CODEWITHSUNDEEP
standard-deviationpine-script
Phil
Phil

Reputation: 11

Standard Deviation only using daily values to show on every time chart in Pine Script

I am trying to make a Standard Deviation overlay using only the daily inputs, and have it overlay that info on any time frame chart. So, even if I look at an hourly chart, I will still see the daily deviations overlayed on the chart. I made one that changes with whatever time frame I am looking at. I started with another public one to make this:

study(title="Standard Deviation",shorttitle="SD",overlay=true)
length = input(20, minval=1)
src = input(open, title="Source")
sd = stdev(src, length)
piv=open

plotOpen = plot(piv,title="Open",color=black,trackprice=true,linewidth=2)
plotR05 = plot(piv+(0.5*sd),title="+0.5", color=red,trackprice=true,linewidth=2)
plotS05 = plot(piv-(0.5*sd),title="-0.5", color=red,trackprice=true,linewidth=2)
plotR10 = plot(piv+sd,title="1", color=blue,trackprice=true,linewidth=2)
plotS10 = plot(piv-sd,title="-1", color=blue,trackprice=true,linewidth=2)
plotR15 = plot(piv+(1.5*sd),title="+1.5", color=green,trackprice=true,linewidth=2)
plotS15 = plot(piv-(1.5*sd),title="-1.5", color=green,trackprice=true,linewidth=2)
plotR20 = plot(piv+(2*sd),title="+2", color=orange,trackprice=true,linewidth=2)
plotS20 = plot(piv-(2*sd),title="-2", color=orange,trackprice=true,linewidth=2)

Upvotes: 1

Views: 1813

Answers (2)

Çağlar YILMAZ
Çağlar YILMAZ

Reputation: 161

for version 5

//@version=5
indicator("Standart Deviation", shorttitle="SD", overlay=true)

length = input.int(30, minval=1)
src = input.source(open,"Source")

//load daily stdev
dailyStd = request.security(syminfo.tickerid,"D",ta.stdev(src,length))
piv=open

plotOpen = plot(piv,title="Open", color=color.white, trackprice = true, linewidth=2)
plotStdResistance = plot(piv+dailyStd,title="RESISTANCE",color=color.red,trackprice=true,linewidth=1)
plotStdSupport = plot(piv-dailyStd,title="SUPPORT", color=color.green, trackprice = true, linewidth=1)

Upvotes: 1

Jos
Jos

Reputation: 1852

I am trying to make a Standard Deviation overlay using only the daily inputs, and have it overlay that info on any time frame chart.

You can use TradingView's security() function for that. That function can load price data from any time frame and/or instrument, including the daily data from the current instrument.

With security() your code can thus calculate the daily standard deviation regardless of which time frame the script currently runs on.

For example:

study(title="Standard Deviation",shorttitle="SD",overlay=true)

length = input(20, minval=1)
src    = input(open, title="Source")

// Load daily stddev
dailyStd = security(tickerid, "D", stddev(src, length))

piv=open

plotOpen = plot(piv,title="Open",color=black,trackprice=true,linewidth=2)
plotR05 = plot(piv+(0.5*dailyStd),title="+0.5", color=red,trackprice=true,linewidth=2)
plotS05 = plot(piv-(0.5*dailyStd),title="-0.5", color=red,trackprice=true,linewidth=2)
plotR10 = plot(piv+dailyStd,title="1", color=blue,trackprice=true,linewidth=2)
plotS10 = plot(piv-dailyStd,title="-1", color=blue,trackprice=true,linewidth=2)
plotR15 = plot(piv+(1.5*dailyStd),title="+1.5", color=green,trackprice=true,linewidth=2)
plotS15 = plot(piv-(1.5*dailyStd),title="-1.5", color=green,trackprice=true,linewidth=2)
plotR20 = plot(piv+(2*dailyStd),title="+2", color=orange,trackprice=true,linewidth=2)
plotS20 = plot(piv-(2*dailyStd),title="-2", color=orange,trackprice=true,linewidth=2)

Give it a try to see if this approach better serves your goal.

Upvotes: 1

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