If is greater then the previous 40 intervals, is black.
If is less then the previous 2 intervals, is purple.
If is less then the previous, is red.
If is greater then the previous, is blue.
Other - white.
You can add on the indicator a 2.5 Standart Deviation of a 20 period
Shifted 3 periods forward.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG