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Since I am mathematically challenged, can someone show my how to
create these two indicators:
PANE 1:
Price chart with STRAIGHT trendline going thru the "middle" of the
data for XX number of bars back. This trend line should be
calculated to be equal distance for all high and low closing price
points for XX bars back.
PANE 2:
Plot the STRAIGHT Trendline defined above straight across Pane 2 so
it does not slope up or down.
Now plot the Standard Deviation (SD) of price around this STRAIGHT
trendline. The SD line will plot how many SD's the price deviates
from the Straight Trendline defined in PANE 1.
I know this will be a challenge. It may be difficult to understand
just what I am asking and if so, please feel free to ask me questions.
I greatly appreciate the time and help on this great forum!
Thanks,
Rick :)
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