Standard Error Bands

Standard Error Bands represents a channel, which are formed by the Linear Regression indicator and the values of standard errors of the mean. The standard error of the mean is calculated by the following formula:

Image 28410

The indicator view in the chart.

Image 28411


The indicator has the following parameters:

Image 28412


Settings

Period - setting of the LinearReg indicator period.

Standard deviation - setting of the StdDev indicator period.

Common

Source - setting of the indicator calculation parameters:

  • Open
  • High
  • Low
  • Close
  • Volume

Drawing

Panel - selection of the indicator location in the chart:

  • New panel
  • Chart

Top Band, Bottom Band

Show value - display of the indicator value on the price scale on the left.

Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.

Colour - colour setting of the indicator.

Visual type - visual setting of the indicator display in the chart:

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style - setting of the line display style:

  • Solid
  • Dash
  • Dash - dot
  • Dash - dot - dot

Width - setting of the indicator line width.

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