OPEN-SOURCE SCRIPT
Bollinger Bands Z-Score
Bollinger Bands Z-Score Indicator
This indicator transforms the classic Bollinger Bands into a Z-Score oscillator displayed in a separate pane. It standardizes the Bollinger Bands’ basis line by calculating the Z-Score over a user-defined period, allowing you to see how many standard deviations the price deviates from the mean.
Upper and Lower Fixed Lines: These are set at +2 and -2 Z-Score levels, representing common thresholds for overbought and oversold conditions.
Z-Score Oscillator: The normalized Bollinger Bands oscillate smoothly between these fixed boundaries, providing a clearer perspective on volatility extremes.
Z-Score Table: Displayed on the right side, this table shows the current Z-Score value, along with fixed maximum (+2) and minimum (-2) limits, making it easy to track current momentum and volatility in real-time.
Use Cases:
Identify overextended price moves with standardized volatility measures.
Spot potential reversals or continuation setups by observing the Z-Score crossing key levels.
Complement traditional Bollinger Bands analysis with a statistically normalized perspective.
Input Parameters:
Length: The period used for Bollinger Bands and Z-Score calculation.
MA Type: Choose the moving average type for the basis line (SMA, EMA, SMMA, WMA, VWMA).
StdDev: Multiplier for the standard deviation bands.
Z-Score Length: The lookback period used to compute the mean and standard deviation for Z-Score normalization.
This indicator is perfect for traders seeking a statistically sound and visually clear representation of Bollinger Bands volatility and extremes.
This indicator transforms the classic Bollinger Bands into a Z-Score oscillator displayed in a separate pane. It standardizes the Bollinger Bands’ basis line by calculating the Z-Score over a user-defined period, allowing you to see how many standard deviations the price deviates from the mean.
Upper and Lower Fixed Lines: These are set at +2 and -2 Z-Score levels, representing common thresholds for overbought and oversold conditions.
Z-Score Oscillator: The normalized Bollinger Bands oscillate smoothly between these fixed boundaries, providing a clearer perspective on volatility extremes.
Z-Score Table: Displayed on the right side, this table shows the current Z-Score value, along with fixed maximum (+2) and minimum (-2) limits, making it easy to track current momentum and volatility in real-time.
Use Cases:
Identify overextended price moves with standardized volatility measures.
Spot potential reversals or continuation setups by observing the Z-Score crossing key levels.
Complement traditional Bollinger Bands analysis with a statistically normalized perspective.
Input Parameters:
Length: The period used for Bollinger Bands and Z-Score calculation.
MA Type: Choose the moving average type for the basis line (SMA, EMA, SMMA, WMA, VWMA).
StdDev: Multiplier for the standard deviation bands.
Z-Score Length: The lookback period used to compute the mean and standard deviation for Z-Score normalization.
This indicator is perfect for traders seeking a statistically sound and visually clear representation of Bollinger Bands volatility and extremes.
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.