Standard_Error_Bands - MetaTrader 5 Script - MT4/MT5 Resource
Standard Error Band Indicator - Smoothed Linear Regression Line: A 21-period linear regression curve smoothed by a three-period simple moving average. Upper channel line - linear regression line plus 2 standard errors. The lowering channel line is the linear regression line minus 2 standard errors.
The indicator was described in a September 1996 article by John Andersen in Stocks & Commodities magazine.
It has four inputs:
Center = SMA(LReg, smoothing period) Top = Center + Multiplier * Deviation Bottom = Center - Multiplier * Deviation
Deviation = StdDev(LReg, smoothing period) LReg - Linear regression with "Apply Price" and "Return Period" calculation periods
Attachment download
📎 standard_error_bands.mq5 (20.87 KB)
Source: MQL5 #22364
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