This script will draw lines for Expected Weekly Levels based upon Previous Friday Close, Implied Volatility (EOD Friday), and the square root of Days to Expire (always 7) / 365.
Script will draw 2 high and low levels: *1st levels are 1 standard deviation from the Previous Friday Close. * 2nd levels are 2 standard deviation from the Previous Friday Close.
There are also a 1/2 Low and 1/2 Low 1st level. These are 1/2 a standard deviation and act more as a point of interest level. 1/2 levels have 34% probability.
Configurations: * All lines styles are individually configurable * All lines can individually be turned on/off * Text for all lines can be changed * Global config allows for the * Lines to show the price on the label * Lines to have text in the label * Hide or show all labels * Lines offset from price is configurable * Label size is configurable