Here is a nice little script that highlights areas of volume using standard deviation, you can choose the look back periods. This script is based on the excellent script by: @SteynTrade - I have simplified it a bit and made it readable to my taste using alpha to highlight high volume areas. Enjoy.
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. If it...
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...
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...
GEOMETRIC STANDARD DEVIATION BANDS Ver.1 By Ricardo M Arjona @XeL_Arjona DISCLAIMER: The Following indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets. The embedded code and ideas within...
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...
EXPERIMENTAL: based on average cumulative price.
EXPERIMENTAL: swing directional bias convergence.
This is one of the techniques described by William Blau in his book "Momentum, Direction and Divergence" (1995). If you like to learn more, we advise you to read this book. His book focuses on three key aspects of trading: momentum, direction and divergence. Blau, who was an electrical engineer before becoming a trader, thoroughly examines...