Z-Score For Loop | MisinkoMaster

The Z-Score For Loop is a new trend following oscillator designed to capture reversals, optimize speed while giving a low amount of noise. The behaviour this interesting and unique tool provides allows traders/investors to get a unique insight into the market trend.

How does it work?
The Z-Score For Loop works like so:

1. Calculate the Z-Score with the following formula:
(source - mean)/Standard Deviation
Where:
source = user defined input, for example close, low, high, hl2 and so on
mean = average of source, using different methods like EMA, recommended approach is not using anything different then EMA, WMA or SMA, since the other options are too noisy and can mess up signals, but you can try them out :)
Standard Deviation = Standard Deviation of the source

2. How many bars back have lower Z-Score value then the current one from start to end
For example:
From 6-55 bars ago how many bars had a lower/higher Z-score?

The methodology & Usage
Combining the classical Z-Score with the For Loop creates an indicator, which like mentioned before creates a unique, smooth & fast signal allowing investors to get an insight into the market, create new advanced strategies and capture the big moves.

Hope you enjoy Gs :)