OPEN-SOURCE SCRIPT
HPDR Bands Update
The range levels are not treated as raw percentages of one volatility unit. In standard deviation, ATR, and hybrid modes, the levels map to a calibrated probability-style multiplier curve:
- `38.2` -> inner statistical movement
- `50` -> balance zone
- `61.8` -> active extension
- `78.6` -> strong extension
- `88.3` -> exhaustion warning
- `95` -> extreme
- `97.5` -> very extreme
- `100` -> maximum outer band
For standard deviation mode, this resembles central normal-distribution coverage levels. For ATR mode, the same curve is used as a distance calibration around the median. For percentile mode, the bands are based on actual recent absolute deviations from the median, which is often more robust for non-normal markets.
- `38.2` -> inner statistical movement
- `50` -> balance zone
- `61.8` -> active extension
- `78.6` -> strong extension
- `88.3` -> exhaustion warning
- `95` -> extreme
- `97.5` -> very extreme
- `100` -> maximum outer band
For standard deviation mode, this resembles central normal-distribution coverage levels. For ATR mode, the same curve is used as a distance calibration around the median. For percentile mode, the bands are based on actual recent absolute deviations from the median, which is often more robust for non-normal markets.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.