Moving average deviation rate

Moving average deviation rate

Simple moving average deviation rate and standard deviation.

The bollinger band is momentum value standard devition.
Bat the bollinger band is not normal distribution to close price.

Moving average deviation rate is normal distribution.

This indicator is draw Moving average deviation rate and fill area 2σ standard devition.
If it exceeds 2σ, it is a trading opportunity.



Release Notes:
I've updated to the code you updated on the forum.
thank you @rendfirst(jp.tradingview.com/u/trendfirst/)

1) Added color when the rate crosses over the upper or lower boundaries. I find a bright color helps me spot the crossover better.
2) Changed the standard deviations from a fixed value of 2 to user input.
3) Converted to v5.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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