TCL Semi Sigma Quantile Super Bands
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- Sürüm: 1.4
TCL SQ Super Bands is a volatility band indicator for MetaTrader 4. It replaces the symmetric Standard Deviation math used by Bollinger Bands with either Semi-Sigma (asymmetric volatility) or Quantile (percentile) calculations, producing bands that adapt to market skewness.
How It Works
Standard Bollinger Bands assume price moves symmetrically around the mean, but real markets often show skew, with larger or more frequent moves in one direction. This indicator offers two alternative band logics. Semi-Sigma calculates separate upper and lower deviations from the mean, producing asymmetric bands. Quantile uses percentile cut-offs (for example, the 90th and 10th percentiles) so the bands track the actual distribution of recent price movement rather than assumed symmetry.
Components
- Two Band Logic Modes — Semi-Sigma (asymmetric standard deviation) or Quantile (percentile-based).
- Center Line Choice — Simple Moving Average (SMA) or Median for the baseline.
- Signal Arrows — Buy and Sell arrows plotted when price rejects an outer band.
- Dashboard Panel — on-chart panel showing current band positions, mode, and recent signal state.
- Multi-Channel Alerts — Popup, Push, Email, and Sound notifications can be enabled independently.
Inputs
- Center Line Mode — SMA or Median (default SMA)
- Lookback Period — bars used for calculation (default 20)
- Band Logic — Semi-Sigma or Quantile (default Semi-Sigma)
- Multiplier — band width multiplier for Semi-Sigma mode (default 2.0)
- Quantile High — upper percentile for Quantile mode (default 0.90)
- Quantile Low — lower percentile for Quantile mode (default 0.10)
- Price Source — Close or Body Center (default Close)
- Show Dashboard — toggle the on-chart panel (default true)
- Show Signal Arrows — toggle Buy and Sell arrows (default true)
- Dashboard Location — chart corner (default top-left)
- Popup, Push, Email, Sound alerts — independent toggles
Compatibility
The indicator works on MetaTrader 4. It is compatible with all instruments and all timeframes. Signal arrows are calculated on the closed bar and are not repainted.
Installation
- Download the file from MQL5 Market
- Restart MetaTrader if needed
- Drag the indicator onto any chart
For questions about parameters or behavior, please use the Comments tab.
