what is Faytterro Bands? it is a channel indicator like "Bollinger Bands".
what it does? creates a channel using standard deviations and means. thus giving users an idea about the expensive and cheap zones. It uses a special weighted moving average different from standard bollinger bands, it also averages not only price but also deviations.
how it does it? it uses this formulas:
how to use it? its usage is the same as "bollinger band". length represents the number of candles to be taken into account, source represents the source of those candles and stdev represents the coefficient of the standard deviation.
Hey @faytterro, oh I see. I personally, would prefer the lines to be solid. Could you give the option to have dashed (like you have), solid, and transparent?
@faytterro, that's great. Thank you! This indicator works excellent on the 4-hr chart by the way. I combined it with support and resistance, a trendline or chart pattern, and the RSI, and it works great with those 3-4 confluences. What time frame do find works best?
faytterro
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@M-Floyd, I updated it by adding new options. I can't say for sure about the best timeframe or settings because I haven't tested it. this is highly variable depending on the strategy you use. New and profitable strategies can always be developed.
M-Floyd
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@faytterro, I like the new options, but now we don't have the option to change the colors of the lines?
@faytterro, when we use your indicator, after few minutes, last part of faytterro band and faytterro oscillator become vanish and only after refreshing the page again it shows the vanished part of line. Please rectify this problem. But over all your indicator is just wow.