NOTE: This Chart looks the Exact same for the Oil , for those of you who don't trade . Works great for Stock and Options Traders.
Instead of typing out all of the specifics here is the link to a 5 minute video Ross shared on YouTube.com, which explains in detail his methodology and how he sets up these indicators.
Here is the YouTube Link for his video. Sorry Guys...For some reason video is no longer available.
If you like what Ross has to say please reply to this post and I'm sure we can convince Ross to open a TradingView.com account where he can share the Chart Setups he sees. He has very valuable insights. It's not my place to say what his percentage returns are for the year, but I assure you his returns are impressive.
Also, I tried the 'share', 'make it mine' route and could not add this indicator so I may be quite out of line with my thinking. Any explanation about the indicator and how to add it would be
very much appreciated.
place two linear regression indicators on chart...50 period, one of them at 1 and -1, the other one at 2 and -2.
Since it's based on a certain Period Lookback...the candles/bars can go outside the channel...b/c using a 2 Std Dev by definition there is a 95% probability this won't happen...so it's rare to see...and as you know the indicator constantly adjusts. So you have to view it for a long time while getting used to it...b/c as you know seeing it in HindSight doesn't reflect what it looked like at that point in time.
But if you put a 200 period lookback on daily chart of aapl with a 1 Std Dev the candles are outside of the lines. So it can happen..it's just using 2 stdDev is very rare and acts more as support/resistance for a extreme move.