Duyck

Deviation Magnet - JD

This indicator shows price in relation to the standard deviations in a normalised way.

It can be seen as a kind of Bollinger Bands , where the bands stay the same size apart and price amplitude is modified between them,
or as a 'normalised' version of my BBC indicator.

Contrary to the popular use where price is seen as BOUNCING AGAINST the different deviations (or upper and lower BBands),
I tend to find that price likes to STICK to those deviations once it hits them (with a high or a low wick) and "rides them" for a while.
I call this "THE MAGNET EFFECT" of the standard deviations.

The indicator highlights those "MAGNET MOVES".

For most assets I like to use 50 period deviations better than the standard 20 period because it shows the bigger trends better
but of course this can be modified to your liking!

JD .

#NotTradingAdvice
#DYOR

I build these indicators for myself and provide them open source, to use for free to use and improve upon,
as I believe the best way to learn is toghether.
If, however, you value these contributions, feel free to leave a little something in the tip-jar for my next coffee break ;-)
BTC: 1G9xXYWSoxJR2ikkB7Px6RwBLC5pjHmwZD
Phát hành các Ghi chú: UPDATE: added optional squeeze/expansion indicator
-the BLUE line indicates (BBands) SQUEEZE setting in
-the ORANGE line indicates the EXPANSION of the BBands
-the highlighted YELLOW line indicates the RELEASE
Phát hành các Ghi chú: added option to display bounce/resistance arows on the chart

JD.
Phát hành các Ghi chú: Added indication of likely comming expansion or "explosion" up or down.
Phát hành các Ghi chú: Increased sensitivity for "explosion" arrows, I found they gave too few signals.
JD.
Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.
A little tip is always nice!
BTC: 1G9xXYWSoxJR2ikkB7Px6RwBLC5pjHmwZD
http://paypal.me/jorisduyck
Concerning the new "arrows", they are linked to the squeeze/expansion indicator.

- sideways arrows = price stagnating
- small opposite angled arrows = heavy resitance and possible bounce is likely
- large arrow in main direction = very high chace of explosion up or down incoming

JD.
Phản hồi
Hello,

There seems to be bug color bars is disabled but it seems to be changing color.
Phản hồi
Duyck dhosha
@dhosha, thank you, I didn’t have that issue yet, i’ll check it out!
Phản hồi
@Duyck, Thanks its more apparent if you have another indicator that is coloring the bars. You will see script will try to overlap the colors even when its not enabled.
Phản hồi
I found that when the blue SQUEEZE line is on top, price mostly bounces against the BBands, when the expansion line is on top, or the release (bright yellow line) is happening, price goes through the bands.
Phản hồi
Man this is beautiful work, please continue what you do!
+1 Phản hồi
Duyck allanster
@allanster, thanks man!
+1 Phản hồi
for clarity, this is the same chart with 50 period BBands added.
Phản hồi
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