Description
Description:
The ZScoreIndicator is designed to calculate the Z-score of a financial instrument's closing prices over a specified rolling window period. The Z-score is a statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations. This indicator helps traders identify overbought or oversold conditions based on standard deviation thresholds.
Features:
- Rolling Window: Allows setting the period over which the rolling mean and standard deviation are calculated.
- Threshold Parameters:
- Buy Z-Score Threshold: Sets the Z-score level below which a buy signal is generated.
- Sell Z-Score Threshold: Sets the Z-score level above which a sell signal is generated.
- Close Z-Score Threshold: Sets the Z-score level at which positions should be closed.
- Signal Cool Down Period: Defines a period to wait before issuing a new signal after a buy or sell signal.
This indicator assists traders in identifying potential trading opportunities by highlighting overbought and oversold conditions using statistical measures.
![Screenshot image](https://img.chartshots.net/664ed7d758e2c.png)
Above are the example of XAUUSD with H1 timeframe.
The threshold is 2.8 and -2.8 level.
The author decided to hide the source code.
HO
honglee_0903
Joined on 26.01.2024
- Distribution: Paid
- Language: C#
- Trading platform: cTrader Automate
- File name: Zscore.algo
- Rating: 0
- Installs: 0
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