Here I'm proposing an indicator to measure market extremities, it is different than usually used STDv function and has a much simpler underlying mechanism. However, what you will compromise by it is that it is not going to work efficiently like STDv and you will need to use some form of trend and momentum indicators along with it. Not efficiently doesn't mean not...
Here I propose another simple S/R band technique, works on all TF and all securities, this is again one of the simplest forms of logic with a little tweak to tackle modern volatile markets.
It enables us to trade both mean reversion as well as breakout trades as it works in both trending and non-trending markets. You can even use pre-existing ranges as good...
