Background
The Bell Trader EA gets it name from a statistical representation of the odds of many readings varying from a statistical average of, in the case of Forex price action, price movements.
Because you are working with an average it makes sense that 50% of the price movement will be above the average and 50% will below the average.
Looking back over history the Standard Deviation channels can determine 3 deviations from the average based on the fact that 99.6% of Price action will happen within 3 deviations from the average upward and downwards.

This version is a special US compatible version of the Bell Trader EA which is tradeable on US Broker Accounts.
Further details