Deviation Magnet - JD

١٥ أبريل ٢٠١٩

This indicator shows price in relation to the standard deviations in a normalised way.

It can be seen as a kind of Bollinger Bands, where the bands stay the same size apart and price amplitude is modified between them,
or as a 'normalised' version of my BBC indicator.

Contrary to the popular use where price is seen as BOUNCING AGAINST the different deviations (or upper and lower BBands),
I tend to find that price likes to STICK to those deviations once it hits them (with a high or a low wick) and "rides them" for a while.
I call this "THE MAGNET EFFECT" of the standard deviations.

The indicator highlights those "MAGNET MOVES".

For most assets I like to use 50 period deviations better than the standard 20 period because it shows the bigger trends better
but of course this can be modified to your liking!

JD.

#NotTradingAdvice
#DYOR

I build these indicators for myself and provide them open source, to use for free to use and improve upon,
as I believe the best way to learn is toghether.

١٧ أبريل ٢٠١٩

ملاحظات الأخبار

UPDATE: added optional squeeze/expansion indicator
-the BLUE line indicates (BBands) SQUEEZE setting in
-the ORANGE line indicates the EXPANSION of the BBands
-the highlighted YELLOW line indicates the RELEASE

١٢ يونيو ٢٠١٩

ملاحظات الأخبار

added option to display bounce/resistance arows on the chart

JD.

١٩ يونيو ٢٠١٩

ملاحظات الأخبار

Added indication of likely comming expansion or "explosion" up or down.

٢٥ يونيو ٢٠١٩

ملاحظات الأخبار

Increased sensitivity for "explosion" arrows, I found they gave too few signals.
JD.

٩ يناير ٢٠٢٠

ملاحظات الأخبار

small code update/