OPEN-SOURCE SCRIPT

Price Z-Score

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The goal of this Pine Script is to visually represent how much price deviates from its rolling average via the Z-score statistic in TradingView's indicators section. This script first uses a user-definable "lookback" period (the default is 20 bars) to calculate a moving average and standard deviation. Then it displays the price as an amount of standard deviation greater than or less than the moving average. A moving Z-score is plotted along with three reference lines (+2, 0, -2) to indicate areas of unusual extremes statistically; also, it colors the chart green for when price is in the lower half of the Z-score range (oversold) and red for when price is in the upper half of the Z-score range (overbought). These can be used by traders to recognize price has moved out of normal ranges and is due to revert to its mean.

Penafian

Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.