long-term) momentum as well as dynamic range support and resistance. In a strong uptrend for example, market flow is upwards, so dynamic range S&R (i.e. Bollinger Bands) is flowing upwards, too. This is increasing the probability to see continuation after dips. In a shifting trend, it is possible to observe market flow still continuing upwards, because the the flow is only changing slowly. Momentum takes a while to run out and exert pressure into the other direction. This phenomenon can be observed on all timeframes in high-volume markets, even more so on the higher timeframes. Given the complex nature of market flow , there is still a lack of tools available to properly examine it and to derive appropriate trading decisions. ---------------------- About Market Flow COG This indicator allows you to look at various different aspects to market flow . Additional ones might be added in future updates. In this first release, the following are included. Browse the update notes below for further modules added later. Center of Gravity (COG) Deviation Bands Trend EMAs ---------------------- About "Center of Gravity" The COG is an entity that is pulling price back to it frequently (this is why it is called Center of Gravity) as the law of mean reversion dictates. Mean reversion can be loosely broken up into mean reversion on multiple timeframes, and the COGs are included for ULT (ultra low, 15-60m), L (low, 1h-4h), M (medium, 6h-12H) and H (higher, 1D+) timeframes. As this entity is a new development in TA there is still a lack of scientific evidence that it is reliable. However, if you look at the charts, you will notice that price action will respect this entity and circle around it on the appropriate timeframes most of the time. The COG is similar to a Bollinger Band, it is using volatility as its main component. However, COGs are aggregated entities looking at more timeframes at the same time, so besides the Time X Volatility perspective that is provided by Bollinger Bands, this entity adds a third dimension by looking at multiple timeframes. The COG is the mean of all the BBs that are included in the calculation, which can be a large number. This makes a COG a meta-analytic entity that is more sensitive to market price action. The COG helps you in identifying how far and for how long price has been overextended to one side beyond the means. In theory, the probabilities increase dramatically to see a mean reversion to the COG. Watching price interacting with the COG should make clear that the correlations are significant, however there might be differences based on the markets used. The COGs have primarily been tested with the BTCUSD market and for crypto in general. A way to trade based on COGs is to look for weakness (if price is above the COG) or strength (if price is below the COG) in price action while it is approaching S&R. If signs of accumulation or distribution arise, and the distance to the COG is meaningful (as well as being maintained for a few candles), it can provide additional backing for your long/short scalping and swing trading ideas. I'd recommend to always use the COG in combination with your knowledge on price action. By using all COGs at the same time for ULTF, LTF, MTF and HTF you can get a feeling for where price is in the context overall market flow . ---------------------- Deviation Bands The Deviation Bands are fib-based deviations of the COG that is chosen with the 'mode' setting (i.e. LTF). When this module is enabled, the deviation bands are plotted around the COG of that timeframe mode. The deviations can be adjusted manually as well by changing the values in the indicator UI. The main purpose of these bands is to identify the structure of price movements in relation to the COG distance, i.e. analyzing how long price can maintain levels in an area >X or <Y away from the COG. ---------------------- Trend EMAs The Trend EMA module allows you to plot ULTF, LTF, MTF and HTF trend EMA entities which are colored as follows in the release version (for changes, have a look at the update notes): Teal: Price is in a strong uptrend Green: Price is in an uptrend White: Price is in a sideways phase Orange: Price is in a downtrend Red: Price is in a strong downtrend Watching the Trend EMAs can help in order to identify shifting markets (in which price tends to switch sides with the COGs as well). Trend is also a core component of market flow and should be taken into account when interpreting price action. ---------------------- How to Use You can find in-depth tutorials on how to use this indicator by browsing the links and resources in my signature.
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FireflyTA tarafından
[kai]mATRThis indicator is for calculating the volatility of any interval mTR (green line): TR is extended to calculate multiple bars at once with magnification setting. mATR (red line): ATR is extended to calculate multiple bars at once with magnification setting. dev (blue line): standard deviation If you turn on "divide source" in the settings, it will be the price volatility. dev will be the same as BBW このインジケーターは任意の区間のボラリティを計算するための物です mTR(緑線) : TRを倍率設定で複数のバーをまとめて計算する用に拡張したものです mATR(赤線) : ATRを倍率設定で複数のバーをまとめて計算する用に拡張したものです dev(青線) : 標準偏差 設定で「divide source 価格変動率」をONにすると価格変動率になります devはBBWと同じになります
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xinolia tarafından
Projected Bollinger Bands - Quadratic RegressionBased on the work of Alex Groove : https://www tradingview com/script/YnoXd2AY-forecasting-quadratic-regression/ and also based on https://www tradingview com/script/YnoXd2AY-forecasting-quadratic-regression/ by capissimo Notes: 1. This Bollinger Bands uses the QREG as its middle line (not MA as the original Bollinger Bands) so this should be acknowledged. 2. This indicator forecasts 3 candles (periods) ahead. 3. The label's position is quite messy, so you need to adjust the chart zoom in order to make the indicator doesn't overlap anything. 4. You need to manually set the time frame in the indicator settings because i'm not able to make the indicator recognizes it automatically I'm trying to make the Bollinger Bands Forecasting from Quadratic Regression, and i'm really sure that there are a lot of mistakes here and there, so i 'm hoping corrections coming from you guys... CHEERS!!!
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MainnyaHebat tarafından
Bollinger Oscillator Extreme + ADXSHORT DESCRIPTION This study is an improved, flexible, fully-customizable version of the one proposed by Steve Karnish of Cedar Creek Trading, who aimed to create an oscillator based on Bollinger Bands , with the goal of spotting divergencies that occurs outside the bands yet providing valuable entries on the crossings trough a smoothed signal. IMPROVINGS Made a Zero Line normalization, where 0 is essentially the BBs basis MA, whereas +100 -100 represents those classic 2 Stdev; Added two levels of interest based on golden ratio working with the two above to get such an Overbought/Oversold Area. Those levels slightly move apart from a 1.5 Stev. Made possible to set EMA as basis average instead John’s classic SMA ; While I kept the original “CCT Oscillator” as a reliable divergence-hunter, I get from it the “Smoothed Oscillator” with a triple average smoothing. You can only play with the first smoothing step by “Oscillator Smoothing” while following are fixed. Despite little differences occurs, you can consider the Smoothed Oscillator itself as the Signal on the original CCT Oscillator. Derived the “Signal” that works on the Smoothed Oscillator. You can play with different smoothing length. Add a customizable ADX which helps weighting trend strength, weakness, choppiness . (mirrored on the Zero Line for aesthetics only) Add a “BB Width” representation so as you can stay in touch with BB volatility , squeezes, and so on. It is a non-analitic data (not 100 normalized). Use “BBW Multiplier” to match visual reading. HOW TO USE (NOT TO USE) The indicator works well when strong directional moves occurs and even better in a sideways market (wide trading range). So there are three main evaluable application: During an Up-trend, spotting negative divergencies on CCT Oscillator in the Oversold Area (better above +100) tell us that a correction or a reversal will probably occur. It’s time to consider a stop profit or look for a good re-entry after the pull-back. During a Down-trend, spotting positive divergencies on CCT Oscillator in the Overbought Area (better below -100) tell us that a correction or a reversal will probably occur. It’s time to consider a stop profit or look for a good re-entry after the pull-back. In a Sideway Market, look for both positive and negative divergencies on CCT Oscillator in the Oversold/Overbought Areas, trading in the range, better with the confirmation from such a Stochastic and a Volume based indicator. >>> If you're not a pro you would better left counter-trend and mean-reversal setups to “trading titans”. <<< “OK! And what about signals!?” you tell. :D There are many ways to get signals from crossings and it’s up to you to find what work better to you needs. You can start testing the original Steve Karnish method, using the “CCT Oscillator”/“Smoothed Oscillator” crossings (a 9 period smoothing on a 20 period BB could be a reasonable begining). Whipsaws makes it difficult? Give a try to “Smoothed Oscillator”/“Signal” crossings. Observe how the price act when “Smoothed Oscillator” penetrate Overbought Area from above or Oversold Area from below after a divergence took place. Test a lot BB Length-Signal Smoothing combos. Test with EMA instead using John’s SMA . Never forget the divergencies’ reliability is time-correlated yet timeframe-correlated too (the longer the better!). Never forget that the Zero Line (as the basis of BBs) tends to act as resistance/support. I do the best I can to realize such a flexible tool. Now is up to you to find what better suit your needs. MEDTRONIC Daily MORE SUGGESTIONS This script won’t be an out of the box stategy as no other indicator by itself, tough if you tell it could become a piece of the puzzle. So that his is basically a price-based indicator you would better consider to pair it with a volume-based or an absolute-momentum based one . Most important is you first focus on the market in order to detect strong uptrend/downtrend or sideways, better using a supertrend, moving averages (or whatever works better for you) paired with a momentum indicator . As literatures explains Bollinger Bands (such many others indicators) do their best in ranging markets, yet this version could be as useful when a strong directional move takes place. THIS WORK TAKES HOURS OF RESEARCH, DEVELOPMENT, TESTING… SHARING IS INTENDED FOR EDUCATIONAL PURPOSE ONLY. NOT FOR PROFESSIONAL USE. WILL APPRECIATE ANY FEEDBACK, QUESTION, SUGGESTION! (*) (*) Please don’t ask me for “magic settings” which do not exist at all, nor for “kaleidoscopic effects” cause I’m a big fan of such a minimalistic yet professional layouts. FOLLOWUP TO CHECK UPDATES!
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Federico_TSL tarafından
5
Kolmogorov-Smirnov TestThe Kolmogorov–Smirnov test aims to tell you if the distribution of prices (or log returns) tends to follow a normal distribution or not. You can read about this test on Wikipedia . It seems to be a basic but trusted measure in the quantitative trading world. When KS-t columns are blue, then it's safe to assume normal distribution. When they are red, the normal distribution assumption is proven wrong by the magnitude of the KS-t value. In the plotting tab of the script, you can activate another option that displays the probability of the distribution being actually normal. It's values are bounded between 0 and 1, like all probabilities. This test can be useful when using statistical concepts for trading markets, like standard deviations, z-scores, etc because they all depend on the assumption of prices (or log returns) being normaly distributed. If you see something wrong, don't hesitate to message me. Happy trading to all.
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Hachann tarafından
3
Best Volume Indicator - BTCIn order to make more sense of trading volume in crypto … Based on the Better Volume Indicator (curtesy of Emini-Trading (emini-watch.com) and the TradingView Adaption by LazyBear (). My tweaks/adaptations: - altered the calculation of low volume (c11) in the LB adaptation since it represents the original code better (in my opinion) - takes volume of multiple exchanges into consideration - added standard-deviation bands in order to identify peak amount of trading volume - added three EMA's in order to assess the amount of trading volume even better - changed the color coding of the original Better Volume Indicator (my preference) volume climax up = green (instead of red) volume climax down = red (instead of white) low volume = yellow churn = blue (instead of green) climax + churn = purple "normal" volume = gray (instead of cyan)
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rena4675 tarafından
9
Z-Score of RSIA way to see whether RSI is overbought or oversold inside its Bollinger Bands in the form of an oscillator. Z-score tells you how far the data is from the mean in terms of standard deviations. The numbers shown in the indicator are the number of standard deviations away from the average or mean. Like Bollinger Bands, if it is above the standard deviation border lines then it is considered to be outside the distribution or Bollinger Band. If it is above the upper border line then is it is overbought, if it is below the lower border line then is is oversold. Example of how standard deviation works: 1 standard deviation contains 68% of the data, 2 SD (the default for BB) contains 95% of data, 3 SD for 99%, etc. If the data goes past that, it is considered to be outside the distribution. In statistics, data that is within the distribution is considered to be "significant". The z-score line is colored green if it is above zero and red if it is below zero. Above zero means that the RSI is above the average line or the middle line of the Bollinger Bands, and vice-versa if it is below. A red vertical bar is shown when the the z-score is above the upper border line to show that it is overbought and a green vertical bar is shown when the z-score is below the lower border line to show that it is oversold. This is the equivalent of when the RSI is above and below its Bollinger Bands.
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SparkyFlary tarafından
1
Price Action IndexI've created a simple oscillator which I think does a good job of easily showing you when price is worth watching or not. I think all too often you get stuck looking at something like an RSI and end up trading noise. From my observations and experiences, I've found that there are 2 major catalysts for price movement-- Price is either trending and reaches a top or bottom, or Price is consolidating and ready to make a move in some direction These movements can be seen quite well from a Bollinger Band, which is what mostly gave me the inspiration. When I watch a chart with a BB on it I see that either you're looking to trade price moving out of a squeeze or riding price up/down the band until it crosses over and makes a move to the moving average. My solution was to multiply the direction of price by the strength of its deviation. Price gets converted into a signal between -1.0 (bottom of the range) and 1.0 (top of the range) Standard Deviation gets converted into a stochastic signal between 0 (next to no deviation from mean) and 100 (highest deviation in lookback) These 2 get multiplied by each other The result tells you if price action is trending bullish and if its approaching max strength (perhaps Overbought), example: Price is hitting highs (1.0) and deviation is also at its highest (100) = 100, opposite for bearish Result can also tell you if price is at the top of the range but the deviation is so tiny and we're mostly pinned to the mean (1.0 * 5 = only 5) How to Trade this Indicator-- If the indicator is stuck near the middle and purple: - Don't make directional trades or you'll be eaten alive by the chop - Good idea to sell options, Iron Condors/Butterflies, etc - Wait for a move to breakout --> the purple will fade away and give way to a direction --- As in all trading scenarios, be mindful of fakeouts/short moves to one direction that very quickly get reversed If the indicator is heading higher: - This would indicate there is a bull trend going on, get long - If we are reaching the overbought area, this is an ideal place to take profits or look at spreads like Bearish Call Spreads (sell calls) - I think you can make your own determination of when to sell by either selling when we're in the overbought area (if it reaches there) or staying bullish so long as it is above the zone If the indicator is heading lower: - Bear trend, shorting is possible - Can use this as a contrarian signal to buy lows A couple of charts with the indicator and a purple squeeze box I've drawn (can sometimes get noisy in real-time, but hindsight is 20/20)-- Bitcoin on Daily with default 20 length Gamestop on 30 minute time frame with 100 length Please feel free to use this indicator for your trading or your own indicators. This particular script is very stripped down/bare bones from what I have been working on as an ongoing project. If TradingView ever returns scripts you can sell, I would probably open that up for a small premium.
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chrism665 tarafından
43
Origin VWAP: OVWAPDraw a VWAP support/resistance line anchored to the origin of the data series (like a daily VWAP, but from the beginning of time, never resetting). Ideally the origin would be the first bar after the IPO. Tradingview (or your connected broker) doesn't always have a complete dataset, and in that case the OVWAP will be 'wrong', but converging to the correct value over time. You can try to simulate this with the built-in VWAP indicator but it has several bugs and limitations. Firstly, the longest time period is century, but it is not 100 years, ie. a rolling century but the beginning of the century: 21 years ago. Secondly, even if your dataset is less than 21 years, if you use a lower time frame then the built-in VWAP's origin becomes the left-most loaded bar (about 5,000 bars ago) - it will draw the wrong value. The new Anchored VWAP drawing tool can't be used on lower time frames as it won't draw the line at all unless it sees the point where you anchored it. You may want to cut 'n paste this code to use in some larger strategy. Unfortunately that's probably not possible. This script uses the 'resolution=' option of 'study()' set to '1W', so the whole script runs at the 1 week resolution. You would think it would be possible to instead use the 'security()' function to request data at the '1W' resolution, but it just resamples the current data set and so is limited to the rightmost 5,000 bars. Look in the options to enable standard deviation lines.
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groks tarafından
6
CV_VWAP_GMECoefficient of variance GME ‰ Gray area: Regional price variance of GME in per milles Light gray thick line: NYSE:GME deviation from global mean 1. Select a chart 24-hour ticker like FX_IDC:USDEUR 2. Select a timescale (5 min, 15 min, ...) 3. Monitor the regional price variance Exchanges included: NYSE, XETR, BMV, FWB, SWB, BITTREX, FTX Currency conversion: Forex Adapted from Detecting the great short squeeze on Volkswagen, Godfrey, K. (2016, February 18).
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delegaatio tarafından
5
Coefficient of Variation - EMA and SMA StDevYet another way to try and measure volatility. An alternative to using ATR is Standard Deviation, it can be used to measure volatility or what is also known as risk. SD measures how dispersed or far away the data is from the mean. It's commonly seen in risk management formulas or portfolio diversification formulas. The problem however is that the numbers that ATR and SD give off from one equity might not be relative to others or its own past. For example, SPY can give a large number despite not being as volatile as other equities while others being compared to can have smaller volatility numbers and still be more volatile looking. A solution I thought of is to use percentages that are relatable to different equities. I found out another name for this idea comes from statistics and is known as coefficient of variation, also known as relative standard deviation. This helps see the volatility as a percentage and not just a number that only relates to what is being seen at the moment. I put in a border line on the zero level to see where zero is at but also to edit in case there is such a thing as a percentage number that can be too high or too low for volatility to be looked at if needed. The average and standard deviation formulas can use either simple moving average or exponential moving average.
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SparkyFlary tarafından
Enhanced Sigma by Cryptorhythms [CR]Enhanced Sigma by Cryptorhythms Sigma is basically the deviation of returns compared to past returns. The higher / lower the value, shows you how deviated from the average this current bars returns are. While perhaps not usable as a complete strategy for entering and exiting, its still quite useful and informative. It can give interesting signals as to potential turning points in price action. This behavior extends to all timeframes both long term and short term. There are 2 overbought and oversold zones here inthe indicator. One is adaptive and will change to suit the shorter term giving your extra potential signals. The fixed line shows a general level for highly deviated values. Expect a number of further totally unique and exclusive sigma based indicators from CR in the near future. We are nowhere near done extracting the alpha from this concept! How to get access This indicator is available for standalone purchase or as part of our subscription options. Please see my signature or profile for more information or contact me directly.
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theheirophant tarafından
14
Annualised Price Volatility %Annualised Price Volatility in percent, also called Instrument Risk, as outlined by Rob Carver in his excellent books, 'Systematic Trading' and 'Leveraged Trading'. This is written for those who have read one of his books and want to use this tool on TradingView. Trend strength, oscillators, and volume indicators are all the rage. Finding a great setup is, of course, key. You've decided to go long. Great! But how much is your capital at risk? How does that compare with your level of risk tolerance? When trading, it's key to understand just how risky a certain instrument is. An uptrend is an uptrend, but is it at an annualised volatility of 2% per year or 500% per year? If it's the former, I know I can put a good chunk of capital into trading it. But if its the latter, I don't want to put so much money at risk. Volatility is rarely in a straight line. It's usually up and down. I won't give the whole game away. To find out more about how to use this concept of risk, I'd highly recommend the books 'Leveraged Trading' and 'Systematic Trading' by Rob Carver. Do you have any thoughts, ideas, or questions? Let me know in the comments or send me a message! I'd be glad to help you out.
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cisl22klasjk tarafından
2
Muqwishi Volumetric CandleIntroduction Have you ever heard that each candle represents a battle between bulls (buyer) and bears (seller)? If you know the answer, apparently you understand what the price action means. What if I ask you, how much was bloody in each battle between bulls and bears?!. This indicator may give a clear picture of how to identify the candle’s strength by implementing the Standard Deviation on volume and reshape the candle. The Muqwishi Volumetric Candles indicator works to weigh each candle instantaneously and updates its color level from lightness to darkness based on the rate of the volumetric standard deviation. Here’s how the idea started with the conceptual design, then improved till achieved to the implemented design of a structured candle. The conceptual design mentioned for reviewing how the idea started. However, I want you to understand the “implemented design” in which the indicator has been built to address it. As I stated structurally for the implemented design section, wick and border are identified by the user through “Chart Properties” unlike core and body is measured by the indicator. The candle’s body is ”Dynamic” that colored based on the amount of volume standard deviation in which the low volume standard deviation is a lighter candle’s color and the high volume standard deviation is a darker candle’s color. The core is “Static” color represents zero volume standard deviation which the volume at the average level. In the case where the core is darker than the body means the volume standard deviation is lower than the average volume level, and when the core is lighter than the body mean the volume standard deviation is higher than the average volume level, and when the core’s color has the same body’s color means the volume is in the average level. The image is the best guide to understand the idea. Rarely seeing a volume standard deviation below -2σ, even though the volume is apparently dead. However, it’s possible to see more than 3.9σ, and mostly it has the same effect as 3.9σ. Personally, any candle above 1.5σ is taking my attention, and more than 2σ I look around seeking for reasons to not take a trade. §§ Note, if you have misunderstood the standard deviation concept, there are many great sources to understand it such as Wikipedia, YouTube,... etc. In a basic example, How much is your height relative to the height of average people in your city!!?. Similarly, how much is the amount of volume relative to the average volume of a number series of previous bars?!. Indicator Overview Before I get into this section, this is NOT meant to be an educational or recommendation. Just showing you how I use this indicator based on an experience. The chart above has been remarked as an example of how I apply it. Again, it’s a personal preference, and it doesn’t mean this’s an efficient way. Indicator Setting ➤ Ensure to visualize the indicator to the front for recognition of the candle’s core. For more information check the image: drive.google.com ➤ Indicator’s title. Generates two outputs. The first one is the coordinate location for the char “Core”, don’t pay attention to it. The second one colored in blue is referring to the measurement of the volume standard deviation as your cursor point move at any candle on the chart. For more information check the image: drive.google.com ➤ Indicator’s inputs. ■ Length: Number of previous bars covered in the calculation. Prefer between 14-20. ■ Long Candle Color: Choose a color for bullish candles. ■ Short Candle Color: Choose a color for bearish candles. ■ Color Mode: Kinda color style. ● Lightness: From lightness to darkness colored as low volume SD to high volume SD. ● Saturation: From narrow range to wide range colored as low volume SD to high volume SD. ■ Reverse Mode: Yes → Darkness to Lightness colored as low SD to high SD. ■ Show Core: No → Hide cores. Summarize ■ Users should have a fundamental knowledge of Standard Deviation. ■ The candle’s body is dynamic colored. Got light as low volume standard deviation, and Dark as high volume standard deviation occurred. ■ The Candle’s core is static colored. Represents the average volume which Standard Deviation equals zero. ■ This’s not a trading signal. It works to visualize the level of transactions made per candle. Final Comments ■ My goal was to achieve the conceptual design, but there’re many obstacles that go beyond the coding ability. ■ Let me know if you have any questions, comments, and any improvements to the project. ■ I hope every time you found this indicator useful and scaled up your trading skills, please present support through PayPal that linked in the signature box below. That will help to get me excited and post many ideas. ■ Trade Safe. ✌
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MUQWISHI tarafından
19