I wanted to use the indicator LazyBear published and use StDev instead of ATR. This is my first time doing this so I'd appreciate suggestions. I will say this too; as helpful as indicators are in general (some more than others), the most important "indicator" you can use is the one between your ears. Controlling emotion, having a reliable plan followed with discipline. That gives one the decided "edge".
// // @author LazyBear // List of all my indicators: // https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing // study("LBR PaintBars [LazyBear]", overlay=true, shorttitle="LBRBARS_LB") lbperiod = input (16, title="HL Length") atrperiod = input (9, title= "ATR Length") stdev = input(20, title= "St Dev Length") mult = input (2.5, minval=0, title="ATR Multiplier") bcf = input(true, title="Color LBR Bars?") mnlb=input(false, title="Color non LBR Bars?" ) svb=input(false, title="Show Volatility Bands?") mkb=input(true, title="Mark LBR bars above/below KC?") lengthKC = input(20, minval=1, title="KC Length") multKC = input(1.5, title="KC Multiplier") useTR = input(true, title="Use TR for KC") skb=input(false, title="Show KC?") calc_stdev(source, useTR, length, mult) => ma = ema(source, length) range = useTR ? tr : high - low rangema = ema(range, length) upper = ma + rangema * mult lower = ma - rangema * mult [upper, ma, lower] [u,b,l] = calc_stdev(close, useTR, lengthKC, multKC) uk=plot(skb?u:na, color=gray, linewidth=1, title="KC Upper"), lk=plot(skb?l:na, color=gray, linewidth=1, title="KC Lower") fill(uk,lk,gray), plot(skb?b:na, style=circles, color=orange, linewidth=2, title="KC Basis") kct=mkb ? (close >= u or close <= l) : false aatr = mult * sma(stdev(close,atrperiod), atrperiod) b1 = lowest(low, lbperiod) + aatr b2 = highest(high, lbperiod) - aatr uvf = (close > b1 and close > b2) lvf = (close < b1 and close < b2 ) uv = plot(svb?b2:na, style=line, linewidth=3, color=red, title="UpperBand") lv = plot(svb?b1:na, style=line, linewidth=3, color=green, title="LowBand") bc = (bcf ? kct?fuchsia:(uvf ? lime : lvf ? maroon : mnlb?blue:na) : (not (uvf or lvf) and mnlb ? blue : na ) ) barcolor(bc)