Dema Percentile Standard DeviationDema Percentile Standard Deviation
The Dema Percentile Standard Deviation indicator is a robust tool designed to identify and follow trends in financial markets.
How it works?
This code is straightforward and simple:
The price is smoothed using a DEMA (Double Exponential Moving Average).
Percentiles are then calculated on that DEMA.
When the closing price is below the lower percentile, it signals a potential short.
When the closing price is above the upper percentile and the Standard Deviation of the lower percentile, it signals a potential long.
Settings
Dema/Percentile/SD/EMA Length's: Defines the period over which calculations are made.
Dema Source: The source of the price data used in calculations.
Percentiles: Selects the type of percentile used in calculations (options include 60/40, 60/45, 55/40, 55/45). In these settings, 60 and 55 determine percentile for long signals, while 45 and 40 determine percentile for short signals.
Features
Fully Customizable
Fully Customizable: Customize colors to display for long/short signals.
Display Options: Choose to show long/short signals as a background color, as a line on price action, or as trend momentum in a separate window.
EMA for Confluence: An EMA can be used for early entries/exits for added signal confirmation, but it may introduce noise—use with caution!
Built-in Alerts.
Indicator on Diffrent Assets
INDEX:BTCUSD 1D Chart (6 high 56 27 60/45 14)
CRYPTO:SOLUSD 1D Chart (24 open 31 20 60/40 14)
CRYPTO:RUNEUSD 1D Chart (10 close 56 14 60/40 14)
Remember no indicator would on all assets with default setting so FAFO with setting to get your desired signal.
Percentiles
TTP QFL OptimiserThis tool is designed to help finding the best take profit and stop loss levels when trading with QFL bases (Quick Fingers Luc).
You can use it to see the average drawdown among all historic bases broken for an asset and then find the drawdowns that are more frequent using the percentile parameters provided.
For example, by knowing that 98% of the bases got broken with a drawdown of up to 5% can become extremely useful for deciding where to place your take profit or stop loss levels.
It supports QFL 1H, 2H and 4H but make sure to set the chart timeframe to a lower timeframe than QFL to obtain valid results.
Two percentiles are provided to be able to evaluate potential TP and SL at the same time.
Steps:
- Load an asset in the 15min TF
- Select the QFL version: 1H more deals / lower quality vs 4H less deals/ better quality
- Find a percentile that triggers enough deals (example: 70) and then another percentile that doesn't get hit too much (example: 98)
- Confirm the values p1 and p2 provided in the table and the white and grey lines for the results of which drawdown percentages correspond to such selection of percentiles
Once having p1 and p2 use your backtesting and forward testing tools to confirm and adjust accordingly.
