PROTECTED SOURCE SCRIPT
Updated Std Dev Reversal Levels
Plots standard deviation bands around a central mean to identify statistically extreme price levels where reversals are likely.
How It Works
Price statistically tends to stay within predictable ranges around its mean. This indicator plots sigma (σ) levels showing where price becomes statistically extended.
Green lines: Levels above the mean (+1σ to +5σ)
Red lines: Levels below the mean (-1σ to -5σ)
White line: Center/mean (optional)
How To Use
Set timeframe to 1D or 4H
Use Statistical method with 20-30 lookback
Watch for price touching ±3σ levels
Look for reversal confirmation at these extremes
Target the center line for mean reversion plays
How It Works
Price statistically tends to stay within predictable ranges around its mean. This indicator plots sigma (σ) levels showing where price becomes statistically extended.
Green lines: Levels above the mean (+1σ to +5σ)
Red lines: Levels below the mean (-1σ to -5σ)
White line: Center/mean (optional)
How To Use
Set timeframe to 1D or 4H
Use Statistical method with 20-30 lookback
Watch for price touching ±3σ levels
Look for reversal confirmation at these extremes
Target the center line for mean reversion plays
Release Notes
Plots standard deviation bands around a central mean to identify statistically extreme price levels where reversals are likely.How It Works
Price statistically tends to stay within predictable ranges around its mean. This indicator plots sigma (σ) levels showing where price becomes statistically extended.
Green lines: Levels above the mean (+1σ to +5σ)
Red lines: Levels below the mean (-1σ to -5σ)
White line: Center/mean (optional)
How To Use
Set timeframe to 1D or 4H
Use Statistical method with 20-30 lookback
Watch for price touching ±3σ levels
Look for reversal confirmation at these extremes
Target the center line for mean reversion plays
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.