Deviation Magnet - JD

15 באפר׳ 2019

This indicator shows price in relation to the standard deviations in a normalised way.

It can be seen as a kind of Bollinger Bands, where the bands stay the same size apart and price amplitude is modified between them,
or as a 'normalised' version of my BBC indicator.

Contrary to the popular use where price is seen as BOUNCING AGAINST the different deviations (or upper and lower BBands),
I tend to find that price likes to STICK to those deviations once it hits them (with a high or a low wick) and "rides them" for a while.
I call this "THE MAGNET EFFECT" of the standard deviations.

The indicator highlights those "MAGNET MOVES".

For most assets I like to use 50 period deviations better than the standard 20 period because it shows the bigger trends better
but of course this can be modified to your liking!

JD.

#NotTradingAdvice
#DYOR

I build these indicators for myself and provide them open source, to use for free to use and improve upon,
as I believe the best way to learn is toghether.

17 באפר׳ 2019

הערות שחרור

UPDATE: added optional squeeze/expansion indicator
-the BLUE line indicates (BBands) SQUEEZE setting in
-the ORANGE line indicates the EXPANSION of the BBands
-the highlighted YELLOW line indicates the RELEASE

12 ביוני 2019

הערות שחרור

added option to display bounce/resistance arows on the chart

JD.

19 ביוני 2019

הערות שחרור

Added indication of likely comming expansion or "explosion" up or down.

25 ביוני 2019

הערות שחרור

Increased sensitivity for "explosion" arrows, I found they gave too few signals.
JD.

9 בינו׳ 2020

הערות שחרור

small code update/