This indicator shows 1 and 2 standard deviation price move from the VWAP based on VIX. Implied Volatility (IV) is being used extensively in the Option world to project the Expected Move for the underlying instrument. VIX is used as a proxy for SPY's IV for 30 days.
This indicator is meaningful only for SPY but can be used in any other instrument which has a...
If you like the script please come back and leave me a comment or find me on the interwebs. I get notified you "liked" it... but I have no idea if you actually use it. So, let me know =)
The script uses the open price as the mean and calculates the standard deviation from the open price on a per candle basis
- Goal: -
To establish a mean based on the Open Price...
This indicator tries to predict the price range of the current/next candle by using the standard deviation. It gives you insight in the percentage it's likely a price will be ranging between.
Expected moves with regard to historical violaitlity, predicts price movement based on historical violaitility. The price targets are show in standard deviation (1,2,3) bands to the upside and downside. Price movement within the first standard deviation to the upside and downside has a 68% probaility, while less than a 5% chance of price moving within second...
