Multi Time Frame Simple Moving Average and Standard Deviation Bands

v11
Multi Time Frame Simple Moving Average and Standard Deviation Bands

This indicator allows you to display simple moving averages and standard deviation bands (Bollinger Bands) from slower time frames on your faster time frame chart. The indicator allows you to draw up to five different time frame lines and bands on your chart. Apply the indicator multiple times if you need more.

This indicator only works with PRTv11 onwards.

You set the average period and number of standard deviations for the bands with the various ‘p’ and ‘dev’ settings.

  • Mp – Monthly average period
  • MDev – Monthly deviations
  • Wp – Weekly average period
  • WDev – Weekly deviations.
  • Dp – Daily average period
  • DDev – Daily deviations.
  • HRp – Hourly average period
  • HRDev – Hourly deviations.
  • MIp – Minutes average period
  • MIDev – Minutes deviations.

If putting Hourly or Minute lines on your chart then you also need to set HRQty and MIQty to the number of hours or minutes. So for example set HRQTY to 4 to display the simple moving average and standard deviation bands from the 4 hour chart. Set the p value of any line that you don’t want to draw to zero –  this also helps the indicator calculate slightly quicker. For example if on a daily chart set HRp and MIp to zero.

The ‘EveryBar’ setting allows to to either just update the lines at the close of each bar on their slower time frame chart or if ‘EveryBar’ is set then the lines update on every bar on the chart you are viewing them on.

You can turn individual lines on and off and change their colour in the indicator configure window.

You can select whether the lines are calculated on close, high, low, median price etc in the indicator configure window.

As always I advise downloading and importing the ITF file to get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Vonasi • 04/20/2020 #

    There are actually two ways to calculate standard deviations and I seem to have used the version for calculations on populations rather than on data samples. There is only a tiny difference between them but if you want a modified code then you can find it here; https://www.prorealcode.com/topic/standard-deviation-indicators-minor-fix/

  2. denmar • 04/20/2020 #

    Great, can’t wait for V11

    • Vonasi • 04/20/2020 #

      You can open a free end of day account directly with PRT and so play with some of the new features whilst we wait for v11 to become fully available for manual and auto trading.

  3. segie • 04/20/2020 #

    Can something similar be done with Supertrends?

    • Vonasi • 04/20/2020 #

      Not sure I fully understand what you are asking for. Are you asking for MTF Supertrend levels or standard deviation bands of Supertrend with MTF?

  4. Kris75 • 341 days ago #

    very interesting; thanks !

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