BinaryWave Trend Strength Levels from Standard Deviation

Summary

This indicator adds a three-level trend-strength cue to BinaryWave. It calculates the standard deviation of the BinaryWave indicator and compares it with two user-set thresholds. When the value falls between the thresholds, a small dot appears on the moving average in the color of the current trend direction. When it exceeds the upper threshold, the dot grows larger; no dot represents the weakest level.

The document describes the signal encoding and gives the two threshold parameters, but provides no formula details, chart evidence beyond a figure reference, performance results, or rules for entering and exiting trades. The dots can therefore be read as a visual classification of indicator variability, not as a tested standalone strategy. The source also does not explain how to select or tune the thresholds across instruments or timeframes.

Key ideas

• The indicator uses standard deviation of BinaryWave to represent trend strength.
• A small direction-colored dot marks values between the two thresholds.
• A larger dot marks values above the upper threshold, while no dot indicates the weakest level.
• The document provides no performance evidence or guidance for choosing thresholds.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.