OPEN-SOURCE SCRIPT
STDEMA Z-Score
STDEMA Z-Score Indicator
Overview
The STDEMA Z-Score Indicator provides a statistical approach to understanding price movements relative to its trend, using the Standard Deviation Exponential Moving Average (StdEMA) and Z-Score calculations.
Key Features
How to Use
Overview
The STDEMA Z-Score Indicator provides a statistical approach to understanding price movements relative to its trend, using the Standard Deviation Exponential Moving Average (StdEMA) and Z-Score calculations.
Key Features
- Z-Score Calculation: The Z-Score measures how far the current price deviates from its StdEMA, providing insight into whether the price is statistically overbought or oversold.
- EMA of Z-Score: This smooths the Z-Score for easier interpretation and signals potential reversals or continuation patterns.
- Customizable Inputs: Users can easily adjust the EMA length, standard deviation multiplier, and smoothing length to fit their trading style and market conditions.
How to Use
- Buy Signals: Look for the Z-Score EMA to cross above the 0 line, indicating potential bullish momentum.
- Sell Signals: Watch for the Z-Score EMA to cross below the 0 line, suggesting potential bearish momentum.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.