The other way to build bands around price that uses Mean Absolute Deviation instead of Standard Deviation.
MAD is also a measure of variability, but less frequently used. MAD is better for use with distributions other than the Gaussian.
MAD is always less than or equal to Standard Deviation and the resulting bands are more tighter for the same parameters if we...
Market: Stocks and ETF's
This overlay shows the deviation of the exponential moving average of the mid candle price of the currently loaded chart, away from the exponential moving average of the S&P and DOW combined and averaged mid candle price. The top and bottom lines also give a visual perspective of what a certain percentage (default 1%) looks like on the...
original script by /u/SandroTurriate/ - I just made some small changes.
Vwap + standard deviation bands. Good for reversal trading among other things. Used intraday.
Very useful when price is ranging.
I added the option to fill the spaces between the deviation lines with color and also the option to add some extra bands. That's about it. Color/length/style etc...
The Mean Deviation Index (MDX) is used to see how much price is deviating from the mean. This indicator takes both volatility and mean deviation in consideration.
It uses the standard deviation of the ATR to filter an EMA, and uses this as the mean. It then only plots > or < 0 if price is more than one x ATR away from the mean. If index is positive, the...
I found myself using multiple bollinger bands a lot so I decided to add them all to one script and add the ability to adjust them by 0.2. It has helped me by not taking up as much space in the upper left corner as well as improving my in's and outs of trend continuation trades. If you manage to find a double top at +2 or greater deviation, and with a bearish...
Moving average deviation rate
Simple moving average deviation rate and standard deviation.
The bollinger band is momentum value standard devition.
Bat the bollinger band is not normal distribution to close price.
Moving average deviation rate is normal distribution.
This indicator is draw Moving average deviation rate and fill area 2σ standard devition.
Alerts added to "VWAP Stdev Bands v2" by SandroTurriate
-Adjusted trigger conditions for higher signal sensitivity
-Color change on bands and signals for better readability and ease on the eyes
-Alerts added for up to 4 deviations up and down
-Re-enabled deviations 4 and 5
-Re-enabled previous close
Corrected Relative Volatility Index. This indicator was originally developed by Donald Dorsey (Stocks & Commodities V.11:6 (253-256): The Relative Volatility Index).
The indicator was revised by Dorsey in 1995 (Stocks & Commodities V.13:09 (388-391): Refining the Relative Volatility Index).
I suggest the refined RVI with optional settings. If you disabled...
This indicator shows price in relation to the standard deviations in a normalised way.
It can be seen as a kind of Bollinger Bands, where the bands stay the same size apart and price amplitude is modified between them,
or as a 'normalised' version of my BBC indicator.
Contrary to the popular use where price is seen as BOUNCING AGAINST the different deviations...
The standard deviation measure the dispersion of a data set, in short this metric will tell you if your data is on average closer or farther away from the mean. Its one of the most important tools in statistics and living without it is pretty much impossible, without it you can forget about Bollinger-bands, CCI, and even the LSMA (ouch this...
B3 Pendulums, quick little indicators that do change print inside the current bar, so beware. It is good for anticipation, but it is important to make sure the current and next bars follow through.
Ever wanted an indicator that really points out the micro term action in the form of a pendulum swing? This my attempt to show the market ups and downs in the...
Hello traders and developers!
I was wondering how built-in "dev" function in Pine is calculated so I made a little research.
I examined 7 samples:
0) "dev" function itself
1) "dev" according to its description: series - sma(series)
2) Mean Absolute Deviation
3) ratio of the absolute difference from 1) divided by period
4) ratio of the difference from 1)...
This adds volatility bands to the Variable Index Dynamic Average (VIDYA). The bands are calculated using the exponential moving average of the standard deviation of the VIDYA.
Thanks to everget for programming the VIDYA for tradingview.