Deviation Magnet - JDThis 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.
Deviations
[RESEARCH] Mean Absolute DeviationHello traders and developers!
I was wondering how built-in "dev" function in Pine is calculated so I made a little research.
I examined 7 samples:
0) "dev" function itself
1) "dev" according to its description: series - sma(series)
2) Mean Absolute Deviation
3) ratio of the absolute difference from 1) divided by period
4) ratio of the difference from 1) divided by period
5) Median Absolute Deviation
6) tricky for-loop to calculate Mean Absolute Deviation
The results of the null and sixth samples are identical.
So, TV built-in "dev" function represents Mean Absolute Deviation and it's description is incorrect.
Where it is used? For example: Commodity Channel Index. You can check its original formula and if you used simple standard deviation instead of MAD in your CCIs - well guys, you were wrong.
Good luck!
UCS_Value BandsThis Indicator is yet another variation of KC. Inspired from Value Charts webinar. I have seen their videos on youtube. What appears to be a variation of KC.
They use 12 bands Showing the zone, and different MA for different timeframes.
You can get this indicator close to accuracy by changing the inputs (ATR) and (Deviations)
This also can be used with the triple ATR setup - Change the values to EMA to desired value. To obtain the First band to plot @ 1, Change the Band deviation to 0.25.
Also can be used as as the Acceleration Band. With Current Settings, the Third Band will plot the Acceleration band.
List of All my Indicators - www.tradingview.com
Lycka Till
