INVITE-ONLY SCRIPT
Updated

Trendstone Volatility Adjusted Bands v1.0

701
The idea of the indicator is to show overbought and oversold situations. Whenever something moves outside of the middle channel to any of the R bands, the prices tend to stage violent counter-moves. Can be used for long term flags using 2h to 4h values or short-term swings with 5m to 45m.
Release Notes
Updated the formula to use zero-lag moving average and to use crystalized values instead of current changing ones for calculation.

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.