RANGE
The indicator predicts the lower and upper limits of the next bar. The principle of constructing the indicator: the volatility of candles is analyzed, then it is averaged and reduced to a stationary series to obtain a normal distribution. For a stationary series, the standard deviation for the period is analyzed, and the number of standard periods multiplied by the Student's coefficient is added to the average value of volatility. The next term of the stationary series is predicted as the previous term plus the difference between the previous term of the stationary series and the pre-existing one. After that, the stationary series is transformed to a non-stationary one, and thus the upper and lower limits are obtained.
The upper and lower limits are determined with a confidence probability of 0.95. The places where the lows and highs go beyond their limits are marked with colored circles above and below the candles. In the upper right corner there is a summary table of the indicator metrics, which contains the following metrics: 1. current upper and lower limits 2. How much does the current price differ in % from the upper and lower ranges 3. A metric that considers the standard error between the limits of the indicator and the highs and lows 4. The percentage of accuracy of the indicator 5. The correlation coefficient between the upper and lower limit and, respectively, the maxima and minima
The periods are specified separately for the minimum and maximum. Depending on the tasks, you can iterate through the periods to reduce the error or increase the correlation coefficient
The upper and lower limits are determined with a confidence probability of 0.95. The places where the lows and highs go beyond their limits are marked with colored circles above and below the candles. In the upper right corner there is a summary table of the indicator metrics, which contains the following metrics: 1. current upper and lower limits 2. How much does the current price differ in % from the upper and lower ranges 3. A metric that considers the standard error between the limits of the indicator and the highs and lows 4. The percentage of accuracy of the indicator 5. The correlation coefficient between the upper and lower limit and, respectively, the maxima and minima
The periods are specified separately for the minimum and maximum. Depending on the tasks, you can iterate through the periods to reduce the error or increase the correlation coefficient
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alerts added