luminaryfi

Z-Score 'Bollinger Bands'

The following script is an application of the Z-Score (previous script).

Z-Scores can be used in place of standard deviation (sigma) in 'Bollinger Bands'.


The average of the sample (x-bar) over 21 days (N)
21 average trading days per month, fixed value

The average of the population (mu) over 63 days (n)
63 days per quarter, default is set to 63

Z-Score is calculated by formula in previous script, and the absolute value is taken of "Z".

Z-High = absolute value of Z + (x-bar).
Z-Low = absolute value of Z - (x-bar).

Will update with Z from mu and Z from avg (working on UX and visualization details).
Release Notes: added display options.

can choose from:

Z-Score from sample mean (x-bar)
Z-Score from population mean (mu)
Release Notes: //hexidecimal color switch
Release Notes: //test
Ta bort från favoritskript Add to favorite indicators

Kommentarer

Always top.
Svara
interesting to find your calculation of Z score uses Standard Error instead of Standard Deviation as denominator . May I know your thought process behind this ? Thanks!
Svara
hey man, i was thinking that in case of such PROPER use of statistics & difference between sample/population... Think about implementing Bessel's correction for x-bar. Me personally I don't really trust this concept, but I can be wrong, and it looks like u know the thing
Bless
Svara
very interesting, thanks for sharing!
Svara
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