Duyck

Deviation Magnet - JD

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.
Apr 17
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
Jun 12
הערות שחרור: added option to display bounce/resistance arows on the chart

JD.
Jun 19
הערות שחרור: Added indication of likely comming expansion or "explosion" up or down.
Jun 25
הערות שחרור: Increased sensitivity for "explosion" arrows, I found they gave too few signals.
JD.
Jan 09
הערות שחרור: small code update/
הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.
A little tip is always nice!
BTC: 1G9xXYWSoxJR2ikkB7Px6RwBLC5pjHmwZD
http://paypal.me/jorisduyck
hey Duyck,,,happy new year,,,excellet work,,,,thank you for all your hard work towards tv community,,,,
השב
Duyck abinash7
@abinash7, Thank you!
השב
Concerning the new "arrows", they are linked to the squeeze/expansion indicator.

- sideways arrows = price stagnating
- small opposite angled arrows = heavy resitance and possible bounce is likely
- large arrow in main direction = very high chace of explosion up or down incoming

JD.
השב
Hello,

There seems to be bug color bars is disabled but it seems to be changing color.
השב
Duyck dhosha
@dhosha, thank you, I didn’t have that issue yet, i’ll check it out!
השב
@Duyck, Thanks its more apparent if you have another indicator that is coloring the bars. You will see script will try to overlap the colors even when its not enabled.
השב
I found that when the blue SQUEEZE line is on top, price mostly bounces against the BBands, when the expansion line is on top, or the release (bright yellow line) is happening, price goes through the bands.
השב
Man this is beautiful work, please continue what you do!
+1 השב
Duyck allanster
@allanster, thanks man!
+1 השב
for clarity, this is the same chart with 50 period BBands added.
השב
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