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Standard deviation indicator thinkorswim1/26/2024 ![]() According to the author, this happens if the indicator value exceeds 2.0, thus signifying that a possible DPL is present.ĭPLs are horizontal lines that run across the chart (feel free to use a Price Level drawing for that) at levels defined by following conditions: This value is plotted as a histogram its bars are highlighted when the volume is unusually large. In mathematical sense, the Relative Volume StDev is calculated as the ratio of the volume to its simple moving average (SMA), expressed in standard deviations. These pools are marked by Defended Price Lines (DPLs), also introduced by the author. Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. The Relative Volume StDev is a support-resistance technical indicator developed by Melvin E. ![]()
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