Chickenspicy wrote: Wed Apr 12, 2023 12:01 pm
may mrtools or kvak please make a mtf version please?
so we can see if the current channel is following the first or second higher timeframe please ! thank you this one is probaly the best price action indicator in existence
Auto Standard Deviation Channel with Multi-timeframe MTF
Mtf added.
Some information to recap.
What are Standard Deviation Channels?
Traditionally, the Standard Deviation Channel (SDC) is a manually drawn overlay that shows Standard Deviations above and below the linear regression line. This is related to the Linear Regression Study.
Technical analysts can adjust the input (Close), number of regression bars, number of future bars, and standard deviation factor depending on their preference.
As a guide, the default setting used in the Bollinger Bands is a 2.0 Standard Deviation. This setting is best used for entering trends (not counter-trend trading)!
Adjusting the multipliers to a larger setting ie. 3.0 in the Bollinger Bands and the Standard Deviation channel enables traders to use these indicators for counter-trend trading & entering extremely strong trends.
PS: For a version with three levels, please see:
Three-level Auto Standard Deviation Channels by Kvak.
Re: Bollinger Bands type indicators for MT4
