This indicator calculates standardized z-scores of price data across four different lookback periods (6, 14, 26, and 100). Standardizing data subtracts the moving average from the price and divides by the standard deviation. It applies a Double Exponential Mov
Indicator · Pine Script v4 · Own pane
SpreadTrade: Distance (v.2)
This indicator implements a distance-based pair trading strategy applied across two timeframes of the same instrument.
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code102
Settings8inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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
SpreadTrade: Distance (v.2) calculates the spread or statistical distance between price data on the active chart and a secondary timeframe using selected metrics like Euclidean, Manhattan, or Cosine similarity. The script plots standard deviation bands around a moving average of the spread in a separate pane to identify potential mean-reverting market conditions.
- Multi-timeframe spread distance calculation
- Multiple distance measures
- Rolling mean and standard deviation bands
- Configurable secondary timeframe lookup
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Mean reversion
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 |
|---|---|---|---|
| Price Data | source | close | price |
| 2nd Time Frame | int | 2 | tf |
| Lookback Window | int | 15 | p |
| Multiplier for Std | float | 1.2 | mult |
| Distance Type | string | Spread | dtype |
| Averaging | string | SMA | atype |
| Repaint? | bool | false | repnt |
| Show Middle Line? | bool | false | usemid |
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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