The standard deviation channel allows you to visually see the trend in the market using a linear regression calculation. This script has two lower and two upper bounds, with different deviations. Each of these boundaries has an alert when it has been breached.
Exactly what i needed ..Thanks. Bigger the timeframe the more relevant SD becomes right, as it has more sample data ? so is it good measure for accumulation on dips unless something fundamentally changes ?
All, new to the lingo with indicators. I’m looking at the Inputs, Length default is 128.
What does that equal 128 hours, or something else?
leojez
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@atlsales, This depends on the time frame you have the chart set at. If it is a 1 minute chart, it will equal 128 minutes. If it is hourly, then 128 hours. If daily, then 128 days. Etc, etc.
One of the best scripts I use. Thank you! You indicated that you picked 128 because of 6 months period. What if I'm using a minute frame? Do I still use 128 or should I change it?