This Plots the Standard Deviation Price Band based on the Historical Volatility. SD 1, 2, 3.
Version update: Fixed the Standard Deviation mistake on Version 1. Added Smoothing Options for those who prefer a less choppy version. Standard Deviation 3 plot is not set to Default
I had it on my list to code this...It's always nice when someone does it for you...
neneram
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Can you tell me why Log function is used in calculating std dev ?
can we calculate std dev using the closing prices and their mean in look back period ?
will there be difference in these 2 values ?
if yes which one to use ?
zakmic
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@neneram, because price can't be negative (below zero)
FahadWaliany
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Can anyone discuss the settings for this indicator? Length, width and smoothness and what those are?
UDAY_C_Santhakumar
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@FahadWaliany, It totally depends on whats your trading style. Simple idea here would be to offset it to 15-20 bars and play a break out for example.
"Indicators are to be used to fit your trading needs" Dont work it otherways.
I had it on my list to code this...It's always nice when someone does it for you...