OPEN-SOURCE SCRIPT
Telah dikemas kini Anchored Probability Cone by Tenozen

First of all, credit to nasu_is_gaji for the open source code of Log-Normal Price Forecast! He teaches me alot on how to use polylines and inverse normal distribution from his indicator, so check it out!
What is this indicator all about?
This indicator draws a probability cone that visualizes possible future price ranges with varying levels of statistical confidence using Inverse Normal Distribution, anchored to the start of a selected timeframe (4h, W, M, etc.)
Feutures:
How to use:
That's all guys! I hope this indicator helps! If there's any suggestions, I'm open for it! Thanks and goodluck on your trading journey!
What is this indicator all about?
This indicator draws a probability cone that visualizes possible future price ranges with varying levels of statistical confidence using Inverse Normal Distribution, anchored to the start of a selected timeframe (4h, W, M, etc.)
Feutures:
- Anchored Cone: Forecasts begin at the first bar of each chosen higher timeframe, offering a consistent point for analysis.
- Drift & Volatility-Based Forecast: Uses log returns to estimate market volatility (smoothed using VWMA) and incorporates a trend angle that users can set manually.
- Probabilistic Price Bands: Displays price ranges with 5 customizable confidence levels (e.g., 30%, 68%, 87%, 99%, 99,9%).
- Dynamic Updating: Recalculates and redraws the cone at the start of each new anchor period.
How to use:
- Choose the Anchored Timeframe (PineScript only be able to forecast 500 bars in the future, so if it doesn't plot, try adjusting to a lower anchored period).
- You can set the Model Length, 100 sample is the default. The higher the sample size, the higher the bias towards the overall volatility. So better set the sample size in a balanced manner.
- If the market is inside the 30% conifidence zone (gray color), most likely the market is sideways. If it's outside the 30% confidence zone, that means it would tend to trend and reach the other probability levels.
- Always follow the trend, don't ever try to trade mean reversions if you don't know what you're doing, as mean reversion trades are riskier.
That's all guys! I hope this indicator helps! If there's any suggestions, I'm open for it! Thanks and goodluck on your trading journey!
Nota Keluaran
Minor Fix:Probability cone anchored from the x bar open instead of close
Nota Keluaran
New Feature:Anchored Type added
Nota Keluaran
Optimization:Faster calculation on "Manual Anchored Point" mode
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.