DonovanWall

Multi Z Score [DW]

This is an experimental study using z scores of multiple sampling periods to analyze price trends.
Z score measures the number of standard deviations price is from its mean.

In this study, z scores are calculated over a Fibonacci sequence of sampling periods from 3 to 4181.
The scores are then averaged with equal weighting, resulting in a display of long term trend with short term sensitivity.

Custom bar colors are included. The color scheme is based on the perceived trend from the average z score.
Phát hành các Ghi chú: Updates:

Added dynamic weightings to the script based on a request @mcbw_.
There are four weigting methods to choose from:
-> Equal Weights - The original method.
-> Volume Weights - Weights each Z score by its cumulative volume
-> Length Weights - Weights each Z score by its sampling period
-> Volatility Weights - Weights each Z score by its standard deviation of price over its respective sampling period

Added exponential smoothing to the script for a noise reduced result

Made some changes to the aesthetic:
-> Average Z Score is now plotted as columns
-> Individual Z Scores are now plotted as circles
Phát hành các Ghi chú: Updates:

-> Migrated to v4.
-> Rebuilt script and reorganized the structure.
-> Main calculations have been converted to functions.
-> Z-scores now have adjustable periods and toggle switches so you can customize your experience.
-> Fixed an issue with volume detection. Now, when volume weigths are being used, tick volume will automatically be used when real volume is NaN.
-> Added an option to invert the weights for average Z-score. Enabling this will place heavier weighting on shorter term data. This does not affect the output when equal weights are used.
-> Revamped color scheme.
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For my full list of premium tools, check the blog:
https://wallanalytics.com/

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https://t.me/DonovanWall

Bình luận

Man, absolutely love this one. Thanks for putting it together. I paired it with McGinley Fan (13, 26, 52) and it works like a charm
+2 Phản hồi
Would be super interesting to see this with dynamic weightings
+2 Phản hồi
@mcbw_, A dynamic weighting would potentially deliver an interesting result. However, the reason for the equal weightings is that I wanted equal emphasis on long and short term parts.

I could always incorporate different weighting options though, so I'll play around with some different methods for weighting and incorporate any useful ones in an update.
+2 Phản hồi
DonovanWall DonovanWall
@mcbw_ , The script now has four weighting options.
+4 Phản hồi
mcbw_ DonovanWall
Hey @DonovanWall ! I am very excited to test this out and see what new possibilities there are. Thanks for throwing this in! Always solid work
+3 Phản hồi
Looks phenomenal @DonovanWall !!

Would love to test this out more - I'm wondering if there's anyway this can be converted to a Strategy/Backtester script I can have a play with? I've gave it a go and it's obviously way over my head as my strategy work only incorporates basic 2-line cross based indicators at this stage...
+1 Phản hồi
Can't wait to play with it, Thank you mate
+1 Phản hồi
Absolutely enjoying this! Love to see z-score due to its statically value! Hope to see some more work with z-score from your brilliant mind
Phản hồi