Real author: Stajer59
If you’re looking to enhance your trading strategy, the Standard Deviation Channels indicator could be a game-changer. This nifty tool uses three standard deviation channels based on the number of bars you specify in the settings, allowing you to visualize market volatility better.
//+--------------------------------------------+ //| INDICATOR INPUT PARAMETERS | //+--------------------------------------------+ input uint N_=240; // Number of candles for analysis input double StdDev1=1.0; // First channel deviation input double StdDev2=1.5; // Second channel deviation input double StdDev3=2.0; // Third channel deviation input int Shift=0; // Horizontal shift of the indicator in bars input int PriceShift=0 // Vertical shift of the indicator in points
Fig1. Indicator Standard_Deviation_Channels_x3
Using this indicator effectively can help you identify potential price reversals and breakout points. By visualizing the market's volatility through these channels, you can fine-tune your entries and exits. So, give it a whirl and see how it fits into your trading arsenal!
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