Levels Based on VIX
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Hello prashant sir and Team definedge
my suggestion is that the way we have pivot levels based on yesterdays close can we have levels based on VIX
1 SD Up & Down levels (68.2 % probability that instrument remain in this range )
2 SD Up & Down levels (95.40 % probability that instrument remain in this range )
3 SD Up & Down levels (99.70 % probability that instrument remain in this range )
That will help to find good support resistance-strangle writing for intraday etc
@Prashant-Shah @Definedge @@Definedge-Experts
Thanks and Regards
Nishesh Jani
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We will look into the feasibility of co relating with Vix. However, this feature in Opstra is also widely used.
You can refer Futures chart in Opstra, besides Payoff Chart in Strategy Builder, you can see 1 and 2 Standard Deviation curves on underlying Futures chart. Kindly find the attached screenshot for your reference:
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ok but on what basis this line plots -whats calculation behind it ?