Price as Percentage of Error Band Range

Price as Percentage of Error Band Range

This indicator calculates standard error bands on price and then presents price as a percentage of the error band range. This makes it much easier to visualise where price is in the range by removing the contracting and expanding of the error bands.

Below zero and price is below the lower error band and above 100 and price is above the upper error band.

Using this indicator hopefully market turning points can be more easily spotted. Upper and lower levels can be set to help with these decisions.

The normal error band settings can be adjusted if you want.

I advise downloading the itf file and importing it rather than cutting and pasting the code to ensure that you get full functionality.

Thank you to who ever wrote the original error band code that I used.

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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. Jan Wind • 72 days ago #

    Thanks for the indicator.
    I will try if this indicator in combination with my favorite (standard) indicator Average DI will lead to a profitable trade strategy.

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