What is a Bayes Estimator? Bayesian estimation, or Bayesian inference, is a statistical method for estimating unknown parameters of a probability distribution based on observed data and prior knowledge about those parameters. At first , you will need a prior probability distribution, which is a prior belief about the distribution of the parameter that you are...
In developing the "Likelihood of Winning - Probability Density Function (PDF)" indicator, my aim was to offer traders a statistical tool to quantify the probability of reaching target prices. This indicator, grounded in risk assessment principles, enables users to analyze potential outcomes based on the normal distribution, providing insights into market...
The Breakout Probability Indicator is a cutting-edge tool designed for traders looking to gauge the likelihood of price breakouts above or below current levels. This indicator intelligently combines Average True Range (ATR) and recent price action to provide a probabilistic insight into potential future price movements, enhancing strategy formulation and risk...
The ATH (All-Time High) Drawdown Indicator, developed by Atilla Yurtseven, is an essential tool for traders and investors who seek to understand the current price position in relation to historical peaks. This indicator is especially useful in volatile markets like cryptocurrencies and stocks, offering insights into potential buy or sell opportunities based on...
The "Pro Bollinger Bands Calculator" indicator joins our suite of custom trading tools, which includes the "Pro Supertrend Calculator", the "Pro RSI Calculator" and the "Pro Momentum Calculator." Expanding on this series, the "Pro Bollinger Bands Calculator" is tailored to offer traders deeper insights into market dynamics by harnessing the power of the Bollinger...
█ Overview The Candles In Row (Expo) indicator is a powerful tool designed to track and visualize sequences of consecutive candlesticks in a price chart. Whether you're looking to gauge momentum or determine the prevailing trend, this indicator offers versatile functionality tailored to the needs of active traders. The Candles In Row indicator can be an...
This Normal Distribution Curve is designed to overlay a simple normal distribution curve on top of any TradingView indicator. This curve represents a probability distribution for a given dataset and can be used to gain insights into the likelihood of various data levels occurring within a specified range, providing traders and investors with a clear visualization...
Understanding the Indicator: The indicator calculates the probabilities of upward and downward trends based on the percentage change in price over a specified lookback period. It displays these probabilities in a table and plots a histogram to represent the difference between the probabilities. The colors of the histogram bars indicate the trend direction and...
The "Trend Reversal Probability Calculator" is a TradingView indicator that calculates the probability of a trend reversal based on the crossover of multiple moving averages and the rate of change (ROC) of their slopes. This indicator is designed to help traders identify potential trend reversals by providing signals when the short-term moving averages start to...
An experimental indicator that uses historical prices and readings of technical indicators to give the probability that stock and crypto prices will be in a certain range on the next close. This indicator may be helpful for options traders or for traders who want to see the probability of a move. It classifies returns into five categories: Extreme Rise -...
This script is a quantitative price forecasting indicator that forecasts price changes for a given asset. The model aims to forecast future prices by analyzing past data within a selected time period. Mathematical probability is used to calculate whether starting from time X can lead to reaching prices Y1 and Y2. In this context, X represents the current...
This script calculates upper and lower bands using Chebyshev's inequality formula. The main pros.: the band doesn't depend on particular distribution. It fits to any type of random variables. Also it allows to calculate bands for instruments with extremely high volatility. Cons.: formula provides a rough estimation in some special cases like lognormal distribution.
Three trend indicators in one. Fork of Gunslinger2005 indicator, with a fix to display the nQQE oscillator correctly and clearly, and converted to pinescript v5 (allowing to set a different timeframe and gaps). How to use: Essentially, nQQE is a long term trend indicator which is more adequate in daily or weekly timeframe to indicate the current market cycle....
🔮☁️ This is the BASIC version of the PROBABILITY CLOUD indicator. It is an evolution beyond traditional standard deviation probabilistic indicators only using bands or channels. The new PROBABILITY CLOUD graphic representation with customizable transparent layers is based on -2 / +2 standard deviation calculated using 20 fixed predetermined time periods, and is...
█ Overview Breakout Probability is a valuable indicator that calculates the probability of a new high or low and displays it as a level with its percentage. The probability of a new high and low is backtested, and the results are shown in a table— a simple way to understand the next candle's likelihood of a new high or low. In addition, the indicator displays...
This script is meant to help verify the existence of a seasonal effect in asset returns, using a Z-test. There are three steps: 1. Think of a way to identify a season. The available methods are: by month, by week of the year, by day of the month, by day of the week, by hour of the day, and by minute of the hour. 2. Set the chart to the unit of your season. For...
A probability cone is an indicator that forecasts a statistical distribution from a set point in time into the future. Features Forecast a Standard or Laplace distribution. Change the how many bars the cones will lookback and sample in their calculations. Set how many bars to forecast the cones. Let the cones follow price from a set number of bars back. ...
Based on historical data (rather than theory), calculates the probability of a price level being "touched" within a given time frame. A "touch" means that price exceeded that level at some point. The parameters are: - level: the "level" to be touched. it can be a number of points, percentage points, or standard deviations away from the mark price. a positive...