{
  "kind": "illustrative",
  "symbol": "Constructed closing-price windows",
  "source": {
    "label": "Constructed calculation: N\u22121 closes of 100 and one close of 110",
    "note": "Each point is a separate window length, not historical prices or a trade result. Population standard deviation includes the current close."
  },
  "x": [
    "N = 2",
    "N = 3",
    "N = 4",
    "N = 5",
    "N = 6",
    "N = 7",
    "N = 8",
    "N = 9",
    "N = 10",
    "N = 11",
    "N = 12",
    "N = 13",
    "N = 14",
    "N = 15",
    "N = 16",
    "N = 17",
    "N = 18",
    "N = 19",
    "N = 20",
    "N = 21",
    "N = 22",
    "N = 23",
    "N = 24",
    "N = 25"
  ],
  "precision": 3,
  "description": "The latest close stays at 110 as the lookback changes. At five closes the two-standard-deviation upper band exactly meets 110; at six it falls below it.",
  "panels": [
    {
      "label": "Same latest close, different window length",
      "series": [
        {
          "id": "close",
          "label": "Latest close",
          "color": "price",
          "values": [
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110,
            110
          ]
        },
        {
          "id": "mean",
          "label": "Middle SMA",
          "color": "blue",
          "values": [
            105.0,
            103.33333333333333,
            102.5,
            102.0,
            101.66666666666667,
            101.42857142857143,
            101.25,
            101.11111111111111,
            101.0,
            100.9090909090909,
            100.83333333333333,
            100.76923076923077,
            100.71428571428571,
            100.66666666666667,
            100.625,
            100.58823529411765,
            100.55555555555556,
            100.52631578947368,
            100.5,
            100.47619047619048,
            100.45454545454545,
            100.43478260869566,
            100.41666666666667,
            100.4
          ]
        },
        {
          "id": "upper",
          "label": "Upper band (2\u03c3)",
          "color": "amber",
          "values": [
            115.0,
            112.76142374915396,
            111.16025403784438,
            110.0,
            109.12022659166597,
            108.42711355080908,
            107.86437827766147,
            107.3965047216582,
            107.0,
            106.65868665485159,
            106.361041317259,
            106.0986178694427,
            105.86507325066283,
            105.65554318236526,
            105.46622918275926,
            105.29411764705883,
            105.13678402846406,
            104.99225335486241,
            104.85889894354068,
            104.73536757619009,
            104.62052335905076,
            104.51340500854212,
            104.41319293609394,
            104.31918358845309
          ]
        }
      ]
    }
  ],
  "annotations": [
    {
      "index": 1,
      "title": "Three closes: still inside",
      "text": "The latest 110 helps set both the average and the band's width. The upper band is about 112.76, above 110."
    },
    {
      "index": 3,
      "title": "Five closes: exactly on the band",
      "text": "With four closes of 100 followed by 110, the average is 102 and standard deviation is 4. The upper band equals 110. A rule requiring a close strictly above it still cannot trigger."
    },
    {
      "index": 4,
      "title": "Six closes: outside becomes possible",
      "text": "The upper band falls to about 109.12. The same latest 110 is now outside. Possible does not mean frequent or profitable."
    }
  ]
}