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Daily Variation Indicator and Probability Levels (SD)

This indicator calculates and displays the daily variation of an asset (open/close and high/low spread), as well as probability levels based on the standard deviations (SD) of past variations. It provides a clear view of daily trends and the probability levels for the day's volatility.

Features:

• Calculation of Daily Variations:
  - Variation between the open and close.
  - Difference between the highest and lowest prices of the day.
  
• Probability Levels SD:
  - SD+1, SD+2, SD+3 for upward moves.
  - SD-1, SD-2, SD-3 for downward moves.
  
• Display Customization:
  - Option to display or hide the SD level lines.
  - Option to color the background based on the day's variation (up or down).
  - Customization of colors and line types.
  
• Statistical Summary Table:
  - Detailed information on variations and SD levels with options to display it in various positions (top/bottom, left/right).
  

Configuration Options:

• SD Lines:
  - Choose to display the lines for each probability level (SD+1, SD+2, SD+3 and their negative counterparts SD-1, SD-2, SD-3).
  - Option to extend the lines to the right, left, or both.
  
• Colors and Opacities:
  - Lines can be colored to differentiate positive and negative levels.
  - Transparent colored background for enhanced visibility of variations.
  
• Table Position:
  - Select where to display the statistical information table (e.g., top/right, bottom/right, etc.).
  

Advantages:

• Helps visualize volatility and daily trends.
  
• Quickly identifies days when movements are significantly above or below the historical average.
  
• A practical tool for monitoring intraday variations.
  

Usage:

• Particularly useful for short-term traders or anyone wanting to observe detailed daily fluctuations.
  
• Ideal for enhancing volatility analysis and adjusting strategies based on market movements.
  

8 ก.พ.

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English translation of the indicator