The Z-Score is an Elite Membership Premium Indicator which allows you to monitor how far price is away from the mean value of price. Highly customisable allowing you to change the mean calculation method from various Moving Average types and also the smoothing line calculation method (again various Moving Average types).
After configuring the mean method and the smoothing line method you can then change the mean deviation method between:
- Average Deviation
- Standard Deviation
- Average True Range (ATR)
An extremely powerful Indicator and used in context with other Indicators can confirm a breakout or potential reversals.
In this example we have the EURUSD pair on the 15 minute chart for showcasing the Forex Oracle
**ON THE CHART INDICATORS**
-We have the Forex Oracle in the main chart (printed coloured zones).
-We also have our Moving Averages set to the Daily moving averages of EMA's 14, 30 and 60. One thing you will notice is that our Professional Moving Averages are smooth and not like, like every other MTF Moving Average on Trading View.
-We also have this Indicator, our Z-Score which is highly customisable giving good indications when price may be too far away from its realistic price and also to give context to the Forex Oracle Indicator
-Lastly we have the FX Index which is highly customisable to compare many things between currencies. In this instance we have activated and this shows us that greater is being traded across the board in the base currency (EUR) than the quote currency (USD), showing much more interest by traders in the EUR.
**MASTERS OF TRADING**
Many Thanks and Trade Safe!
To request access to this indicator, please use the links provided below
📺 YouTube: https://youtube.com/c/MastersofTrading
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact MastersOfTrading for more information, or follow the author's instructions below.
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