Jump to content
  • 0

Imported Standard Deviation Channel indicator from ProRealCode.com


TREBOR84

Question

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 

Link to comment

12 answers to this question

Recommended Posts

  • 0
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

  • Like 1
Link to comment
  • 0

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

Link to comment
  • 0

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 

Link to comment
  • 0

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

Link to comment
  • 0
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'

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,180
    • Total Posts
      90,704
    • Total Members
      41,294
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Shymammonite
    Joined 29/01/23 19:47
  • Posts

    • Maximize Your Stock Market Returns: Latest News on SP500, Top Tech Stocks with Elliott Wave Analysis and Trading Strategies Stay Ahead of the Stock Market with the Latest News and Analysis on SP500, Top Tech Stocks, US ETF Sectors and Trading Strategies. Get up-to-date insights on the bullish weekly cycle, Elliott wave analysis and profitable trading opportunities in the finance sector with top companies like Apple, Tesla, Amazon, Microsoft, JPMorgan and more. Stock Market Content: SP500, AAPL, AMZN, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM. US ETF Sectors. Elliott Wave Analysis US Stocks News: Apple (AAPL),Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft MSFT, Berkshire Hathaway (BRK/B), Block, Inc (SQ), Meta Platforms, Netflix (NFLX), Enphase (ENPH), Alphabet GOOGL. XFL Finance Sector ETF, JPMorgan JPM & Bank of America BAC, Goldman Sachs Group Inc (GS) Stock Market Summary TradingLounge Bullish Weekly Cycle in play, Bullish Monday Profit Taking Tuesday Elliott Wave Analysis: (iii) of iii) of 3 Trading Strategies: Long Video Chapters 00:00 SP500 04:45 Apple (AAPL) 08:01 Amazon (AMZN) 11:00 NVIDIA (NVDA) 11:34 Meta Platforms (META) 17:47 Netflix (NFLX)  18:59 Enphase (ENPH) 22:04 Tesla (TSLA) 24:06 Alphabet (GOOGL)  29:16 Microsoft (MSFT) 34:52 Berkshire Hathaway (BRK.B) 35:56 Block Inc. (SQ)  37:28 Bank of America BAC 25:22 TRIAL Buy 1 Month Get 3 Months  Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com  
    • Does anybody know the BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) equivalent with a GBP currency hedge? I want the interest yield but I don't want the currency risk.
    • Capital, win loss ratio. If you have a trading edge and you can consistently win 50% of your trades, so your winning 5 trades out of 10. So if your risking 1% of your capital per trade, out of your 10 trades 5 would be losers, so that’s 5% loss and realistically out of the 5 winning trades, some would make small profits, some break even and 1, 2 or 3 could run nicely IF you can let your profits run, basically your making money out of 2 trades out of the 10 trades (80/20 Rule Pareto principle) So a $20,000 acct risking 1% is $200 per trade, this will keep the trader with his trade risk based on being able to win 50% of his trades. A long term trend trader can win with 30% wining trade. Basically you need to know your numbers. Rgds Pete
×
×
  • Create New...