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Imported Standard Deviation Channel indicator from ProRealCode.com


TREBOR84

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Watcha guys, 

I have just downloaded and imported the Standard Deviation Channel indicator from prorealcode.com but instead of displaying the channels within the price chart, it is located as a separate (empty) chart altogether below.  Can anyone shed any light on this please? Any help much appreciated. cheers, Rob 

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1 minute ago, elle said:

if you go onto the toolbar & click objects, then channels it will produce a  drop down menu with the standard deviation channel listed  - click on it, then on the price chart & it'll create the channel

here's one I just did randomly 

Capture sdc.PNG

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Ah there it is. I was actually referring to the prorealcode STD channel which has 2 standard deviations (5 lines), I downloaded it from prorealcode.com (people create there own indicator and then share them on there, and this is on there). Anyhow never mind, this 1 STD is also very helpful. I don't even think that 2 STDs are necessary anyway actually as the price rarely if ever breaches it, as I understand it. 

Thanks ever so much for your help, I really appreciate it

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Hi again, I'm back with another question (sorry). I am not even sure how to articulate it but here goes... 

On 01/08/2020 at 17:42, elle said:

here's one I just did randomly 

Capture sdc.PNG

Hi again, I have just realised - I guess you may already know - but the 1 STD line that you revealed to me - the one built in on PRT is actually 2 STDs but the 1st line (above and below the mean line) is not shown 

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Sorry, basically I would just like to know - when you view the price chart with the 2 STD indicator within it - say in the daily chart, or the minute chart - how high/low do you set the 'LinRegPeriod'? Because the position of the STD lines is obviously dependant on what the LinRegPeriod is set at. For example when I hear a tip that a certain stock is currently at 2 STDs on the daily chart, well that all depends on what the LinRegperiod is set at right? I suppose what I am asking is, is there an authoritative number of units that are to be used? i.e. If I view the 10 minute chart set at 1000 units which would display the last 1000 10 minute interval candles, and adjusted the LinRegPeriod to fit that 1000 units, the STD lines would obviously be situated differently than in the, say, 10 minute chart set at 200 units. 

Sorry if this makes absolutely no sense! I am using my time on furlough to learn day, swing trading. FOMO really. Everyone is raving about it so I just have to find out for myself. Green as grass really.

Any help as always much appreciated,

Cheers, Rob

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2 hours ago, TREBOR84 said:

Any help as always much appreciated,

Hi, the Linear Regression indicator (a single line) and Standard Deviation Channel are 2 separate indicators though they can be combined to give a Linear Regression Channel (using SD or ATR channel/bands).

In the pic above you have just the Standard Deviation Channel indicator (2 sd's from the median line as drawn between the 2 dates in the input box).

Try a search for 'Linear Regression Channel'

 

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