OPEN-SOURCE SCRIPT

Z-Scored Volume [KFB Quant]

2 350
The Z-Scored Volume (CSV) indicator is designed to make it easier to identity potential market extremes.

What is the Z-Score?
  • The Z-Score is a statistical measure that quantifies how far a particular data point is from the mean of a group of data. It's expressed in terms of standard deviations from the mean.

    How to calculate the Z-Score?
  • Z-Score = (Value - Mean) / StDev

    How the script works
  • In this script we calculate the Z-Score of the charts volume.
  • We get the Mean of the predefined period in the Length Configuration tab by using the ta.sma function.
  • We get the StDev of the predefined period in the Length Configuration tab by using the ta.stdev function.
  • The default period is 360.



    Past performance does not guarantee future results. This indicator is for informational & educational purposes only.

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