Uni VWAP + EMA ScalperSimple VWAP + EMA crossover test script for personal use and signal experiments.
Prototype tool combining VWAP and EMA crossovers for testing trade timing. Not optimized for live trading.
Indicadores e estratégias
Morning Star & Rising Star Detector - Neon CandlesMorning Star & Rising Star to determine several levels and forecast what might happen next with the price.
QuickInputsLevelParserLibrary "QuickInputsLevelParser"
Provides a parsing library that indicator authors can use in order to parse Quick Inputs Levels.
parseLevels(s)
Parses the string content and returns the `QILevels` found within.
Parameters:
s (string) : The string to parse.
Returns: The parsed WTD levels.
zoneRange
Fields:
high (series float)
low (series float)
QILevels
Fields:
supplyLines (array)
supplyZones (array)
majorLines (array)
onZones (array)
onLines (array)
highLines (array)
lowLines (array)
htfZones (array)
mansupLines (array)
mansupmajLines (array)
mansupZones (array)
mansupmajZones (array)
manresLines (array)
manresmajLines (array)
manresZones (array)
manresmajZones (array)
Hourly High Low Short LinesDraws short horizontal lines at the previous hour’s high and low, aligned perfectly with the candle’s top and bottom.
It’s concise, clear, and fits well for the public script description box.
Z-Score of RSI//@version=5
indicator("Z-Score of RSI", overlay=false)
// Tham số
rsi_length = input.int(14, "RSI Length")
z_length = input.int(60, "Z-Score Period")
// Tính RSI
rsi = ta.rsi(close, rsi_length)
// Tính Z-Score
mean_rsi = ta.sma(rsi, z_length)
std_rsi = ta.stdev(rsi, z_length)
z_rsi = (rsi - mean_rsi) / std_rsi
// Vẽ biểu đồ
plot(z_rsi, color=color.new(color.aqua, 0), linewidth=2, title="Z-Score(RSI)")
hline(0, "Mean", color=color.gray)
hline(2, "Overbought (+2σ)", color=color.red)
hline(-2, "Oversold (-2σ)", color=color.lime)
// Cảnh báo (tuỳ chọn)
bgcolor(z_rsi < -2 ? color.new(color.lime, 85) : na)
bgcolor(z_rsi > 2 ? color.new(color.red, 85) : na)
Filled Fair Value GapsThese are filled fvgs it only shows filled fvgs so you can see where price is retracing to and don't have 50 fvgs on your screen
ATR Channel (Bottom & Top)The ATR Channel (Bottom & Top) indicator dynamically visualizes market volatility zones based on the Average True Range (ATR). It automatically builds adaptive upper and lower boundaries around the current price, helping traders identify potential market extremes, volatility-driven reversals, and dynamic support/resistance levels.
This version is specifically optimized for Bitcoin (BTCUSDT) but works with any asset or timeframe.
⚙️ How It Works
The indicator calculates ATR over a user-defined period (default 200) and applies separate multipliers for the top and bottom bands (default ×1).
The Top Band = Close + (ATR × Multiplier)
The Bottom Band = Close - (ATR × Multiplier)
These two adaptive bands create a volatility envelope, allowing traders to visualize where the price may encounter potential exhaustion or reversal zones.
💡 Signal Logic
LONG Signal (Green Tab):
Triggered when the low of the candle touches or dips below the ATR bottom line — suggesting a possible oversold or volatility-based bottoming area.
The label displays the exact ATR line value (not the close), formatted for better readability (e.g. “LONG 103 885”).
SELL Signal (Red Tab):
Triggered when the high of the candle touches or exceeds the ATR top line — signaling possible overbought conditions or an exhaustion zone.
Signal Filtering:
The script intelligently avoids duplicate signals — e.g., multiple consecutive LONGs or SELLs will not appear until the opposite signal is triggered.
This ensures cleaner visualization and reduces signal noise during consolidation periods.
🎯 Features
✅ Adaptive ATR-based volatility channel
✅ Automatic LONG/SELL signal labeling with real ATR-touch prices
✅ Customizable parameters:
✅ Intelligent filtering (one signal per phase)
✅ Works on any market and timeframe (crypto, forex, indices, stocks)
🧭 Trading Applications
Identify volatility extremes (ATR-based overbought/oversold zones)
Detect reversal points or exhaustion moves after extended trends
Use with trend filters (e.g. EMA200) to confirm trend continuation vs mean reversion setups
Combine with oscillators (RSI, Stoch) for confluence signals
📊 Summary
The ATR Channel (Bottom & Top) provides a clear, professional-grade visualization of volatility dynamics and price extremes.
It is especially useful for traders using mean-reversion, volatility breakout, or swing-trading strategies — helping them identify statistically significant reaction zones and improving trade timing precision.
Candle Color & Time Filter + Flexible Price Triggeraggiornamento con offset negativo sulla open close high low
[Statistics] killzone SFPSFP Statistics (ICT Sessions)
This indicator automatically finds and draws the high and low of the Asia, London, and New York trading sessions. It then hunts for Swing Failure Patterns (SFPs) that sweep these key session levels.
The main purpose of this script is to gather statistics on when these high-probability SFPs occur, allowing you to map out and identify the times of day when they are most frequent.
How to Use This Indicator
Set Your SFP Timeframe: In the settings, choose the timeframe you want to hunt for SFPs on (e.g., 1H, 15m). Important: You must also set your main chart to this exact same timeframe for the statistics to be collected correctly.
Define Your Sessions: Go to the "Session Definitions" tab.
Set the Global Timezone to your preferred trading timezone (e.g., "America/New_York"). This controls all session times and table times.
Adjust the start and end times for Asia, London, and NY AM sessions.
You can turn off sessions you don't want to track (like NY Lunch or NY PM).
You can also change the colors and text style for the session boxes here.
Set Confirmation Bars: In "SFP Engine Settings," the "Confirmation Bars" (default is 2) defines how many bars must close after the SFP bar without invalidating the level. An SFP is only "confirmed" and drawn after this period.
0 = Confirms immediately on the SFP candle's close.
2 = Confirms 2 bars after the SFP candle's close.
Read the Statistics: The "Custom SFP Statistics" table will appear on your chart. This table logs every confirmed SFP and tells you:
Which time of day they happen most.
How many were Bearish (swept a high) vs. Bullish (swept a low).
It's set by default to show the "Top 20" most frequent times, sorted chronologically.
Filter Your Chart (Optional): If your chart feels cluttered, go to "Visual Time Filter" and turn it ON.
Set a time window (e.g., "09:30-11:00").
The indicator will now only draw SFP signals that occurred within that specific time window. This is perfect for focusing on a single killzone.
How to Set Up Alerts
You can set up server-side alerts to be notified every time a new SFP is confirmed.
Check the "Enable SFP Alerts" box at the top of the indicator's settings.
Click the "Alert" button (alarm clock icon) on the TradingView toolbar.
In the "Condition" dropdown, select "SFP Statistics (ICT Sessions)".
In the second dropdown, choose "Any alert() function call".
Most Important Step: In the "Message" box, delete any default text and type in this exact placeholder:
{{alert_message}}
Set the trigger to "Once Per Bar Close".
Click "Create".
How Alerts Work (Triggers & Filtering)
Trigger: Alerts are tied to the confirmed signal. An alert will only fire after your "Confirmation Bars" have passed and the SFP is locked in. This prevents you from getting alerts on fake-outs.
Alert Filtering: The alerts are linked to the "Visual Time Filter". If you turn on the Visual Time Filter (e.g., to 09:30-11:00), you will only receive alerts for SFPs that are confirmed within that time window. If an SFP happens at 14:00, the script will ignore it, it will not be drawn, and it will not send you an alert. This allows you to get alerts only for the session you are actively trading.
Note: This is a first draft of this indicator. I will continue to work on it and improve it over time, as it may still contain small bugs.
Acknowledgements:
A big thank you to TFO (tradeforopp). The session detection logic and the visual style for the session boxes were adapted from his excellent "ICT Killzones & Pivots " indicator.
Candle Color & Time Filter + Flexible Price Triggeran indicator inspsired by a friend trader, it will tell you when a candle changes color, during the time window you like, and to the threshold you prefer respect to the previous candle
Position Sizer (% of Acct & Shares Req)
This indicator calculates % position size and share quantity required based on total capital and user-defined risk percentages
This indicator differs from the Shares Qty indicator in that it is based on %'s rather than a user-defined, fixed dollar amount to risk (for those who prefer to calculate risk in this manner instead)
Tracks real-time Low of Day (LoD) during regular trading hours (RTH) for accurate stop placement
Current price as well as output rows 2 and 3 can be toggled on/off, per preference
Allows stop loss selection between LoD, Low of Week (LoW), and Prior Day Low (PDL)
Keeps data updating intraday to reflect changing LoD and price conditions
Provides a second “Stop Loss Compare” dropdown to compare two stop methods side by side
Displays all results in a dynamic on-chart table that updates with live prices
Shows capital amount, stop type, stop price, and share counts for three risk levels
=========
Risk rows displayed as: Risk of Cap Amt: ,
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Disclaimer:
This indicator is for educational and informational purposes only. It should not be used as the sole basis for trading decisions. Always combine with other forms of analysis, proper risk management techniques, and consider your individual trading plan and risk tolerance. All calculations and outputs are provided as-is, and it is your responsibility to verify their accuracy before making any trading decisions.
GK Starforge Breakout V2FORGED FROM THE STARS- Built for Precision
the Gk Starforge breakout V2 detects major breakout moves when price CLOSES ABOVE PREVIUOS HIGH (GK BUY) or BELOW THE PREVIOUS LOW (GK SELL)
It includes ATR based TP and the option to show one signal per trend for cleaner charts
non repainting and optimized for XAUUSD this indicator helps you catch real structure breaks with clarity and confidence
it prints a buy print or sell print along with a TP based ATR next to it
2 prints either side
XenoSmooth Predictive Candles - Advanced Heikin Ashi CandlesXenoSmooth Predictive Candles
Summary in one paragraph
A synthetic candle engine for crypto, FX, equities, and futures on intraday to swing timeframes. It reduces noise and flip delay so structure is easier to read. The core novelty is a predictive open with inertia plus slope lead fused with a zero lag body filter and an overshoot based wick model normalized by the real range and capped by ATR. Add it to a clean chart, hide regular candles if desired, and tune lengths. Shapes can move while the bar is open and settle on close. For conservative workflows read on bar close.
Scope and intent
• Markets. Major FX pairs, index futures, large cap equities, liquid crypto
• Timeframes. One minute to daily
• Purpose. Faster and smoother visual structure than Heikin Ashi while keeping causality and realistic wicks
Originality and usefulness
• Unique concept. Predictive open with inertia and slope lead plus selectable zero lag body filter and ATR capped wick overshoot in percent of real range
• Failure mode addressed. Late flips in chop and unreal long wicks from raw extremes
• Testability. Every control is an input. Users can toggle body method, lengths, clipping, and percent modeling
• Portable yardstick. ATR based wick cap and percent of bar range scale across symbols
Method overview in plain language
Build a robust base price from O, H, L, and extra weight on Close. Smooth it with a chosen filter to produce the synthetic close. Drive a predictive open that follows the synthetic close with tunable inertia and a small lead from the last bar slope. Model wicks as the portion of the real extremes that extends beyond the synthetic body, smooth that overshoot, normalize by the bar range if selected, then cap by ATR to avoid tail spikes. Clamp synthetic values to the real high and low if enabled.
Base measures
• Range basis. True Range for the ATR cap and High minus Low for percent normalization
• Return basis. Not used
Components
• Body Base Blend. Weighted O H L with a close bias to stabilize the base
• Zero Lag Body Filter. ZLEMA or Super Smoother or WMA to set the synthetic close
• Predictive Open. Inertial follow of the synthetic close plus a slope lead term
• Wick Overshoot Model. Smoothed extension beyond the body, optional percent of real range, ATR cap
• Clamp Option. Keeps synthetic open and close inside the real bar range
Fusion rule
• Synthetic close equals filtered base
• Synthetic open equals previous open plus inertia times distance to synthetic close plus slope lead
• Wicks equal smoothed overshoot above and below the body, optionally percent of range then converted back to price and capped by ATR
Inputs with guidance
Setup
• Signal timeframe. Uses the chart timeframe
• Invert direction. Not applicable
• Session windows. Not applicable
Logic
• Body length. Core smoothing length for the synthetic close. Typical 6 to 14. Higher gives smoother and slower. Lower gives faster flips
• Body method. ZLEMA or Super Smoother or WMA. ZLEMA is fastest. Super Smoother is calmest
• Close weight in base. 0 to 1. Higher gives stronger emphasis on close and less noise
• Open inertia. 0 to 1. Higher makes the open follow the close more tightly
• Lead gain. 0 to 1. Higher adds more phase lead. Keep modest to avoid overshoot
• Clamp body to real range. On keeps synthetic body inside high and low
• Wick smooth length. Typical 4 to 10. Higher reduces jitter
• Overshoot as percent. On stabilizes wicks across regimes
• ATR length. Typical 10 to 20 for the cap
• Max wick equals ATR times. 0 disables. 1.0 to 2.0 contains extreme tails
Filters
• Efficiency or trend filter. Not used
• Micro versus macro range relation. Not used
• Location filter. Not used
Realism and responsible publication
• No performance claims
• Intrabar motion reminder. Shapes can move while a bar forms and settle on close
• Strategies must use standard candles for signals and orders
Honest limitations and failure modes
• High impact releases and thin liquidity can distort wicks and produce gaps that any smoother cannot predict
• Very quiet regimes can reduce contrast. Consider longer body length
• Session time on the chart controls the definition of each bar
Improved ICT MultiTF A+ IndicatorThis indicator provides ICT-style multi time frame fair value gaps with a 4-hour moving average bias. It prioritizes 15-minute gaps and falls back to 5-minute and 1-minute gaps when none are present. It also includes alert conditions for long and short signals based on session filters and bias.
Multi EMA + Indicators + Mini-Dashboard + Reversals v6📘 Multi EMA + Indicators + Mini-Dashboard + Reversals v6
🧩 Overview
This indicator is a multi-EMA setup that combines trend, momentum, and reversal analysis in a single visual framework.
It integrates four exponential moving averages (EMAs), key oscillators (RSI, MACD, Stochastic, CCI), volatility filtering (ATR), and a dynamic mini-dashboard that summarizes all signals in real time.
Its purpose is to help traders visually confirm trend alignment, filter valid entries, and identify possible trend continuation or reversal points.
It can display buy/sell arrows, detect reversal candles, and issue alerts when trading conditions are met.
⚙️ Core Components
1. Moving Averages (EMA Setup)
EMA1 (fast) and EMA2 (medium) define the short-term trend and trigger bias.
When the price is above both EMAs → bullish bias.
When below → bearish bias.
EMA3 and EMA4 act as trend filters. Their slopes (up or down) confirm overall momentum and help validate signals.
Each EMA has customizable lengths, sources, and colors for up/down trends.
This “EMA stack” is the foundation of the setup — a structured trend-following framework that adapts to market speed and volatility.
2. Momentum and Confirmation Filters
Each indicator can be individually enabled or disabled for flexibility.
RSI: confirms direction (above/below 50).
MACD: detects momentum crossover (MACD > Signal for bullish confirmation).
Stochastic: identifies trend continuation (K > D for longs, K < D for shorts).
CCI: adds trend bias above/below a threshold.
ATR Filter: filters out small, low-volatility candles to reduce noise.
You can activate only the filters that fit your trading plan — for instance, trend traders often use RSI and MACD, while scalpers may rely on Stochastic and ATR.
3. Reversal Detection
The indicator includes an optional Reversal Section that independently detects potential turning points.
It combines multiple configurable criteria:
Candlestick patterns (Bullish Hammer, Shooting Star).
Large Candle filter — detects unusually large bars (relative to close).
Price-to-EMA distance — identifies overextended moves that might revert.
RSI Divergence — detects potential momentum shifts.
RSI Overbought/Oversold zones (70/30 by default).
Doji Candles — sign of indecision.
A bullish or bearish reversal signal appears when enough selected criteria are met.
All sub-modules can be toggled on/off individually, giving you full control over sensitivity.
4. Signal Logic
Buy and sell signals are triggered when EMA alignment and the chosen confirmations agree:
Buy Signal
→ Price above EMA1 & EMA2
→ Confirmations (RSI/MACD/Stoch/CCI/ATR) pass
→ Trend filters (EMA3/EMA4) point upward
Sell Signal
→ Price below EMA1 & EMA2
→ Confirmations align bearishly
→ Trend filters (EMA3/EMA4) slope downward
Reversal signals can appear independently, even against the current EMA trend, depending on your settings.
5. Visual Dashboard
A mini-dashboard appears near the chart showing:
Current trade bias (LONG / SHORT / NEUTRAL)
EMA3 and EMA4 trend directions (↑ / ↓)
Quick visual bars (🟩 / 🟥) for each filter: RSI, MACD, Stoch, ATR, CCI, EMA filters
Reversal criteria status (Doji, RSI divergence, candle size, etc.)
This panel gives you a compact overview of all indicator states at a glance.
The color of the panel changes dynamically — green for bullish, red for bearish, gray for neutral.
6. Alerts
Built-in alerts allow automation or notifications:
Buy Alert
Sell Alert
Reversal Buy
Reversal Sell
You can connect these alerts to TradingView notifications or external bots for semi-automated execution.
💡 How to Use
✅ Trend-Following Setup
Focus on trades in the direction of EMA1 & EMA2.
Confirm with EMA3 & EMA4 trending in the same direction.
Use RSI/MACD/Stoch filters to ensure momentum supports the trade.
Avoid entries when ATR filter indicates low volatility.
🔄 Reversal Setup
Enable the Reversal section for potential tops/bottoms.
Look for reversal buy signals near support zones or after strong downtrends.
Use RSI divergence or Doji + Hammer signals as confirmation.
Combine with key chart areas (supply/demand or previous swing levels).
⚖️ Combination Approach
Trade continuation signals when all EMAs are aligned and filters are green.
Trade reversals only when at a key area (support/resistance) and confirmed by reversal conditions.
Always check higher-timeframe bias before entering a trade.
🧭 Practical Tips
Use different EMA sets for different timeframes:
9/21/50/100 for swing or trend trades.
5/13/34/89 for intraday scalping.
Turn off filters you don’t use to reduce lag.
Always validate signals with price structure, not just indicator alignment.
Practice in replay mode before live trading.
🗺️ Key Chart Confluence (Highly Recommended)
Although the indicator provides structured signals, its best use is in confluence with:
Support and resistance levels
Supply/demand zones
Trendlines and channels
Liquidity pools
Volume clusters
Signals aligned with strong key areas on the chart tend to have greater reliability than isolated indicator triggers.
I use EMA 1 - 20 Open ; EMA 2 - 20 Close ; EMA 3 - 50 ; EMA 4 - 200 or 100 , but that's me...
⚠️ Important Disclaimer
This indicator is a technical tool, not a guarantee of results.
Trading involves risk, and no signal is ever 100% accurate.
Every trader should develop a personal strategy, use proper risk management, and adapt settings to their instrument and timeframe.
Always combine indicator signals with key chart areas, higher-timeframe context, and your own analysis before taking a trade.
VWAP – Pivot Pairs (SECONDS‑BASED RESET)VWAP – Pivot Pairs (SECONDS-BASED RESET) is a Pine Script v6 indicator for TradingView that combines pivot-based breakout detection with resettable VWAP (Volume Weighted Average Price) calculations over user-defined rolling time periods in seconds.It identifies high and low swing pivots via breakout logic, then calculates two VWAP lines per anchor:One using high/low as the price source,
One using close as the price source.
These form "pivot pairs" that reset automatically at the start of each custom-duration period (e.g., every 300 seconds), starting from a user-defined UTC time of day (default: 09:30 UTC).Visuals include:Colored VWAP lines (high pair: red, low pair: green),
Semi-transparent fill zones between each pair,
Optional toggles to show/hide high or low pairs.
Use CasesUse Case
Description
Intraday Scalping (1–15 min charts)
Use 60–300 second resets to capture micro-trends within larger sessions. VWAP pairs act as dynamic support/resistance after breakouts.
High-Frequency / Algo Validation
Backtest strategies on tick/second charts where traditional session resets fail. Align resets with exchange micro-sessions or volatility windows.
Opening Range Breakout (ORB) Enhancement
Set period_seconds = 1800 (30 min) and start time = 09:30 UTC → VWAP builds only on first 30 mins post-open, then floats. Pairs show deviation from ORB mean.
Range-Bound Market Analysis
In choppy markets, VWAP pairs converge near fair value. Divergence signals potential breakout. Fill color intensity shows conviction.
Multi-Timeframe Confluence
Overlay on 1-second chart with 300s reset → matches 5-minute structure. Use close-based VWAP for entries, high/low-based for stops.
Key Features SummaryFeature
Function
period_seconds
Rolling window length in seconds (e.g., 300 = 5 min)
period_start_time
UTC time-of-day anchor (default: 09:30)
new_period logic
Triggers full reset of pivots + VWAP on exact second boundary
breakingHigher / breakingLower
Detects confirmed breakouts (not just close above high)
Dual VWAP per anchor
ta.vwap(high) and ta.vwap(close) for range-aware mean
Fill zones
Visual value area between high/close VWAPs
Toggle visibility
Independently show/hide high or low pivot pairs
How It Works – Step-by-StepTime Engine Converts user inputs → milliseconds
Calculates current period start time using integer division from epoch
Detects exact bar when new period begins (new_period = true)
On New Period Resets both high/low anchors to current bar’s h and l
Forces VWAP recalculation from this bar forward
Breakout Detection Only triggers on strong candles (rising/falling, non-doji)
Requires open/close beyond prior pivot → avoids wicks-only breaks
VWAP Accumulation ta.vwap(source, reset_condition) restarts when anchor resets
Two sources per side → shows where volume clustered (at highs vs closes)
Plotting Four lines + two fills
Clean, customizable, overlay-friendly
Pro TipsUse on Heikin Ashi for smoother breakout signals.
Combine with volume profile to validate VWAP clusters.
For crypto, set period_start_time = 0 (00:00 UTC) for clean 4-hour resets.
Add alerts on new_period or breakingHigher for automation.
In short: This is a precision VWAP tool for time-boxed, pivot-driven mean reversion and breakout trading, ideal for scalpers, day traders, and algo developers needing sub-session granularity.
Multi-Timeframe EMA Cloud StatusCompares the current bar on three configurable timeframes with the location of the "cloud" defined by the 20 and 50 period EMAs and, in table format, indicates if the bar is above, within or below the cloud.
Mother & Baby — Nifty 5m (Bull/Bear)The Mother & Baby — Nifty 5m (Bull/Bear) indicator automatically detects two-bar inside-bar patterns, where the second (child) candle is completely within the previous (mother) candle. It highlights potential bullish or bearish setups using boxes, labels, and alerts. Includes optional ATR filtering, high/low guide lines, and customizable visuals for clear pattern recognition. Designed for educational and analytical use only — not financial advice.
ATR / Price RatioDescription:
This indicator plots the ratio of the Average True Range (ATR) to the current price, showing volatility as a percentage of price rather than in absolute terms. It helps compare volatility across assets and timeframes by normalizing for price level.
A higher ATR/Price ratio means the market is moving a larger percentage of its value each bar (high relative volatility). A lower ratio indicates tighter, quieter price action (low relative volatility).
Traders can use this ratio to:
• Compare volatility between instruments
• Identify shifts into high or low volatility regimes
• Adjust position sizing and stop distances relative to risk
Contango/Backwardation Monitor
This is an indicator to display the spread difference between two products. I designed it around VX1! and VX2! but any other two products can be chosen. It is a simple subtraction of VX2-VX1. I will go through the options first and what they do followed by what contango/backwardation is in my own words. You will need the data package for VX futures for the default version to work.
INPUTS
-Apply Smoothing: choose to apply smoothing or not.
-Smoothing Method: choose between SMA,EMA,WMA, etc.
-Line Width: Width of line if line is chosen style(can be changed in style section)
-Threshold 1-5: This is the level at which the line will change colors(defaults are for VX)
-Color 1-5: The color the line will change to when crossing threshold.
Towards Backwardation: Background color change when line is slanted down
Towards Contango: Background color change when line is slanted up
Bars to Confirm Trend: This is my method to cut down on background color changes. It is how many bars consecutive going back needed to change color.
STYLE
-All colors and whatnot can be changed here(threshold colors can be changed here or on the input page).
T1 Line-T5 line: These are simple horizontal lines that can be used to denote threshold areas or whatever you want.
Contango/Backwardation-These terms are used mostly with futures to define the calendar spread between two contracts. Contango is when that spread is is getting longer and backwardation is when that spread is closing. In terms of VIX futures, Contango would imply that volatility is stabilizing and the S and P will likely gain. Backwardation, woudl eb the opposite.
The most simple way to read this indicator with default settings- If the line is up, red, and the background is red, then you can assume S and P prices are going down. And if the opposite is true, then prices are likely going up.
Please feel free to ask any questions and I will do my best to answer them.
Price Z-ScoreThe 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.
