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Indicators

Standard_Error_Bands - indicator for MetaTrader 5

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Views:
360
Rating:
votes: 7
Published:
2018.10.25 18:13

Standard Error Bands indicator - Smoothed linear regression line: 21-period linear regression curve smoothed by a three-period simple moving average. Upper channel line - linear regression line plus 2 standard errors. Lower channel line is a linear regression line minus 2 standard errors.

The indicator was described by John Andersen in "Stock and Commodities" magazine in September 1996.

It has four inputs:

  • Regression period - linear regression period
  • Smoothing period
  • Multiplier - standard deviation ratio
  • Applied price

Calculation:

Central = SMA(LReg,Smoothing period) Top    = Central + Multiplier * Deviation Bottom = Central - Multiplier * Deviation

where:

Deviation = StdDev(LReg,Smoothing period) LReg - linear regression at 'Applied price' with the 'Regression period' calculation period


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22364

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