apuranik

3 Rivers

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Hello Fellow TV users,

I created the 3 Rivers stochastic indicator as per the indicator developed by my mentor Mr. Abhijit Paul.The application of this indicator is to gauge the depth of price movement away from the 21 day moving avg . The 3 Bollinger Bands used are drawn at 3 distinct standard deviations : 1,2,3. These settings can be edited by the user. The interpretation of the indicator is that as the price moves away from the 21 MA into the 1/2/3 stdev zones, the probability of price returning to the 21 MA increases.
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.

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