StDev 2.0

Standard Deviation indicator with an option to anchor from Open or EQ (middle of period resolution conducting analysis). The standard deviations are derived from the true range of the most recent resolution and applied to the forth coming period. For instance if you select daily then the analysis will use yesterday true range to derive the standard deviations and anchor them off the open of the new day or off the mid point from the prior days true range. Or if you choose 4 hour time period then it will derive standard deviation levels for the forth coming 4 hour period off the true range of the 4 hour period that just ended.

Additionally you can choose to view as lines that are unconnected period to period or connect them and view as channels. If viewing as channels it is recommended to limit to out edge standard deviation levels.

As a note, you will notice if anchored off EQ that the high and low are the same as the +-0.5 standard deviation thus proving the math is aligned.