Standard Error Bands indicator – Smoothed linear regression line: 21-period linear regression curve smoothed by a three-period simple moving average. Upper channel line – linear regression line plus 2 standard errors. Lower channel line is a linear regression line minus 2 standard errors.
The indicator was described by John Andersen in “Stock and Commodities” magazine in September 1996.
It has four inputs:
Regression period – linear regression period
Smoothing period
Multiplier – standard deviation ratio
Applied price
Calculation:
Central = SMA(LReg,Smoothing period)
Top   = Central + Multiplier * Deviation
Bottom = Central - Multiplier * Deviation
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