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Arps Sigma Bands – Historical
This indicator plots a series of support and resistance channel lines around
a polynomial regression centerline. The formula for the centerline takes the
form, a + bx +cx2 + dx3 + ex4 …. The
Sigma channel lines are spaced so that each channel represents one half of a
standard deviation.
It has been observed that when prices cross outside the outer boundaries of
the Sigma Trading Bands they almost invariably return to the centerline
(reversion to the mean).
All four tools have a standard set of inputs, with the recommended minimum
and maximum values displayed in the “Edit Studies” input window.*
Inputs for the Arps Sigma Bands indicators are as follows:
Order (first, second, third, fourth), {The order of the
polynomial regression equation. A “first” order will plot a linear
regression channel. An “second” order will plot a single-curve channel.
“Third” and “Fourth” orders will plot progressively more complex curves.
The maximum order is “Fourth.”}
Length / Time Horizon(30-250), {The number of bars to include in
the regression calculation} (Maximum values depend on the tool, the suggested
max, and min are displayed in the input window)
Regards
Don McKay
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