Standard Deviation is a volatility indicator which measures the dispersion of a set of data values around the average.
A stock with a smaller Standard Deviation of price values would, of course, be less volatile than a stock with a larger Standard Deviation of price values.
Parameters
Standard Deviation - How many standard deviations the upper (and lower) bands should be plotted above (and below) the moving average.
Type - Which type of moving average to use when calculating the Standard Deviation. Simple, Exponential, or otherwise.
Field - Which price field to use to calculate the Standard Deviation (eg. Close Price)
Period - How many periods (eg. days) to lookback when calculating the moving average (ie. the middle band)