Mean sma Standard Deviation Bands

9小时前

Here’s a summary of how the script works:

Input Parameters:

emaLength: The length of the EMA (default is 90).
stdDevMultiplier: A multiplier for the standard deviation (default is 1.0).
EMA Calculation:

The script calculates the EMA based on the close price of the chart and the specified emaLength.
Standard Deviation Calculation:

It calculates the standard deviation of the closing price over the same emaLength.
Upper and Lower Bands:

Upper and lower bands are generated by adding or subtracting multiples of the standard deviation from the EMA.
The script defines 8 upper bands and 3 lower bands, each one a step away from the EMA.
Plotting:

The EMA is plotted in white.
The upper bands are plotted in red, and the lower bands in green, with different intensities for each band.