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Published:

2018.10.25 18:13

Standard_Error_Bands.mq5 (20.87 KB) view

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Standard Error Bands indicator - Smoothed linear regression line: 21-period linear regression curve smoothed by a three-period simple moving average. Upper channel line - linear regression line plus 2 standard errors. Lower channel line is a linear regression line minus 2 standard errors.

The indicator was described by John Andersen in "Stock and Commodities" magazine in September 1996.

It has four inputs:

Regression period - linear regression period
Smoothing period
Multiplier - standard deviation ratio
Applied price

Calculation:

Central = SMA(LReg,Smoothing period)
Top    = Central + Multiplier * Deviation
Bottom = Central - Multiplier * Deviation

where:

Deviation = StdDev(LReg,Smoothing period) LReg - linear regression at 'Applied price' with the 'Regression period' calculation period

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22364

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