Z-Score for NDX (NASDAQ-100)

Mike

Member
VIP
Can anyone help me to modify the Z-Score indicator (see below) such that it will plot the Z-Score for the following ((AAPL+MSFT+AMZN+GOOG+FB+TSLA)/6) in a subgraph below a chart of the NASDAQ 100 Index (NDX). I’ve made numerous attempts but have been unsuccessful. Thanks!

Code:
#Computes and plots the Zscore

#Provided courtesy of ThetaTrend.com

#Feel free to share the indicator, but please provide a link back to ThetaTrend.com

declare lower;
input price = close;
input length = 20;
input ZavgLength = 20;

#Initialize values

def oneSD = stdev(price,length);
def avgClose = simpleMovingAvg(price,length);
def ofoneSD = oneSD*price[1];
def Zscorevalue = ((price-avgClose)/oneSD);
def avgZv = average(Zscorevalue,20);

#Compute and plot Z-Score

plot Zscore = ((price-avgClose)/oneSD);
Zscore.setPaintingStrategy(paintingStrategy.HISTOGRAM);
Zscore.setLineWeight(2);
Zscore.assignValueColor(if Zscore > 0 then color.dark_green else color.dark_green);
plot avgZscore = average(Zscorevalue,ZavgLength);
avgZscore.setPaintingStrategy(paintingStrategy.LINE);

#This is an optional plot that will display the momentum of the Z-Score average

#plot momZAvg = (avgZv-avgZv[5]);

#Plot zero line and extreme bands

plot zero = 0;
plot one = 1;
plot negone = -1;
plot two = 2;
plot negtwo = -2;
zero.setDefaultColor(color.black);
 
try replacing
input price = close
with this

Python:
#input price = close;

# ((AAPL+MSFT+AMZN+GOOG+FB+TSLA)/6)
def sym1 = close("AAPL");
def sym2 = close("MSFT");
def sym3 = close("AMZN");
def sym4 = close("GOOG");
def sym5 = close("FB");
def sym6 = close("TSLA");
def price = ((sym1 + sym2 + sym3 + sym4 + sym5 + sym6) / 6);
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

try replacing
input price = close
with this

Python:
#input price = close;

# ((AAPL+MSFT+AMZN+GOOG+FB+TSLA)/6)
def sym1 = close("AAPL");
def sym2 = close("MSFT");
def sym3 = close("AMZN");
def sym4 = close("GOOG");
def sym5 = close("FB");
def sym6 = close("TSLA");
def price = ((sym1 + sym2 + sym3 + sym4 + sym5 + sym6) / 6);
Thank you very much halcyonguy!
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
288 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top