Happy Trade,
here you get the opportunity to backtest any of your indicators like a strategy without converting them into a strategy. You can choose to go long or go short and detailed time filters. Further more you can set the take profit and stop loss, initial capital, quantity per trade and set the exchange fees. You get an overall result table and even a...
This script calculates upper and lower bands using Chebyshev's inequality formula.
The main pros.: the band doesn't depend on particular distribution. It fits to any type of random variables. Also it allows to calculate bands for instruments with extremely high volatility.
Cons.: formula provides a rough estimation in some special cases like lognormal distribution.
Original idea from Lazybear's script.
I changed value
degree to radian in TradingView
And
I added values ( hline : 1 and -1 )
It is important value from John Ehlers's article.
If I have mistake you comment me.
Volume substitute for those who prefer to use the XBT ticker. Renko on a small time scale is a good option, but lacks wicks.
Can be used as a non-overlay indicator by detaching. Differences are more visible on large time scales, or on Renko.
Possible future changes:
Make the columns more volatile
Change column color based on previous column's value
...
![XBT: BFXLS Volume Substitute Overlay for BitMEX[NB]](https://s3.tradingview.com/z/zF8MoO6r_mid.png "BFXLS Volume Substitute Overlay for BitMEX[NB]")
