Momentum Deviation Bands [Loxx]

Momentum Deviation Bands uses a variation of standard deviation. Instead of using price to calculate standard deviation, this uses momentum. This is another type of volatility that will be used in future indicators. This indicator serves more as an educational tool, but can also be used in trading.

You can read about the included moving averages here:

Moving Average Filters Add-on w/ Expanded Source Types [Loxx]

Included

Bar coloring

Release Notes

Sped up HA calculations.

loxx

Public Telegram Group, t.me/algxtrading_public

VIP Membership Info: patreon.com/algxtrading/membership

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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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

loxx

Public Telegram Group, t.me/algxtrading_public

VIP Membership Info: patreon.com/algxtrading/membership

Also on:

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.