hammadshahir

Volatility based Standarde Deviation and Fib. Pivot Points

This indicator plots Standard deviation levels and Fib. Pivot Points . I prefer to use only SD levels but Fib. levels also come handy in providing support and resistance .

How to use this indicator:

You have to manually enter instrument's Closing Price / Settlement Price and VIX closing price to draw each day's levels.

For NQ, I use VXN closign price and for ES or RTY, I use VIX closing price.

This indicator can be used on individual stocks and forex pairs.
Release Notes: Fixed Fib calculaion.
Release Notes: Updated standard deviation lines up to 4 levels since volatility is back acrosss the equity and futures market.
Release Notes: Fixed small bug
Release Notes: Small enhancements

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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