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Weighted Deviation Bands [Loxx]

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Bands and Channels Bollinger Bands (BB) Standard Deviation weightddeviation weighteddeviationbands
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bandsandchannels bollingerbands standarddeviation weightddeviation weighteddeviationbands
What are Weighted Deviation Bands?
Variation of the Bollinger bands but it uses linear weighted average and weighted deviation via Mladen Rakic.

What is Weighted Deviation?
This weighted deviation is a sort of all linear weighted deviation. It uses linear weighting in all the steps calculated (which makes it different from the built in deviation in a case when linear weighted ma is used in the ma method). It is more responsive than the standard deviation

Included
  • Bar coloring
Release Notes:
Fixed overlay UI
Public Telegram Group, t.me/algxtrading_public

VIP Membership Info: www.patreon.com/algxtrading/membership
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.

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.

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