AlAlawi ~ Volume Confidence Breakout

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This is a Volume statistical mean and Lognormal deviation

This indicator shows X amount of Volume bars Lognormal Mean and Standard Deviation, then applies your confidence level.

Just hit like to keep getting free indicators!
Phát hành các Ghi chú: No major change to the original code, changed the default number of volume bars to get closer to the mean and lowered the confidence level to 90% ~ 1.645.

Changed the line to a Histogram with easier to see Get Ready Bars.

This indicator is one of my favourite for its sheer simplicity, enjoy it!
Phát hành các Ghi chú: Adding Text for clear labeling
Phát hành các Ghi chú: Finalized the LUX on this indicator with a few mods, sadly, replicating the original Volume indicator takes a toll on productivity and decided to just not to try to overlay the indicator on the price chart.

Changes are done to the script to improve missed Volume Breakouts due to Standard Error of the Sample size, I decided to have it relatively aggressive to increase the number of breakouts for overall less volatile instruments that most FX Traders would enjoy such as EURUSD

Note~ The aggressiveness here is not considered a faulty approach, just statistically riskier relatively while this indicator is also not built to be used Solely without due diligence.

If you make money with this Replacement of the Volume, SMASH that LIKE button to help boost the Free Indicators Morale!
Phát hành các Ghi chú: Adjusted the format of the figures to read as Volume such as (10K)

Hit like or TROLL this indicator out!
Phát hành các Ghi chú: Okay another fancy upgrade to this Indicator is to have a Dynamic Confidence Level that would generally increase at times of significant volatility where volume continues to rapidly breakout a constant 90% (1.645) confidence level for example...

So we run a count of Breakouts to adapt for Significant Activity,
if there were Less than 25 Breakouts, we would have 90% 1.645
if there were Less than 50 Breakouts, we would have 95% 1.96
if there were Less than 75 Breakouts, we would have 99% 2.576
Else Pi is what I use as my THEORETICAL 100% Confidence Level.

if you don't like it TROLL this indicator, else a simple thank you is just a good motivation.
Phát hành các Ghi chú: Accelerated the Velocity of Breakout Adjustment on the Dynamic Confidence, this should help improve responsiveness.
Phát hành các Ghi chú: Added a title to the plots to easily identify them from the settings clog ...
Phát hành các Ghi chú: Clean Up!
Phát hành các Ghi chú: As part of getting a better point estimate of a more reliable mean if that makes any sense to Humans out there !!
I decided to trim away the outliers in the sampled data should they become in excess of 95% or lower than 5% to avoid skewed data and get a normal distribution (less probability in the tails)

This hopefully would now work better on Stocks due to the nature of trading on equities.
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Bình luận

would be nice to distinguish buying and selling tho)
Phản hồi
@mrgr888n, The volume bars solely isn't sufficient to predict the direction, but it does illustrate areas of significant activity which usually act as Support and Resistance Levels or were indeed so in the past already.
Phản hồi
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