Here is my Christmas gift to you to show my appreciation of your support and engagement over the past year!
This is the Z-Score Buy and Sell Signal indicator!
How it works:
It works by looking at the Z-Score of an equities close price and looking for previous areas over reversals over the defined period of time. It also looks at areas that are overbought or oversold (manifested by Z-Scores greater than or less than 2 Standard Deviations away) and displays them as bar colour changes. Historic reversals are signaled with buy and/or sell signals. Oversold is signaled with a green bar colour change (colour can be customaized). Overbought is signaled with an orange bar colour change.
How to use it:
You can use it with support resistance or other indicators. You can use this on both the larger and small timeframes, depending on the style of trader you are.
You can modify the input length to look back on shorter or longer periods.
As a general rule from my experience using it, if you are using the shorter timeframes (i.e. 1 minute tfs), its best to look back between 50 and 75 candles for most equities. If you are looking at the larger timeframes (i.e. Daily, 1 to 2 hour, etc.) its best to set the input value to between 500 to 800. But, as always, you should check to ensure the indicator is providing correct signals by reviewing the previous signals to ensure that they adequate identified reversals.
It is also best not to use this alone as your sole indicator. It is meant to be supplementary to other indicators/support resistance/chart patterns you are using to guide your trades. This will not replace good TA and a good understand of the stock and its likely trajectory.
As always, please feel free to share your comments/feedback/questions and recommendations below.
As always, I do customary tutorial videos for my indicators, so please see below for an in-depth video tutorial should you want to see it in action:
Otherwise, happy holidays everyone! And all of the best over this Christmas weekend to you and your loved ones!
Welcome Steversteves I liked the indicator Z-Score Buy and Sell Signals But I tried the numbers 12 - 20 - 26 - 44 - 88 - 144 - 244. Since I want to test all the numbers at once so that I can rely on the numbers that give a signal, I can rely on it Your trading subscription entitles you to 10 indicators Do you modify the indicator and combine at least 10 numbers into one indicator?
Steversteves
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@essa01234, Hello Friend, I don't quite understand your question. But please note, I consider this indicator a legacy indicator and is no longer being supported/updated by me as a few of my newly available indicators have replaced the utility of this one (most notably Math Trading Concepts). Thanks for your interest and safe trades!
essa0123
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@Steversteves, Thank you for your nice response I know that the indicator is old But I am new to Viewa trading I sent you a private message It has a picture The goal is to add more than one number into one indicator. The one that meets the condition gives me the number instead of the word buy or sell. It shows me a number Because I see it as a good indicator Help me thanks
Hi! I noticed you mentioned that best settings are 50 or 75 for lower timeframes. I wonder what you think about the period 2.
I set the period to 2. And signals show up after every 20 candles. On the 1 minute timeframe, they seem to be accurate for scalping.
I would like to hear your thoughts. Do you think this could be profitable in the long run?
Since these are 1 minute candles and I'm using it on a 24-hour futures ticker, I can't go far back enough to do a solid backtest of months of data.
Is there any way I can chat with you for a bit? I am unable to send you a private message. It says your privacy settings don't allow it.