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Individual standard deviation tool

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[2024-10-30 17:18:19] #1 [Go To First Post]
User258227 - Posts: 7
Hello, I have the following problem. I need an indicator or drawing tool that shows me the following data for the current day as lines (with price and individual color/with) in the chart (from the beginning to the end of the day): Standard line = price (which I set) or close from the previous day Standard deviation up and down (x in per cent or points, which I determine) from the standard price. 1 2 and 3 (individually adjustable, e.g. 0.5, 1, 1.5) These standard deviations should be drawn separately for each day. (Zero line and different deviations) I hope you understand what I mean. Thank you and best regards, Stefan

[2024-10-30 18:31:16] #2 [Go To First Post]
John - SC Support - Posts: 35639
The hardest part of this is defining the line. If you want to do it from the close of the previous day, then you would use the "Horizontal Line at Time" study and set the time of the line to 1 second before the start of the next day's session. For instance, for the CME Group, many products stop trading at 16:00:00 and then the Evening Session starts at 17:00:00, therefore to get the close of the previous day, you would set the time to be 15:59:59 and the Input Data as "Last". Then use the "Bands/Envelope" study to get bands drawn at specific offsets. If you want Standard Deviations, then you would need to have data over a period of time, therefore you could use the "Standard Error Bands" study. Refer to the following: Horizontal Line at Time Bands/Envelope Standard Error Bands For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing

[2024-10-30 20:25:40] #3 [Go To First Post]
User258227 - Posts: 7
I have found an indicator that does exactly what I want, but my results in cl differ from the author's results in es. With sigma 1 and 1.53 as the volatility in ticks, 67.97 should come out for up (see screenshot excel). However, 67.86 comes out. I have attached my screenshots and those of the author, along with the indicator. Maybe you can explain to me where the difference comes from? That would be very nice and helpful. Thank you in advance next 3 files in seperate upload


Private File Input Original ES.png / V - Attached On 2024-10-30 20:24:17 UTC - Size: 28.69 KB - 9 views Inputs of ME CL.png / V - Attached On 2024-10-30 20:24:21 UTC - Size: 70.68 KB - 10 views

[2024-10-30 20:26:16] #4 [Go To First Post]
User258227 - Posts: 7
next 3 files


Screenshot of ME CL.png / V - Attached On 2024-10-30 20:26:00 UTC - Size: 91.66 KB - 6 views Screenshot original ES.png / V - Attached On 2024-10-30 20:26:03 UTC - Size: 46.04 KB - 10 views Screenshot_1.png / V - Attached On 2024-10-30 20:26:07 UTC - Size: 15.7 KB - 9 views

[2024-10-30 20:30:05] #5 [Go To First Post]
User258227 - Posts: 7
Sorry, the result should be 68.74 for the first standard deviation, not 67.97.

[2024-10-30 20:54:03] #6 [Go To First Post]
User258227 - Posts: 7
This is the link i have the indicator https://www.reddit.com/r/thewallstreet/comments/gzbpeh/sierra_chart_daily_standard_deviation_study/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

[2024-10-30 21:51:55] #7 [Go To First Post]
John - SC Support - Posts: 35639
We can not look into third party studies. You would need to ask the developer of the study why you are not getting what you expect. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing

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