Exponential Deviation Bands [ChuckBanger]

This is Exponential Deviation Bands. It is a price band indicator based on exponential deviation rather than the more traditional standard deviation, as you find in the well-known Bollinger Bands calculation. As compared to standard deviation bands, exponential deviation bands apply more weight to recent data and generate fewer breakouts. There fore it is a much better tool to identifying trends.

One strategy on the daily can be

• Buy next bar if closing price crosses below the lower bands
  
• Sell if price is equal to the current value of the upper bands
  

Versionsinformation:

Fixed a typing error so the multiple can be a float. And not only an integer

Versionsinformation:

Just updating the screenshot