This indicator plots the 1, 2 and 3 standard deviations from the mean as bands of color (hot and cold). Useful in identifying likely points of mean reversion.
Default mean is WMA 200 but can be SMA , EMA , VWMA , and VAWMA.
Calculating the standard deviation is done by first cleaning the data of outliers (configurable).
Default mean is WMA 200 but can be SMA , EMA , VWMA , and VAWMA.
Calculating the standard deviation is done by first cleaning the data of outliers (configurable).