M_Morisette
Member
- Great for novice traders
- Simple but effective.
- Reversion to the mean.
Code:
#
## Title: Standard Deviation Channels x3
## Author: Matt Morisette
## Date: 1/19/2022
## Original Study: TDA StandardDevChannel
#
## GLOBAL START ##
input price = close;
input fullRange = Yes;
input length = 21;
def regression;
def stdDeviation;
if (fullRange) {
regression = InertiaAll(price);
stdDeviation = stdevAll(price);
} else {
regression = InertiaAll(price, length);
stdDeviation = stdevAll(price, length);
}
plot MiddleLine = regression;
MiddleLine.SetDefaultColor(CreateColor(255, 236, 74));
MiddleLine.SetStyle(Curve.SHORT_DASH);
## GLOBAL END ##
## DEVIATION 1 ##
input deviation_1 = 1.0;
plot upperLine_1 = regression + deviation_1 * stdDeviation;
plot lowerLine_1 = regression - deviation_1 * stdDeviation;
upperLine_1.SetDefaultColor(CreateColor(255, 1, 154));
lowerLine_1.SetDefaultColor(CreateColor(255, 1, 154));
## DEVIATION 2 ##
input deviation_2 = 2.0;
plot upperLine_2 = regression + deviation_2 * stdDeviation;
plot lowerLine_2 = regression - deviation_2 * stdDeviation;
upperLine_2.SetDefaultColor(CreateColor(255, 249, 202));
lowerLine_2.SetDefaultColor(CreateColor(255, 249, 202));
upperLine_2.SetStyle(Curve.SHORT_DASH);
lowerLine_2.SetStyle(Curve.SHORT_DASH);
## DEVIATION 3 ##
input deviation_3 = 3.0;
plot upperLine_3 = regression + deviation_3 * stdDeviation;
plot lowerLine_3 = regression - deviation_3 * stdDeviation;
upperLine_3.SetDefaultColor(CreateColor(255, 129, 205));
lowerLine_3.SetDefaultColor(CreateColor(255, 129, 205));
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