Institutional investors use VWAP to trade in stocks.
We assume that institutional investors do not trade at prices that deviate from VWAP. I thought that the deviation rate with VWAP draws a normal distribution.
I created an indicator that shows the standard deviation, the moving average of the deviation rate, and the current deviation rate.
The blue line is the current rate. The red line is a moving average. Bands have standard deviations 1σ and 2σ.
When the blue line is above the red line, it is a rising trend. The reverse is the downtrend.
It is an outlier if the blue line is outside the band.
Use this indicator in under 15 minutes. Available in stock trading. This is especially effective for stocks that institutional investors are participating in.