AmitN STDEV V5

16 thg 10, 2022

Often, a trader would like to predict the range for the next certain amount of period. This is useful for doing short strangles, Iron Fy, Iron Condor strategies.

This script calculates the price range for the next 'X' number of candles on the given timeframe based on Standard Deviation formulae.
It gives this range on 1 standard deviation and 2 standard deviations.

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1SD Range : Probability of expiry in that range is 68 %
2SD Range : Probability of expiry in that range is 95 %
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From the settings, you can choose the "lookback" period which is used to calculate the next price prediction based on those many candles.

The range is plotted in the form of lines. It marks the range and also the difference between spot and the range-value.

16 thg 10, 2022

Phát hành các Ghi chú

Updated the chart image

17 thg 10, 2022

Phát hành các Ghi chú

Added the percentage figure to see the range percentages.