AMEX:SPXS   Direxion Daily S&P 500 Bear 3X
I utilize the weekly data to calculate the Volume Weighted high, and the Volume Weighted low. Then I use these figures independently to calculate the standard deviations. I'm experimenting with this method and theorizing it has multiple facets of usefulness. Of course identifying support and resistance areas is a benefit, but also seeing the variation in the SD's from week to week, how they increase or decrease in relation to their priors, and how the +2 and -2 expand and contract in response to increasing or decreasing volatility on the up or down side. I'll most likely add the +/-3SD to my charting soon. I've been using this method privately for some time and have only just recently begun posting it as earlier experiences with it have been surprisingly successful, and I'm curious about any additional tweaks the community may offer as advice.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.