Dema Percentile Standard Deviation

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Dema Percentile Standard Deviation

The Dema Percentile Standard Deviation indicator is a robust tool designed to identify and follow trends in financial markets.

How it works?
This code is straightforward and simple:

1. The price is smoothed using a DEMA (Double Exponential Moving Average).
   
2. Percentiles are then calculated on that DEMA.
   
3. When the closing price is below the lower percentile, it signals a potential short.
   
4. When the closing price is above the upper percentile and the Standard Deviation of the lower percentile, it signals a potential long.
   

Settings

• Dema/Percentile/SD/EMA Length's: Defines the period over which calculations are made.
  
• Dema Source: The source of the price data used in calculations.
  
• Percentiles: Selects the type of percentile used in calculations (options include 60/40, 60/45, 55/40, 55/45). In these settings, 60 and 55 determine percentile for long signals, while 45 and 40 determine percentile for short signals.
  

Features
Fully Customizable

• Fully Customizable: Customize colors to display for long/short signals.
  
• Display Options: Choose to show long/short signals as a background color, as a line on price action, or as trend momentum in a separate window.
  
• EMA for Confluence: An EMA can be used for early entries/exits for added signal confirmation, but it may introduce noise—use with caution!
  
• Built-in Alerts.
  

Indicator on Diffrent Assets
INDEX:BTCUSD 1D Chart (6 high 56 27 60/45 14)


CRYPTO:SOLUSD 1D Chart (24 open 31 20 60/40 14)


CRYPTO:RUNEUSD 1D Chart (10 close 56 14 60/40 14)


Remember no indicator would on all assets with default setting so FAFO with setting to get your desired signal.