//Stand Dev Channel - indicator purpose : to automatically adjust every new tradingday (new candle)
DefParam DrawOnLastBarOnly = true

LinRegres = LinearRegression[LinRegPeriod](close)
LinRegresSlope = LinearRegressionSlope[LinRegPeriod](close)
StDev = STD[LinRegPeriod](close)

y1 = LinRegres - ((LinRegPeriod-1)*LinRegresSlope)

//RegressionLine
DRAWSEGMENT(barindex-(LinRegPeriod-1),y1,barindex,LinRegres)coloured(255,0,0)
//Stdev+1
DRAWSEGMENT(barindex-(LinRegPeriod-1),y1+StDev,barindex,LinRegres+StDev)coloured(255,128,0)
//Stdev-1
DRAWSEGMENT(barindex-(LinRegPeriod-1),y1-StDev,barindex,LinRegres-StDev)coloured(255,128,0)
//Stdev+2
DRAWSEGMENT(barindex-(LinRegPeriod-1),y1+(2*StDev),barindex,LinRegres+(2*StDev))coloured(51,102,0)
//Stdev-2
DRAWSEGMENT(barindex-(LinRegPeriod-1),y1-(2*StDev),barindex,LinRegres-(2*StDev))coloured(51,102,0)

Return

Download

Filename: StandDevChannelprobuilder.itf

Downloads: 302

Louis Winthorp III Average

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