Similarly to Bollinger bands, the RMSER gives a support and resistance areas for the trading price. Unlike bollinger bands, which use standard deviation, this support and resistance is calculated with 2 * the root mean squared error away from the moving average. This works very well with indices, like $SPX, and prices only fall outside the range during black swan events like the 2020 crash.
Open-source script
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You can favorite it to use it on a chart.
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