Deviation Bands

This indicator plots the 1, 2 and 3 standard deviations from the mean as bands of color (hot and cold). Useful in identifying likely points of mean reversion.
Default mean is WMA 200 but can be SMA, EMA, VWMA, and VAWMA.
Calculating the standard deviation is done by first cleaning the data of outliers (configurable).

Notas de Lançamento:

Adds the option to use the selected source as the mean value. This allows for any indicator to become the mean but forces the deviation calculation to use HLC3.

Notas de Lançamento:

Fixed inverse sign flaw. Added comments.

Notas de Lançamento:

Improved order of plotting to make it more obvious which values are shown on the indicator and makes it easier to specify alert levels.

Notas de Lançamento:

Added color gradient option.

Notas de Lançamento:

Converted bias to a configurable feature instead of always including it. Probably not useful for most cases.

Notas de Lançamento:

Fixed color scheme to use subtle gradients by default but maintained edges where it made more sense.
This also makes color customization much easier.

Notas de Lançamento:

Much improved flexibility to specify minutes or days instead of just bars for any length in the calculation.
Configuration screen is more streamlined.