The Expectation Maximization Gaussian Mixture Regime indicator clusters market states into two to five components using an online Expectation-Maximization Gaussian Mixture Model. It processes three input features: volatility-normalized momentum, relative volat
Indicator · Pine Script v4 · On the chart
Volume Weighted Distance
Volume Weighted Distance applies statistical and machine learning distance metrics between source prices and their rolling mean, weighted by volume, to identify local trend reversals.
Repaints
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code57
Settings4inputs
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
Users can select from Manhattan, Euclidean, Mahalanobis, Cosine Similarity, and Correlation Distance methods. When the weighted distance crosses a user-defined threshold during a price pivot, bullish or bearish shape labels are plotted on the main chart. Due to a negative plot offset, historical label locations repaint.
- Multiple distance algorithms including Manhattan and Euclidean
- Volume-weighted logarithmic distance calculation
- Threshold-based trend pivot detection
- Configurable lookback window and source price input
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Volume, AI / machine learning
Markets
Crypto
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
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 |
| Distance measure | string | Manhattan | method |
| Lookback Window | int | 2 | p |
| Threshold | float | 10.5 | thres |
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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