Multi-Deviation Channel Indictor
“Super-charge your intraday trading.”
This indicator was developed in cooperation with Ronbo’s Charts. Visit his YouTube channel for trading tips on how to super-charge your trading with this indicator.
edit: The lines are drawn based the prior day’s close. So, for the GTEC example Ron showed in the above video, the lines would have been drawn based on the daily and 4 hour deviations at the close on Thursday. Those lines would have been fixed throughout the day on Friday. On the right edge of the chart (the empty space) you’ll see that the lines are different. That’s because they are drawn at Friday’s close. Those lines will be fixed through Monday’s market session. Watch his other video for a better explanation. He draws the lines by hand in that video. That is the video he sent me when he asked me to automate it for him.
This video explains the concept very well.
This indicator plots multiple standard deviation channels based on the current chart’s time frame. Additionally, it automatically establishes intraday support / resistance target levels based on the daily and 4 hour standard deviation channel calculations.