OPEN-SOURCE SCRIPT
Double Median SD Bands | MisinkoMaster
The Double Median SD Bands is a new trend following tool designed to help traders/investors identify trends, follow them and improve their trend following strategies.
How does it work?
1. Calculate the Standard Deviation over n period of the source (this can be the close, high, low, hl2 and so on)
2. Calculate the basic bands like so:
Upper = Source + SD*Multiplier
Lower = Source - SD*Multiplier
3. Get the special lengths (which we will soon need):
half length = n/2 (if it returns a number like 8.5, it will be rounded up to 9)
square root length = √n (if it returns a number with decimals, it will be rounded to the closest integer)
4. Smooth the bands using the medians
1x Median SD Band Upper = median over half length period on the SD Upper Band
1x Median SD Band Lower = median over half length period on the SD Lower Band
Double Median SD Bands is then finished by applying the median to both but with the square root length.
Trend Logic:
If source crosses over the upper band = uptrend reversal
If source crosses below the lower band = downtrend reversal
Why choose this indicator?
Smooth and fast trend capture => this indicator combines the median with the SD Bands in such way to give you the highest amount of speed possible, while making you suffer as low amount of noise as possible.
Easy trend identification => Thanks to the colors changing with trends, it makes it very easy for users to identify signals within or below 1-2 seconds
Hope you all enjoy Gs, if you have any questions are requests DM me :)
How does it work?
1. Calculate the Standard Deviation over n period of the source (this can be the close, high, low, hl2 and so on)
2. Calculate the basic bands like so:
Upper = Source + SD*Multiplier
Lower = Source - SD*Multiplier
3. Get the special lengths (which we will soon need):
half length = n/2 (if it returns a number like 8.5, it will be rounded up to 9)
square root length = √n (if it returns a number with decimals, it will be rounded to the closest integer)
4. Smooth the bands using the medians
1x Median SD Band Upper = median over half length period on the SD Upper Band
1x Median SD Band Lower = median over half length period on the SD Lower Band
Double Median SD Bands is then finished by applying the median to both but with the square root length.
Trend Logic:
If source crosses over the upper band = uptrend reversal
If source crosses below the lower band = downtrend reversal
Why choose this indicator?
Smooth and fast trend capture => this indicator combines the median with the SD Bands in such way to give you the highest amount of speed possible, while making you suffer as low amount of noise as possible.
Easy trend identification => Thanks to the colors changing with trends, it makes it very easy for users to identify signals within or below 1-2 seconds
Hope you all enjoy Gs, if you have any questions are requests DM me :)
Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.