This indicator allows users to create their own arbitrary time frames for chart analysis. It features a moving average, providing an additional layer of analysis, and offers flexibility through various open settings. In terms of user settings and usage, the indicator provides several options. Users can choose their interval style, opting for either tick-based or...
This script calculates upper and lower bands using Chebyshev's inequality formula. The main pros.: the band doesn't depend on particular distribution. It fits to any type of random variables. Also it allows to calculate bands for instruments with extremely high volatility. Cons.: formula provides a rough estimation in some special cases like lognormal distribution.
function to calculate Chebyshev Inequality. wich can be used to compute the probability that we will diverge from what we expect to obtain. reference: - www.omnicalculator.com - github.com - statisticstopics.wordpress.com - en.wikipedia.org