Standard Error Bands indicator – Smoothed linear regression line: 21-period linear regression curve smoothed by a three-period simple moving average. Upper channel line – linear regression line plus 2 standard errors. Lower channel line is a linear regression line minus 2 standard errors.
The indicator was described by John Andersen in “Stock and Commodities” magazine in September 1996.
It has four inputs:
- Regression period – linear regression period
- Smoothing period
- Multiplier – standard deviation ratio
- Applied price
Central = SMA(LReg,Smoothing period) Top = Central + Multiplier * Deviation Bottom = Central – Multiplier * Deviation
Deviation = StdDev(LReg,Smoothing period) LReg – linear regression at ‘Applied price’ with the ‘Regression period’ calculation period
MT5 Indicators – Download Instructions
Standard Error Bands MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Standard Error Bands MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Standard Error Bands MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download Standard Error Bands MT5 Indicator.mq5
- Copy Standard Error Bands MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Standard Error Bands MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Standard Error Bands MT5 Indicator.mq4 is available on your Chart
How to remove Standard Error Bands MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Standard Error Bands MT5 Indicator (Free Download)
Click here below to download: