Standard Deviation Calculation and drawing line

[agassi]

Hello Every One,

Is there a way for me to calculate the standard deviation for say X number for bars and have ninjatrader draw a line on the price chart itself? Would this requirment need any development?

I am aware of the standard deviation indicator but I need Ninjatrader to calculate it and draw lines on the chart itself on 1 standard deviation, 2 standard deviation etc..

Please advise.

[NinjaTrader_PatrickH]

Hello agassi,

Thank you for your post.

What kind of lines are you looking for? Horizontal or Vertical for example.

When would these lines be drawn? Would this be when the StdDev hit the value of 1 or 2?

[Harry]

You can add /subtract a multiple of the standard deviation from price or a moving average. When the standard deviation is calculated from a fixed moving period, this is called Bollinger Band. When the standard deviation is calculated from an anchor point such as the session start (evergrowing number of bars until the end of the session), you can use a VWAP with standard deviation bands.

[agassi]

Hello agassi,

Thank you for your post.

What kind of lines are you looking for? Horizontal or Vertical for example.

When would these lines be drawn? Would this be when the StdDev hit the value of 1 or 2?

Hi Patrick,

There should be a line in the middle which is the "Average"
There should be a line above and below based on 1 Standard Deviation above and below.
There should be another different colored line based on 2 Standard Deviation above and below.
There should be another different colored line based on 3 Standard Deviation above and below.

User should be able to custom configure based on the number of bars to look back etc. For example if I want to look back say 1000 bars, I should be able to do so.

This is currently available on Bloomberg Terminal. It would be great if NT can make this as a standard functionality.

In addition, as the user scrolls or looks back on the chart, these lines are auto calculated and adjusts based on the chart. ie. if I am looking back say 10 bars back and I scroll back and see a chart for last week, NT should calculate the SD based on that time frame by looking back 10 bars back.

Hope I was able to explain clearly. Is there a way to do this? Or would this be some sort of custom built?

[agassi]

Hello agassi,

Thank you for your post.

What kind of lines are you looking for? Horizontal or Vertical for example.

When would these lines be drawn? Would this be when the StdDev hit the value of 1 or 2?

Lines are horizontal and straight. i.e. not like Bollinger Bands which are kind of wavy. I wish I had access to Bloomberg terminal at home so that I can copy paste what I am talking about..

[NinjaTrader_PatrickH]

Hello agassi,

Thank you for your response.

If you are not looking for the Bollinger indicator in NinjaTrader you can discuss your requirements with any of our certified NinjaScript consultants.

Click here for a list of certified NinjaScript Consultants: http://www.ninjatrader.com/Ecosystem/NonBroker.php#81

Please let me know if you have any questions.