by 
This indicator measures statistical price deviations using the mean and standard deviation of logarithmic price. Plotted in a separate pane, it identifies overvalued and undervalued market conditions relative to a calculated fair-value baseline. Standard devia
Indicator · Pine Script v5 · Own pane
Function - Standardization (zScore)
This indicator calculates standardized z-scores of price data across four different lookback periods (6, 14, 26, and 100).
GitHub stars261on the repository
Pine versionv5runs as is
Lines of code28
Settings1inputs
LicenceNone stated
Last update4 years ago13 Nov 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Standardizing data subtracts the moving average from the price and divides by the standard deviation. It applies a Double Exponential Moving Average (DEMA) to smooth the z-score series. The results are plotted in a separate pane as overlapping area plots along with a smoothed trend line.
- Z-score standardization function
- Multiple lookback period calculations
- DEMA smoothing filter
- Multi-layered area plot visualization
Details
Published by
ricardosantos79 on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Mean reversion, Volatility & bands, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| smooth | int | 3 | smooth |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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