**Standard Error Bands - Code by @XeL_arjona**

*Original implementation by:*

Traders issue: Stocks & Commodities V. 14:9 (375-379):

Standard Error Bands by Jon Andersen

Version 1Traders issue: Stocks & Commodities V. 14:9 (375-379):

Standard Error Bands by Jon Andersen

Version 1

For a quick and publicly open explanation of this Statistical indicator, you can refer at Here!

Extract from the former URL:

*Standard Error bands are quite different than Bollinger's. First, they are bands constructed around a linear regression curve. Second, the bands are based on two standard errors above and below this regression line. The error bands measure the standard error of the estimate around the linear regression line. Therefore, as a price series follows the course of the regression line the bands will narrow, showing little error in the estimate. As the market gets noisy and random, the error will be greater resulting in wider bands.*

// Standard Error Bands - Code by @XeL_arjona // Original implementation by: // Traders issue: Stocks & Commodities V. 14:9 (375-379): // Standard Error Bands by Jon Andersen // Ver 1 study(title="Standard Error Bands by @XeL_arjona", shorttitle="StDeBands", overlay=true) len = input(defval=21, minval=1, title="Linear Regression Window:") sm = input(true, title="Use Jon Andersen's Smooth of Median:") src = close // Standard Error Band Function stdeB(array,p,mult,dir) => lr = sm ? sma(linreg(array,p,0),1) : linreg(array,p,0) stde = stdev(lr,p)/sqrt(p) d = dir ? 1 : -1 eband = lr + d * mult * stde lrc = sma(linreg(src, len, 0),1) m = plot(lrc, color = blue, title = "OLS Regression Curve", style = line, linewidth = 2) ub = plot(stdeB(close,len,2,true), color = green, title = 'StdEu', style = line, linewidth = 1) bb = plot(stdeB(close,len,2,false), color = red, title = 'StdEb', style = line, linewidth = 1) fill(m,ub, color=olive, title="StdE_U", transp=81) fill(m,bb, color=orange, title="StdE_B", transp=81)

lr = sm ? sma(linreg(array,p,0),3) : linreg(array,p,0)

Thanks in advance and Sorry for the inconvenience!