Z-Score Probability Indicator for ThinkOrSwim

TechGuy said:
Looks like a good scan. I tried to change the parameters to a shorter time frame to allow for intra day trading but it wouldn't let me alter the script. How would you suggest if I changed to a 15 minute or so timeframe? But if you think it doesn't make any sense, please comment. Thanks
Click to expand...
1. Click on the pencil
2. Manually change whichever inputs suite your fancy

In order to "share" scans, I have to use the "stuff all the code into Hacker" method.
But for the purpose of playing with the lookback and length fields; you would be better served
referencing your study in the scan hacker and use the condition wizard to change your lookbacks and lengths.
https://usethinkscript.com/threads/how-to-use-thinkorswim-stock-hacker-scans.284/
 

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MerryDay said:
1. Click on the pencil
2. Manually change whichever inputs suite your fancy
Click to expand...
Thanks MerryDay but I need your help on this scan. If I want to add this script as an additional filter to other studies for Futures and want the time frame to be 5 minutes and the level over 2, what line #'s do I change in the script? Assume I still want the length of ten. But if I change to a number less than 10, what line #'s do I change? Perhaps this won't work and is to complex for intraday trade scans?????
 
TechGuy said:
Thanks MerryDay but I need your help on this scan. If I want to add this script as an additional filter to other studies for Futures and want the time frame to be 5 minutes and the level over 2, what line #'s do I change in the script? Assume I still want the length of ten. But if I change to a number less than 10, what line #'s do I change? Perhaps this won't work and is to complex for intraday trade scans?????
Click to expand...
No, you cannot blindly change lengths and lookbacks.

1. You need to put the indicator on your chart many many times.
2. Change the colors of the plots so you can tell the difference between the many many versions.
3. Then it is relatively easy; through extrapolation and interpolation; to see which gets you closer to what you want your strategy to look like.

This is one of my favorite indicators. It is written, so you can have endless possibilities on any timeframe.
BUT BUT given the endless possibilities, you need to be methodical in your testing of the inputs to determine which ones moving you closer to your goal.

One of the inputs you definitely should be considering changing: the moving average default of sma which is not optimal for scalper timeframes of 5min and below.

To Answer Your Question
the moving average length is changed here:
input movAvgLength = 14; # "SMA Length"
Click to expand...

If your only criteria is all stocks over level 2 (which is not a great criterion) then you don't have to worry about changing lengths.
Because the level 2 calculations are not effected by the moving average lengths.

Again, this is why, you want to be testing the inputs on your charts BEFORE you start scanning.
If you make the changes to your inputs on your charts FIRST, you will know which ones affect your desired outcomes.

To scan for stocks the level over 2
change this line:
plot sigUp = (source crosses above zsma) and zRising and z>0.5;
Click to expand...
To:
plot sigUp = z > "2";
Click to expand...
 
Last edited:
samer800 said:
wmd7tEU.png

Upper Code created by me based on the lower code.

Author Message:
This is the Z-Score Probability indicator. As many people like my original Z-Score indicator and have expressed more interest in the powers of the Z, I decided to make this indicator which shows additional powers of the Z-Score.

Z-Score is not only useful for measuring a ticker or any other variable’s distance from the mean, it is also useful to calculate general probability in a normal distribution set. Not only can it calculate probability in a dataset, but it can also calculate the variables within said dataset by using the Standard Deviation and the Mean of the dataset.

Using these 2 aspects of the Z-Score, you can, In principle, have an indicator that operates similar to Fibonacci retracement levels with the added bonus of being able to actually ascertain the realistic probability of said retracement.

more details: https://www.tradingview.com/script/zrc6tWT4-Z-Score-Probability-Indicator/

Upper CODE:

CSS: 
# creatred by Sam4Cok@Samer800 based on © Steversteves code
#https://www.tradingview.com/v/zrc6tWT4/
#// © Steversteves
#indicator("Z-Score Probability Indicator")

input source = close;
input showLabel       = yes;        # "Show Z-Table"
input HighlightLevels = yes;
input ShowSignals     = yes;
input LookbackLength     = 75;         # "Lookback Length"
input chartStyle         = {Default "Levels", "Band", "Levels & Band", "Don't Show"};
input showMovAvgLine     = yes;        # "Show SMA"
input movAvgType         = {default SMA, EMA, WMA, HullMA, VWMA, RMA, TEMA};
input movAvgLength       = 14;         # "SMA Length"
input onChartPriceProbaiblity = {"Bubbles", "Lines",Default "Bubbles & Lines", "Don't Show"};
input priceBubbleLocatation = 5;


def na = Double.NaN;
def n = priceBubbleLocatation;
def last = isNaN(close);
def loc = last[n] and !last[n+1];
def lines = chartStyle==chartStyle."Levels" or chartStyle==chartStyle."Levels & Band";
def band  = chartStyle==chartStyle."Band" or chartStyle==chartStyle."Levels & Band";
def propLines = onChartPriceProbaiblity==onChartPriceProbaiblity."Lines" or
                onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
def propBubbles = onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles" or
                  onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
#get_ma(src, ma_type, len) =>
script get_ma {
    input ma_type = "TEMA";
    input src = close;
    input len = 100;
    def hullma = HullMovingAvg(src, len);
    def vwma = Average(src * volume, len) / Average(volume, len);
    def ema1 = ExpAverage(src, len);
    def ema2 = ExpAverage(ema1, len);
    def ema3 = ExpAverage(ema2, len);
    def tema = 3 * (ema1 - ema2) + ema3;
    def ma = if ma_type == "SMA" then Average(src, len) else
        if ma_type == "EMA" then ExpAverage(src, len)   else
            if ma_type == "WMA" then WMA(src, len) else
                if ma_type == "HullMA" then hullma else
                    if ma_type == "VWMA" then vwma else
                        if ma_type == "RMA" then WildersAverage(src, len) else tema;
    plot out = ma;
}
def cl_sma = Average(source, LookbackLength);
def cl_sd = StDev(source, LookbackLength);
def z = (source - cl_sma) / cl_sd;

#// Logical Assessments ///
def "0"  = 0;
def "1"  = 1;
def "2"  = 2;
def "3"  = 3;
def "-1" = -1;
def "-2" = -2;
def "-3" = -3;

def negThree = z < "-3";
def negTwo   = z <= "-2" and z >= "-3";
def negOne   = z <  "0" and z > "-1";
def zero     = z >= "1" and z <= "-1";
def posOne   = z >= "0" and z < "1";
def posTwo   = z >= "2" and z <= "3";
def posThree = z > "3";

#/// Price Level Calculations ///
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
#def loc = ShowPriceProbaiblity and last and !last[1];
def neutral_price = (cl_sma) + ("0" * cl_sd);
def onesd_price = (cl_sma) + ("1" * cl_sd);
def twosd_price = (cl_sma) + ("2" * cl_sd);
def threesd_price = (cl_sma) + ("3" * cl_sd);
def neg_onesd_price = (cl_sma) + ("-1" * cl_sd);
def neg_twosd_price = (cl_sma) + ("-2" * cl_sd);
def neg_threesd_price = (cl_sma) + ("-3" * cl_sd);

def zero1;
def posOne1;
def posTwo1;
def posThree1;
def negOne1;
def negTwo1;
def negThree1;

if bar_index >= LookbackLength {
    negThree1 = neg_threesd_price;
    negTwo1   = neg_twosd_price;
    negOne1   = neg_onesd_price;
    zero1     = neutral_price;
    posOne1   = onesd_price;
    posTwo1   = twosd_price;
    posThree1 = threesd_price;
    } else {
    zero1     = na;
    posOne1   = na;
    posTwo1   = na;
    posThree1 = na;
    negOne1   = na;
    negTwo1   = na;
    negThree1 = na;
}
def zsma = get_ma(movAvgType, zero1, movAvgLength);
def z_sma = if showMovAvgLine then zsma else na;
def falling = zsma <= lowest(zsma, 3);
def rising  = zsma >= highest(zsma,3);

plot avgZscore = z_sma;
avgZscore.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
avgZscore.SetLineWeight(2);

def negThree11 = inertiaAll(highestAll(inertiaAll(negThree1, 2)), LookbackLength+1);
def negTwo11   = inertiaAll(highestAll(inertiaAll(negTwo1, 2)), LookbackLength+1);
def negOne11   = inertiaAll(highestAll(inertiaAll(negOne1, 2)), LookbackLength+1);
def zero11     = inertiaAll(highestAll(inertiaAll(zero1, 2)), LookbackLength+1);
def one11      = inertiaAll(highestAll(inertiaAll(posOne1, 2)), LookbackLength+1);
def two11      = inertiaAll(highestAll(inertiaAll(posTwo1, 2)), LookbackLength+1);
def three11    = inertiaAll(highestAll(inertiaAll(posThree1, 2)), LookbackLength+1);

#-- Lines
plot negThree_22 = if lines then negThree11 else na;
plot negTwo_22   = if lines then negTwo11 else na;
plot negOne_22   = if lines then negOne11 else na;
plot zero_22     = if lines then zero11 else na;
plot posOne_22      = if lines then one11  else na;
plot two_22      = if lines then two11  else na;
plot three_22    = if lines then three11 else na;

negThree_22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo_22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne_22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero_22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
posOne_22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two_22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three_22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--- Band
plot negThree22 = if band then negThree1 else na;
plot negTwo22   = if band then negTwo1 else na;
plot negOne22   = if band then negOne1 else na;
plot zero22     = if band then zero1 else na;
plot one22      = if band then posone1  else na;
plot two22      = if band then postwo1  else na;
plot three22    = if band then posthree1 else na;

negThree22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
one22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--

plot negThree_2 = if negThree then negThree22 else na;
plot negTwo_2   = if negTwo then negTwo22 else na;
plot negOne_2   = if negOne then negOne22 else na;
plot zero_2     = if zero then zero22 else na;
plot posOne_2   = if posOne then one22  else na;
plot posTwo_2   = if posTwo then two22  else na;
plot posThree_2 = if posThree then three22 else na;

negThree_2.SetDefaultColor(Color.RED);
negTwo_2.SetDefaultColor(Color.YELLOW);
negOne_2.SetDefaultColor(Color.GREEN);
zero_2.SetDefaultColor(Color.GREEN);
posone_2.SetDefaultColor(Color.GREEN);
postwo_2.SetDefaultColor(Color.YELLOW);
posthree_2.SetDefaultColor(Color.RED);

negThree_2.SetLineWeight(2);
negTwo_2.SetLineWeight(2);
negOne_2.SetLineWeight(2);
zero_2.SetLineWeight(2);
posone_2.SetLineWeight(2);
postwo_2.SetLineWeight(2);
posthree_2.SetLineWeight(2);

def negThree33 = if last then na else negThree1;
def negTwo33   = if last then na else negTwo1;
def negOne33   = if last then na else negOne1;
def zero33     = if last then na else zero1;
def posOne33   = if last then na else posOne1;
def posTwo33   = if last then na else posTwo1;
def posThree33 = if last then na else posThree1;

def negThree3 = CompoundValue(1, if IsNaN(negThree33) then negThree3[1] else negThree1, negThree1);
def negTwo3   = CompoundValue(1, if IsNaN(negTwo33)   then negTwo3[1]   else negTwo1, negTwo1);
def negOne3   = CompoundValue(1, if IsNaN(negOne33)   then negOne3[1]   else negOne1, negOne1);
def zero3     = CompoundValue(1, if IsNaN(zero33)     then zero3[1]     else zero1, zero1);
def posOne3   = CompoundValue(1, if IsNaN(posOne33)   then posOne3[1]   else posOne1, posOne1);
def posTwo3   = CompoundValue(1, if IsNaN(posTwo33)   then posTwo3[1]   else posTwo1, posTwo1);
def posThree3 = CompoundValue(1, if IsNaN(posThree33) then posThree3[1] else posThree1, posThree1);


plot negThree_3 = if !last or last[n] then na else negThree3;
plot negTwo_3   = if !last or last[n] then na else negTwo3;
plot negOne_3   = if !last or last[n] then na else negOne3;
plot zero_3     = if !last or last[n] then na else zero3;
plot posOne_3   = if !last or last[n] then na else posOne3;
plot posTwo_3   = if !last or last[n] then na else posTwo3;
plot posThree_3 = if !last or last[n] then na else posThree3;

negThree_3.AssignValueColor(if negThree[n] then Color.RED else Color.GRAY);
negTwo_3.AssignValueColor(if negTwo[n] then Color.YELLOW else Color.GRAY);
negOne_3.AssignValueColor(if negOne[n] then Color.GREEN else Color.GRAY);
zero_3.AssignValueColor(if zero[n] then Color.GREEN else Color.GRAY);
posone_3.AssignValueColor(if posone[n] then Color.GREEN else Color.GRAY);
postwo_3.AssignValueColor(if postwo[n] then Color.YELLOW else Color.GRAY);
posthree_3.AssignValueColor(if posthree[n] then Color.RED else Color.GRAY);

negThree_3.SetHiding(!propLines);
negTwo_3.SetHiding(!propLines);
negOne_3.SetHiding(!propLines);
zero_3.SetHiding(!propLines);
posone_3.SetHiding(!propLines);
postwo_3.SetHiding(!propLines);
posthree_3.SetHiding(!propLines);
#-- Label

Addlabel(showLabel, "(0.13%) $" + Round(negThree1,2), if negThree then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + Round(negTwo1,2), if negTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + Round(negOne1,2), if negOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + Round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + Round(posOne1,2), if posOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + Round(posTwo1,2), if posTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + Round(posThree1,2), if posThree then Color.RED else Color.DARK_RED);

# -- Bubbles
AddChartBubble(negThree_3 and negThree_3[n-1] and propBubbles, negThree_3 ,round(negThree1[n],2),
              if negThree[n] then Color.RED else Color.GRAY, yes);
AddChartBubble(negTwo_3   and negTwo_3[n-1]  and propBubbles, negTwo_3   ,round(negTwo1[n],2),
              if negTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(negOne_3   and negOne_3[n-1]  and propBubbles, negOne_3   ,round(negOne1[n],2),
              if negOne[n] then Color.GREEN else color.GRAY, yes);
AddChartBubble(zero_3     and zero_3[n-1]    and propBubbles, zero_3     ,round(zero1[n],2),
              if zero[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posOne_3   and posOne_3[n-1]  and propBubbles, posOne_3   ,round(posOne1[n],2),
              if posOne[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posTwo_3   and posTwo_3[n-1]  and propBubbles, posTwo_3   ,round(posTwo1[n],2),
              if posTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(posThree_3 and posThree_3[n-1] and propBubbles, posThree_3 ,round(posThree1[n],2),
              if posThree[n] then Color.RED else Color.GRAY, yes);

#-- Clouds
#HighlightLevels
AddCloud(if !HighlightLevels then na else three22, two22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two22, one22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else one22, negOne22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne22, negTwo22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo22, negThree22, Color.DARK_RED);

AddCloud(if !HighlightLevels then na else three_22, two_22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two_22, posOne_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else posOne_22, negOne_22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne_22, negTwo_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo_22, negThree_22, Color.DARK_RED);

#-- Signals
def zRising  = z >= highest(average(z, 5), 5);
def zFalling = z <= lowest(average(z, 5), 5);

def sigUp = (source crosses above zsma) and zRising and z>0.5;
def sigDn = (source crosses below zsma) and zFalling and z<-0.5;

AddChartBubble(ShowSignals and sigUp, low, "Buy", Color.GREEN, no);
AddChartBubble(ShowSignals and sigDn, high, "Sell", Color.RED, yes);

#END of CODE

LOWER CODE:

CSS: 
#// © Steversteves
#indicator("Z-Score Probability Indicator")
#t1 = "Determines the Length of Z-Score Assessment. Defaults to a 75 lookback period"
#t2 = "Determines the length of the SMA if the user selects Show SMA. Default is 75, but for a more responsive SMA you can reduce it to 14. Optional."
#Converted by sam4Cok@Samer800    - 06/2023

declare lower;
input priceBubbleLocatation = 5;
input LookbackLength  = 75;         # "Lookback Length" tip: t1
input smaLength       = 14;         # "SMA Length"      tip: t2
input ShowPriceBubble = yes;        # "Distribution Probaiblity Price"
input showLabel       = yes;        # "Show Z-Table"
input showSmaLine     = yes;        # "Show SMA"

def na = Double.NaN;
def last = isNaN(close);
def n = priceBubbleLocatation;
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
def loc = ShowPriceBubble and last[n] and !last[n+1];


def cl_sma = Average(close, LookbackLength);
def cl_sd = StDev(close, LookbackLength);
def z = (close - cl_sma) / cl_sd;
def zsma = Average(z, smaLength);
def z_sma = if showSmaLine then zsma else na;

#// Logical Assessments ///

def zero_one = z >= 0 and z < 1;
def two_three = z >= 2 and z < 3.01;
def three = z >= 3;
def zero = z >= 0.99 and z <= -0.99;
def neg_zero_one = z < 0 and z > -1;
def neg_two_three = z <= -2 and z > -3;
def neg_three = z <= -3;
#def falling = z_sma < lowest(z_sma, 3);
def rising = z_sma >= highest(z_sma, smaLength);

#/// Plots ///
plot sma_Z = z_sma;    # "Z-SMA"
plot Z_Score = z;      # "Z-Score"
Z_Score.AssignValueColor(if z>0 then Color.GREEN else Color.RED);
sma_Z.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
sma_Z.SetLineWeight(2);

def neutral = 0;
def onesd = 1;
def twosd = 2;
def threesd = 3;
def neg_onesd = -1;
def neg_twosd = -2;
def neg_threesd = -3;

AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);

AddCloud(if last then na else threesd, twosd        , Color.DARK_RED);
AddCloud(if last then na else twosd, onesd          , CreateColor(157,157,0));
AddCloud(if last then na else onesd, neg_onesd      , Color.DARK_GREEN);
AddCloud(if last then na else neg_onesd, neg_twosd  , CreateColor(157,157,0));
AddCloud(if last then na else neg_twosd, neg_threesd, Color.DARK_RED);

#/// Price Level Calculations ///
def neutral_price = (cl_sma) + (0 * cl_sd);
def onesd_price = (cl_sma) + (1 * cl_sd);
def twosd_price = (cl_sma) + (2 * cl_sd);
def threesd_price = (cl_sma) + (3 * cl_sd);
def neg_onesd_price = (cl_sma) + (-1 * cl_sd);
def neg_twosd_price = (cl_sma) + (-2 * cl_sd);
def neg_threesd_price = (cl_sma) + (-3 * cl_sd);

def zero1;
def one;
def two;
def three1;
def negOne;
def negTwo;
def negThree;

if bar_index >= 75 {
    zero1 = neutral_price;
    one = onesd_price;
    two = twosd_price;
    three1 = threesd_price;
    negOne = neg_onesd_price;
    negTwo = neg_twosd_price;
    negThree = neg_threesd_price;
    } else {
    zero1 = na;
    one = na;
    two = na;
    three1 = na;
    negOne = na;
    negTwo = na;
    negThree = na;
}

AddChartBubble(loc, neutral  , round(zero1[n+1],2), if zero[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, onesd    , round(one[n+1],2), if zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, twosd    , round(two[n+1],2), if two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, threesd  , round(three1[n+1],2), if three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_onesd, round(negOne[n+1],2), if neg_zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_twosd, round(negTwo[n+1],2), if neg_two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_threesd, round(negThree[n+1],2), if neg_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);

#-- Label

Addlabel(showLabel, "(0.13%) $" + round(negThree,2), if neg_three then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + round(negTwo,2), if neg_two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + round(negOne,2), if neg_zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + round(one,2), if zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + round(two,2), if two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + round(three1,2), if three then Color.RED else Color.DARK_RED);


#END of CODE
Click to expand...
Is there any way to make a watchlist where it shows which color the zscore line is in the upper indicator? For example, on my chart using the provided code the zscore line in the upper chart is purplish or cyan (light blue I think) in color? This would be a great thing to have if you have a basket of stocks you normally trade and want to look for the change in the color.
 
FreefallJM03 said:
Is there any way to make a watchlist where it shows which color the zscore line is in the upper indicator? For example, on my chart using the provided code the zscore line in the upper chart is purplish or cyan (light blue I think) in color? This would be a great thing to have if you have a basket of stocks you normally trade and want to look for the change in the color.
Click to expand...

Z-score Probability Watchlist (colored with upper chart plot)
shared watchlist column: http://tos.mx/QQwPeSW Click here for --> Easiest way to load shared links
Lnrtchc.png

Ruby: 
#indicator("Z-Score Probability Indicator")
# WATCHLIST ONLY

input source = close;
input showLabel       = yes;        # "Show Z-Table"
input HighlightLevels = yes;
input ShowSignals     = yes;
input LookbackLength     = 75;         # "Lookback Length"
input chartStyle         = {Default "Levels", "Band", "Levels & Band", "Don't Show"};
input showMovAvgLine     = yes;        # "Show SMA"
input movAvgType         = {default SMA, EMA, WMA, HullMA, VWMA, RMA, TEMA};
input movAvgLength       = 14;         # "SMA Length"
input onChartPriceProbaiblity = {"Bubbles", "Lines",Default "Bubbles & Lines", "Don't Show"};
input priceBubbleLocatation = 5;


def na = Double.NaN;
def n = priceBubbleLocatation;
def last = isNaN(close);
def loc = last[n] and !last[n+1];
def lines = chartStyle==chartStyle."Levels" or chartStyle==chartStyle."Levels & Band";
def band  = chartStyle==chartStyle."Band" or chartStyle==chartStyle."Levels & Band";
def propLines = onChartPriceProbaiblity==onChartPriceProbaiblity."Lines" or
                onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
def propBubbles = onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles" or
                  onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
#get_ma(src, ma_type, len) =>
script get_ma {
    input ma_type = "TEMA";
    input src = close;
    input len = 100;
    def hullma = HullMovingAvg(src, len);
    def vwma = Average(src * volume, len) / Average(volume, len);
    def ema1 = ExpAverage(src, len);
    def ema2 = ExpAverage(ema1, len);
    def ema3 = ExpAverage(ema2, len);
    def tema = 3 * (ema1 - ema2) + ema3;
    def ma = if ma_type == "SMA" then Average(src, len) else
        if ma_type == "EMA" then ExpAverage(src, len)   else
            if ma_type == "WMA" then WMA(src, len) else
                if ma_type == "HullMA" then hullma else
                    if ma_type == "VWMA" then vwma else
                        if ma_type == "RMA" then WildersAverage(src, len) else tema;
    plot out = ma;
}
def cl_sma = Average(source, LookbackLength);
def cl_sd = StDev(source, LookbackLength);
def z = (source - cl_sma) / cl_sd;

#// Logical Assessments ///
def "0"  = 0;
def "1"  = 1;
def "2"  = 2;
def "3"  = 3;
def "-1" = -1;
def "-2" = -2;
def "-3" = -3;

def negThree = z < "-3";
def negTwo   = z <= "-2" and z >= "-3";
def negOne   = z <  "0" and z > "-1";
def zero     = z >= "1" and z <= "-1";
def posOne   = z >= "0" and z < "1";
def posTwo   = z >= "2" and z <= "3";
def posThree = z > "3";

#/// Price Level Calculations ///
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
#def loc = ShowPriceProbaiblity and last and !last[1];
def neutral_price = (cl_sma) + ("0" * cl_sd);
def onesd_price = (cl_sma) + ("1" * cl_sd);
def twosd_price = (cl_sma) + ("2" * cl_sd);
def threesd_price = (cl_sma) + ("3" * cl_sd);
def neg_onesd_price = (cl_sma) + ("-1" * cl_sd);
def neg_twosd_price = (cl_sma) + ("-2" * cl_sd);
def neg_threesd_price = (cl_sma) + ("-3" * cl_sd);

def zero1;
def posOne1;
def posTwo1;
def posThree1;
def negOne1;
def negTwo1;
def negThree1;

if bar_index >= LookbackLength {
    negThree1 = neg_threesd_price;
    negTwo1   = neg_twosd_price;
    negOne1   = neg_onesd_price;
    zero1     = neutral_price;
    posOne1   = onesd_price;
    posTwo1   = twosd_price;
    posThree1 = threesd_price;
    } else {
    zero1     = na;
    posOne1   = na;
    posTwo1   = na;
    posThree1 = na;
    negOne1   = na;
    negTwo1   = na;
    negThree1 = na;
}
def zsma = get_ma(movAvgType, zero1, movAvgLength);
def z_sma = if showMovAvgLine then zsma else na;
def falling = zsma <= lowest(zsma, 3);
def rising  = zsma >= highest(zsma,3);

AddLabel(yes, " ");
AssignBackgroundColor(if rising then Color.CYAN else Color.MAGENTA);
 
samer800 said:
wmd7tEU.png

Upper Code created by me based on the lower code.

Author Message:
This is the Z-Score Probability indicator. As many people like my original Z-Score indicator and have expressed more interest in the powers of the Z, I decided to make this indicator which shows additional powers of the Z-Score.

Z-Score is not only useful for measuring a ticker or any other variable’s distance from the mean, it is also useful to calculate general probability in a normal distribution set. Not only can it calculate probability in a dataset, but it can also calculate the variables within said dataset by using the Standard Deviation and the Mean of the dataset.

Using these 2 aspects of the Z-Score, you can, In principle, have an indicator that operates similar to Fibonacci retracement levels with the added bonus of being able to actually ascertain the realistic probability of said retracement.

more details: https://www.tradingview.com/script/zrc6tWT4-Z-Score-Probability-Indicator/

Upper CODE:

CSS: 
# creatred by Sam4Cok@Samer800 based on © Steversteves code
#https://www.tradingview.com/v/zrc6tWT4/
#// © Steversteves
#indicator("Z-Score Probability Indicator")

input source = close;
input showLabel       = yes;        # "Show Z-Table"
input HighlightLevels = yes;
input ShowSignals     = yes;
input LookbackLength     = 75;         # "Lookback Length"
input chartStyle         = {Default "Levels", "Band", "Levels & Band", "Don't Show"};
input showMovAvgLine     = yes;        # "Show SMA"
input movAvgType         = {default SMA, EMA, WMA, HullMA, VWMA, RMA, TEMA};
input movAvgLength       = 14;         # "SMA Length"
input onChartPriceProbaiblity = {"Bubbles", "Lines",Default "Bubbles & Lines", "Don't Show"};
input priceBubbleLocatation = 5;


def na = Double.NaN;
def n = priceBubbleLocatation;
def last = isNaN(close);
def loc = last[n] and !last[n+1];
def lines = chartStyle==chartStyle."Levels" or chartStyle==chartStyle."Levels & Band";
def band  = chartStyle==chartStyle."Band" or chartStyle==chartStyle."Levels & Band";
def propLines = onChartPriceProbaiblity==onChartPriceProbaiblity."Lines" or
                onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
def propBubbles = onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles" or
                  onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
#get_ma(src, ma_type, len) =>
script get_ma {
    input ma_type = "TEMA";
    input src = close;
    input len = 100;
    def hullma = HullMovingAvg(src, len);
    def vwma = Average(src * volume, len) / Average(volume, len);
    def ema1 = ExpAverage(src, len);
    def ema2 = ExpAverage(ema1, len);
    def ema3 = ExpAverage(ema2, len);
    def tema = 3 * (ema1 - ema2) + ema3;
    def ma = if ma_type == "SMA" then Average(src, len) else
        if ma_type == "EMA" then ExpAverage(src, len)   else
            if ma_type == "WMA" then WMA(src, len) else
                if ma_type == "HullMA" then hullma else
                    if ma_type == "VWMA" then vwma else
                        if ma_type == "RMA" then WildersAverage(src, len) else tema;
    plot out = ma;
}
def cl_sma = Average(source, LookbackLength);
def cl_sd = StDev(source, LookbackLength);
def z = (source - cl_sma) / cl_sd;

#// Logical Assessments ///
def "0"  = 0;
def "1"  = 1;
def "2"  = 2;
def "3"  = 3;
def "-1" = -1;
def "-2" = -2;
def "-3" = -3;

def negThree = z < "-3";
def negTwo   = z <= "-2" and z >= "-3";
def negOne   = z <  "0" and z > "-1";
def zero     = z >= "1" and z <= "-1";
def posOne   = z >= "0" and z < "1";
def posTwo   = z >= "2" and z <= "3";
def posThree = z > "3";

#/// Price Level Calculations ///
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
#def loc = ShowPriceProbaiblity and last and !last[1];
def neutral_price = (cl_sma) + ("0" * cl_sd);
def onesd_price = (cl_sma) + ("1" * cl_sd);
def twosd_price = (cl_sma) + ("2" * cl_sd);
def threesd_price = (cl_sma) + ("3" * cl_sd);
def neg_onesd_price = (cl_sma) + ("-1" * cl_sd);
def neg_twosd_price = (cl_sma) + ("-2" * cl_sd);
def neg_threesd_price = (cl_sma) + ("-3" * cl_sd);

def zero1;
def posOne1;
def posTwo1;
def posThree1;
def negOne1;
def negTwo1;
def negThree1;

if bar_index >= LookbackLength {
    negThree1 = neg_threesd_price;
    negTwo1   = neg_twosd_price;
    negOne1   = neg_onesd_price;
    zero1     = neutral_price;
    posOne1   = onesd_price;
    posTwo1   = twosd_price;
    posThree1 = threesd_price;
    } else {
    zero1     = na;
    posOne1   = na;
    posTwo1   = na;
    posThree1 = na;
    negOne1   = na;
    negTwo1   = na;
    negThree1 = na;
}
def zsma = get_ma(movAvgType, zero1, movAvgLength);
def z_sma = if showMovAvgLine then zsma else na;
def falling = zsma <= lowest(zsma, 3);
def rising  = zsma >= highest(zsma,3);

plot avgZscore = z_sma;
avgZscore.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
avgZscore.SetLineWeight(2);

def negThree11 = inertiaAll(highestAll(inertiaAll(negThree1, 2)), LookbackLength+1);
def negTwo11   = inertiaAll(highestAll(inertiaAll(negTwo1, 2)), LookbackLength+1);
def negOne11   = inertiaAll(highestAll(inertiaAll(negOne1, 2)), LookbackLength+1);
def zero11     = inertiaAll(highestAll(inertiaAll(zero1, 2)), LookbackLength+1);
def one11      = inertiaAll(highestAll(inertiaAll(posOne1, 2)), LookbackLength+1);
def two11      = inertiaAll(highestAll(inertiaAll(posTwo1, 2)), LookbackLength+1);
def three11    = inertiaAll(highestAll(inertiaAll(posThree1, 2)), LookbackLength+1);

#-- Lines
plot negThree_22 = if lines then negThree11 else na;
plot negTwo_22   = if lines then negTwo11 else na;
plot negOne_22   = if lines then negOne11 else na;
plot zero_22     = if lines then zero11 else na;
plot posOne_22      = if lines then one11  else na;
plot two_22      = if lines then two11  else na;
plot three_22    = if lines then three11 else na;

negThree_22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo_22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne_22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero_22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
posOne_22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two_22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three_22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--- Band
plot negThree22 = if band then negThree1 else na;
plot negTwo22   = if band then negTwo1 else na;
plot negOne22   = if band then negOne1 else na;
plot zero22     = if band then zero1 else na;
plot one22      = if band then posone1  else na;
plot two22      = if band then postwo1  else na;
plot three22    = if band then posthree1 else na;

negThree22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
one22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--

plot negThree_2 = if negThree then negThree22 else na;
plot negTwo_2   = if negTwo then negTwo22 else na;
plot negOne_2   = if negOne then negOne22 else na;
plot zero_2     = if zero then zero22 else na;
plot posOne_2   = if posOne then one22  else na;
plot posTwo_2   = if posTwo then two22  else na;
plot posThree_2 = if posThree then three22 else na;

negThree_2.SetDefaultColor(Color.RED);
negTwo_2.SetDefaultColor(Color.YELLOW);
negOne_2.SetDefaultColor(Color.GREEN);
zero_2.SetDefaultColor(Color.GREEN);
posone_2.SetDefaultColor(Color.GREEN);
postwo_2.SetDefaultColor(Color.YELLOW);
posthree_2.SetDefaultColor(Color.RED);

negThree_2.SetLineWeight(2);
negTwo_2.SetLineWeight(2);
negOne_2.SetLineWeight(2);
zero_2.SetLineWeight(2);
posone_2.SetLineWeight(2);
postwo_2.SetLineWeight(2);
posthree_2.SetLineWeight(2);

def negThree33 = if last then na else negThree1;
def negTwo33   = if last then na else negTwo1;
def negOne33   = if last then na else negOne1;
def zero33     = if last then na else zero1;
def posOne33   = if last then na else posOne1;
def posTwo33   = if last then na else posTwo1;
def posThree33 = if last then na else posThree1;

def negThree3 = CompoundValue(1, if IsNaN(negThree33) then negThree3[1] else negThree1, negThree1);
def negTwo3   = CompoundValue(1, if IsNaN(negTwo33)   then negTwo3[1]   else negTwo1, negTwo1);
def negOne3   = CompoundValue(1, if IsNaN(negOne33)   then negOne3[1]   else negOne1, negOne1);
def zero3     = CompoundValue(1, if IsNaN(zero33)     then zero3[1]     else zero1, zero1);
def posOne3   = CompoundValue(1, if IsNaN(posOne33)   then posOne3[1]   else posOne1, posOne1);
def posTwo3   = CompoundValue(1, if IsNaN(posTwo33)   then posTwo3[1]   else posTwo1, posTwo1);
def posThree3 = CompoundValue(1, if IsNaN(posThree33) then posThree3[1] else posThree1, posThree1);


plot negThree_3 = if !last or last[n] then na else negThree3;
plot negTwo_3   = if !last or last[n] then na else negTwo3;
plot negOne_3   = if !last or last[n] then na else negOne3;
plot zero_3     = if !last or last[n] then na else zero3;
plot posOne_3   = if !last or last[n] then na else posOne3;
plot posTwo_3   = if !last or last[n] then na else posTwo3;
plot posThree_3 = if !last or last[n] then na else posThree3;

negThree_3.AssignValueColor(if negThree[n] then Color.RED else Color.GRAY);
negTwo_3.AssignValueColor(if negTwo[n] then Color.YELLOW else Color.GRAY);
negOne_3.AssignValueColor(if negOne[n] then Color.GREEN else Color.GRAY);
zero_3.AssignValueColor(if zero[n] then Color.GREEN else Color.GRAY);
posone_3.AssignValueColor(if posone[n] then Color.GREEN else Color.GRAY);
postwo_3.AssignValueColor(if postwo[n] then Color.YELLOW else Color.GRAY);
posthree_3.AssignValueColor(if posthree[n] then Color.RED else Color.GRAY);

negThree_3.SetHiding(!propLines);
negTwo_3.SetHiding(!propLines);
negOne_3.SetHiding(!propLines);
zero_3.SetHiding(!propLines);
posone_3.SetHiding(!propLines);
postwo_3.SetHiding(!propLines);
posthree_3.SetHiding(!propLines);
#-- Label

Addlabel(showLabel, "(0.13%) $" + Round(negThree1,2), if negThree then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + Round(negTwo1,2), if negTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + Round(negOne1,2), if negOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + Round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + Round(posOne1,2), if posOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + Round(posTwo1,2), if posTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + Round(posThree1,2), if posThree then Color.RED else Color.DARK_RED);

# -- Bubbles
AddChartBubble(negThree_3 and negThree_3[n-1] and propBubbles, negThree_3 ,round(negThree1[n],2),
              if negThree[n] then Color.RED else Color.GRAY, yes);
AddChartBubble(negTwo_3   and negTwo_3[n-1]  and propBubbles, negTwo_3   ,round(negTwo1[n],2),
              if negTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(negOne_3   and negOne_3[n-1]  and propBubbles, negOne_3   ,round(negOne1[n],2),
              if negOne[n] then Color.GREEN else color.GRAY, yes);
AddChartBubble(zero_3     and zero_3[n-1]    and propBubbles, zero_3     ,round(zero1[n],2),
              if zero[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posOne_3   and posOne_3[n-1]  and propBubbles, posOne_3   ,round(posOne1[n],2),
              if posOne[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posTwo_3   and posTwo_3[n-1]  and propBubbles, posTwo_3   ,round(posTwo1[n],2),
              if posTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(posThree_3 and posThree_3[n-1] and propBubbles, posThree_3 ,round(posThree1[n],2),
              if posThree[n] then Color.RED else Color.GRAY, yes);

#-- Clouds
#HighlightLevels
AddCloud(if !HighlightLevels then na else three22, two22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two22, one22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else one22, negOne22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne22, negTwo22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo22, negThree22, Color.DARK_RED);

AddCloud(if !HighlightLevels then na else three_22, two_22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two_22, posOne_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else posOne_22, negOne_22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne_22, negTwo_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo_22, negThree_22, Color.DARK_RED);

#-- Signals
def zRising  = z >= highest(average(z, 5), 5);
def zFalling = z <= lowest(average(z, 5), 5);

def sigUp = (source crosses above zsma) and zRising and z>0.5;
def sigDn = (source crosses below zsma) and zFalling and z<-0.5;

AddChartBubble(ShowSignals and sigUp, low, "Buy", Color.GREEN, no);
AddChartBubble(ShowSignals and sigDn, high, "Sell", Color.RED, yes);

#END of CODE

LOWER CODE:

CSS: 
#// © Steversteves
#indicator("Z-Score Probability Indicator")
#t1 = "Determines the Length of Z-Score Assessment. Defaults to a 75 lookback period"
#t2 = "Determines the length of the SMA if the user selects Show SMA. Default is 75, but for a more responsive SMA you can reduce it to 14. Optional."
#Converted by sam4Cok@Samer800    - 06/2023

declare lower;
input priceBubbleLocatation = 5;
input LookbackLength  = 75;         # "Lookback Length" tip: t1
input smaLength       = 14;         # "SMA Length"      tip: t2
input ShowPriceBubble = yes;        # "Distribution Probaiblity Price"
input showLabel       = yes;        # "Show Z-Table"
input showSmaLine     = yes;        # "Show SMA"

def na = Double.NaN;
def last = isNaN(close);
def n = priceBubbleLocatation;
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
def loc = ShowPriceBubble and last[n] and !last[n+1];


def cl_sma = Average(close, LookbackLength);
def cl_sd = StDev(close, LookbackLength);
def z = (close - cl_sma) / cl_sd;
def zsma = Average(z, smaLength);
def z_sma = if showSmaLine then zsma else na;

#// Logical Assessments ///

def zero_one = z >= 0 and z < 1;
def two_three = z >= 2 and z < 3.01;
def three = z >= 3;
def zero = z >= 0.99 and z <= -0.99;
def neg_zero_one = z < 0 and z > -1;
def neg_two_three = z <= -2 and z > -3;
def neg_three = z <= -3;
#def falling = z_sma < lowest(z_sma, 3);
def rising = z_sma >= highest(z_sma, smaLength);

#/// Plots ///
plot sma_Z = z_sma;    # "Z-SMA"
plot Z_Score = z;      # "Z-Score"
Z_Score.AssignValueColor(if z>0 then Color.GREEN else Color.RED);
sma_Z.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
sma_Z.SetLineWeight(2);

def neutral = 0;
def onesd = 1;
def twosd = 2;
def threesd = 3;
def neg_onesd = -1;
def neg_twosd = -2;
def neg_threesd = -3;

AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);

AddCloud(if last then na else threesd, twosd        , Color.DARK_RED);
AddCloud(if last then na else twosd, onesd          , CreateColor(157,157,0));
AddCloud(if last then na else onesd, neg_onesd      , Color.DARK_GREEN);
AddCloud(if last then na else neg_onesd, neg_twosd  , CreateColor(157,157,0));
AddCloud(if last then na else neg_twosd, neg_threesd, Color.DARK_RED);

#/// Price Level Calculations ///
def neutral_price = (cl_sma) + (0 * cl_sd);
def onesd_price = (cl_sma) + (1 * cl_sd);
def twosd_price = (cl_sma) + (2 * cl_sd);
def threesd_price = (cl_sma) + (3 * cl_sd);
def neg_onesd_price = (cl_sma) + (-1 * cl_sd);
def neg_twosd_price = (cl_sma) + (-2 * cl_sd);
def neg_threesd_price = (cl_sma) + (-3 * cl_sd);

def zero1;
def one;
def two;
def three1;
def negOne;
def negTwo;
def negThree;

if bar_index >= 75 {
    zero1 = neutral_price;
    one = onesd_price;
    two = twosd_price;
    three1 = threesd_price;
    negOne = neg_onesd_price;
    negTwo = neg_twosd_price;
    negThree = neg_threesd_price;
    } else {
    zero1 = na;
    one = na;
    two = na;
    three1 = na;
    negOne = na;
    negTwo = na;
    negThree = na;
}

AddChartBubble(loc, neutral  , round(zero1[n+1],2), if zero[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, onesd    , round(one[n+1],2), if zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, twosd    , round(two[n+1],2), if two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, threesd  , round(three1[n+1],2), if three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_onesd, round(negOne[n+1],2), if neg_zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_twosd, round(negTwo[n+1],2), if neg_two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_threesd, round(negThree[n+1],2), if neg_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);

#-- Label

Addlabel(showLabel, "(0.13%) $" + round(negThree,2), if neg_three then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + round(negTwo,2), if neg_two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + round(negOne,2), if neg_zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + round(one,2), if zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + round(two,2), if two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + round(three1,2), if three then Color.RED else Color.DARK_RED);


#END of CODE
Click to expand...
I really like that we are calling Z-score what it actually is in the statistical sense and not "super mega this and that wham bam" .... That feels much better to me
 
bigworm said:
Being that the underlying is not normally distributed (they very rarely exist with financial time series univariate data) the z score doesn’t really tell you much. Furthermore the underlying is non stationary so this study isn’t really accurate.
Click to expand...
Of course the underlying is not normally distributed univariate from time... Thank goodness for that or it would be a literal coin toss game at a casino....
@Sammy800
As far as the crossover at zero being inaccurate, that is because the market's volume will naturally hold long term trends and so you cannot 'martingale' and hold losing trades hoping the market will return to the price of the last crossover

Sammy when ToS goes back online I will give you a Volume study you could anchor your Z-score to and then the % accuracy will not be an issue; as you will then be able to scale the Z-score to and your fibb targets to the volume the market is already pricing in.

If I am absent for awhile please browse over some of @Welkin writings.
 
samer800 said:
wmd7tEU.png

Upper Code created by me based on the lower code.

Author Message:
This is the Z-Score Probability indicator. As many people like my original Z-Score indicator and have expressed more interest in the powers of the Z, I decided to make this indicator which shows additional powers of the Z-Score.

Z-Score is not only useful for measuring a ticker or any other variable’s distance from the mean, it is also useful to calculate general probability in a normal distribution set. Not only can it calculate probability in a dataset, but it can also calculate the variables within said dataset by using the Standard Deviation and the Mean of the dataset.

Using these 2 aspects of the Z-Score, you can, In principle, have an indicator that operates similar to Fibonacci retracement levels with the added bonus of being able to actually ascertain the realistic probability of said retracement.

more details: https://www.tradingview.com/script/zrc6tWT4-Z-Score-Probability-Indicator/

Upper CODE:

CSS: 
# creatred by Sam4Cok@Samer800 based on © Steversteves code
#https://www.tradingview.com/v/zrc6tWT4/
#// © Steversteves
#indicator("Z-Score Probability Indicator")

input source = close;
input showLabel       = yes;        # "Show Z-Table"
input HighlightLevels = yes;
input ShowSignals     = yes;
input LookbackLength     = 75;         # "Lookback Length"
input chartStyle         = {Default "Levels", "Band", "Levels & Band", "Don't Show"};
input showMovAvgLine     = yes;        # "Show SMA"
input movAvgType         = {default SMA, EMA, WMA, HullMA, VWMA, RMA, TEMA};
input movAvgLength       = 14;         # "SMA Length"
input onChartPriceProbaiblity = {"Bubbles", "Lines",Default "Bubbles & Lines", "Don't Show"};
input priceBubbleLocatation = 5;


def na = Double.NaN;
def n = priceBubbleLocatation;
def last = isNaN(close);
def loc = last[n] and !last[n+1];
def lines = chartStyle==chartStyle."Levels" or chartStyle==chartStyle."Levels & Band";
def band  = chartStyle==chartStyle."Band" or chartStyle==chartStyle."Levels & Band";
def propLines = onChartPriceProbaiblity==onChartPriceProbaiblity."Lines" or
                onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
def propBubbles = onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles" or
                  onChartPriceProbaiblity==onChartPriceProbaiblity."Bubbles & Lines";
#get_ma(src, ma_type, len) =>
script get_ma {
    input ma_type = "TEMA";
    input src = close;
    input len = 100;
    def hullma = HullMovingAvg(src, len);
    def vwma = Average(src * volume, len) / Average(volume, len);
    def ema1 = ExpAverage(src, len);
    def ema2 = ExpAverage(ema1, len);
    def ema3 = ExpAverage(ema2, len);
    def tema = 3 * (ema1 - ema2) + ema3;
    def ma = if ma_type == "SMA" then Average(src, len) else
        if ma_type == "EMA" then ExpAverage(src, len)   else
            if ma_type == "WMA" then WMA(src, len) else
                if ma_type == "HullMA" then hullma else
                    if ma_type == "VWMA" then vwma else
                        if ma_type == "RMA" then WildersAverage(src, len) else tema;
    plot out = ma;
}
def cl_sma = Average(source, LookbackLength);
def cl_sd = StDev(source, LookbackLength);
def z = (source - cl_sma) / cl_sd;

#// Logical Assessments ///
def "0"  = 0;
def "1"  = 1;
def "2"  = 2;
def "3"  = 3;
def "-1" = -1;
def "-2" = -2;
def "-3" = -3;

def negThree = z < "-3";
def negTwo   = z <= "-2" and z >= "-3";
def negOne   = z <  "0" and z > "-1";
def zero     = z >= "1" and z <= "-1";
def posOne   = z >= "0" and z < "1";
def posTwo   = z >= "2" and z <= "3";
def posThree = z > "3";

#/// Price Level Calculations ///
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
#def loc = ShowPriceProbaiblity and last and !last[1];
def neutral_price = (cl_sma) + ("0" * cl_sd);
def onesd_price = (cl_sma) + ("1" * cl_sd);
def twosd_price = (cl_sma) + ("2" * cl_sd);
def threesd_price = (cl_sma) + ("3" * cl_sd);
def neg_onesd_price = (cl_sma) + ("-1" * cl_sd);
def neg_twosd_price = (cl_sma) + ("-2" * cl_sd);
def neg_threesd_price = (cl_sma) + ("-3" * cl_sd);

def zero1;
def posOne1;
def posTwo1;
def posThree1;
def negOne1;
def negTwo1;
def negThree1;

if bar_index >= LookbackLength {
    negThree1 = neg_threesd_price;
    negTwo1   = neg_twosd_price;
    negOne1   = neg_onesd_price;
    zero1     = neutral_price;
    posOne1   = onesd_price;
    posTwo1   = twosd_price;
    posThree1 = threesd_price;
    } else {
    zero1     = na;
    posOne1   = na;
    posTwo1   = na;
    posThree1 = na;
    negOne1   = na;
    negTwo1   = na;
    negThree1 = na;
}
def zsma = get_ma(movAvgType, zero1, movAvgLength);
def z_sma = if showMovAvgLine then zsma else na;
def falling = zsma <= lowest(zsma, 3);
def rising  = zsma >= highest(zsma,3);

plot avgZscore = z_sma;
avgZscore.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
avgZscore.SetLineWeight(2);

def negThree11 = inertiaAll(highestAll(inertiaAll(negThree1, 2)), LookbackLength+1);
def negTwo11   = inertiaAll(highestAll(inertiaAll(negTwo1, 2)), LookbackLength+1);
def negOne11   = inertiaAll(highestAll(inertiaAll(negOne1, 2)), LookbackLength+1);
def zero11     = inertiaAll(highestAll(inertiaAll(zero1, 2)), LookbackLength+1);
def one11      = inertiaAll(highestAll(inertiaAll(posOne1, 2)), LookbackLength+1);
def two11      = inertiaAll(highestAll(inertiaAll(posTwo1, 2)), LookbackLength+1);
def three11    = inertiaAll(highestAll(inertiaAll(posThree1, 2)), LookbackLength+1);

#-- Lines
plot negThree_22 = if lines then negThree11 else na;
plot negTwo_22   = if lines then negTwo11 else na;
plot negOne_22   = if lines then negOne11 else na;
plot zero_22     = if lines then zero11 else na;
plot posOne_22      = if lines then one11  else na;
plot two_22      = if lines then two11  else na;
plot three_22    = if lines then three11 else na;

negThree_22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo_22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne_22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero_22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
posOne_22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two_22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three_22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--- Band
plot negThree22 = if band then negThree1 else na;
plot negTwo22   = if band then negTwo1 else na;
plot negOne22   = if band then negOne1 else na;
plot zero22     = if band then zero1 else na;
plot one22      = if band then posone1  else na;
plot two22      = if band then postwo1  else na;
plot three22    = if band then posthree1 else na;

negThree22.AssignValueColor(if negThree then Color.RED else Color.DARK_RED);
negTwo22.AssignValueColor(if negTwo then Color.YELLOW else CreateColor(78,78,0));
negOne22.AssignValueColor(if negOne then Color.GREEN else Color.DARK_GREEN);
zero22.AssignValueColor(if zero then Color.GREEN else Color.DARK_GREEN);
one22.AssignValueColor(if posOne then Color.GREEN else Color.DARK_GREEN);
two22.AssignValueColor(if posTwo then Color.YELLOW else CreateColor(78,78,0));
three22.AssignValueColor(if posThree then Color.RED else Color.DARK_RED);
#--

plot negThree_2 = if negThree then negThree22 else na;
plot negTwo_2   = if negTwo then negTwo22 else na;
plot negOne_2   = if negOne then negOne22 else na;
plot zero_2     = if zero then zero22 else na;
plot posOne_2   = if posOne then one22  else na;
plot posTwo_2   = if posTwo then two22  else na;
plot posThree_2 = if posThree then three22 else na;

negThree_2.SetDefaultColor(Color.RED);
negTwo_2.SetDefaultColor(Color.YELLOW);
negOne_2.SetDefaultColor(Color.GREEN);
zero_2.SetDefaultColor(Color.GREEN);
posone_2.SetDefaultColor(Color.GREEN);
postwo_2.SetDefaultColor(Color.YELLOW);
posthree_2.SetDefaultColor(Color.RED);

negThree_2.SetLineWeight(2);
negTwo_2.SetLineWeight(2);
negOne_2.SetLineWeight(2);
zero_2.SetLineWeight(2);
posone_2.SetLineWeight(2);
postwo_2.SetLineWeight(2);
posthree_2.SetLineWeight(2);

def negThree33 = if last then na else negThree1;
def negTwo33   = if last then na else negTwo1;
def negOne33   = if last then na else negOne1;
def zero33     = if last then na else zero1;
def posOne33   = if last then na else posOne1;
def posTwo33   = if last then na else posTwo1;
def posThree33 = if last then na else posThree1;

def negThree3 = CompoundValue(1, if IsNaN(negThree33) then negThree3[1] else negThree1, negThree1);
def negTwo3   = CompoundValue(1, if IsNaN(negTwo33)   then negTwo3[1]   else negTwo1, negTwo1);
def negOne3   = CompoundValue(1, if IsNaN(negOne33)   then negOne3[1]   else negOne1, negOne1);
def zero3     = CompoundValue(1, if IsNaN(zero33)     then zero3[1]     else zero1, zero1);
def posOne3   = CompoundValue(1, if IsNaN(posOne33)   then posOne3[1]   else posOne1, posOne1);
def posTwo3   = CompoundValue(1, if IsNaN(posTwo33)   then posTwo3[1]   else posTwo1, posTwo1);
def posThree3 = CompoundValue(1, if IsNaN(posThree33) then posThree3[1] else posThree1, posThree1);


plot negThree_3 = if !last or last[n] then na else negThree3;
plot negTwo_3   = if !last or last[n] then na else negTwo3;
plot negOne_3   = if !last or last[n] then na else negOne3;
plot zero_3     = if !last or last[n] then na else zero3;
plot posOne_3   = if !last or last[n] then na else posOne3;
plot posTwo_3   = if !last or last[n] then na else posTwo3;
plot posThree_3 = if !last or last[n] then na else posThree3;

negThree_3.AssignValueColor(if negThree[n] then Color.RED else Color.GRAY);
negTwo_3.AssignValueColor(if negTwo[n] then Color.YELLOW else Color.GRAY);
negOne_3.AssignValueColor(if negOne[n] then Color.GREEN else Color.GRAY);
zero_3.AssignValueColor(if zero[n] then Color.GREEN else Color.GRAY);
posone_3.AssignValueColor(if posone[n] then Color.GREEN else Color.GRAY);
postwo_3.AssignValueColor(if postwo[n] then Color.YELLOW else Color.GRAY);
posthree_3.AssignValueColor(if posthree[n] then Color.RED else Color.GRAY);

negThree_3.SetHiding(!propLines);
negTwo_3.SetHiding(!propLines);
negOne_3.SetHiding(!propLines);
zero_3.SetHiding(!propLines);
posone_3.SetHiding(!propLines);
postwo_3.SetHiding(!propLines);
posthree_3.SetHiding(!propLines);
#-- Label

Addlabel(showLabel, "(0.13%) $" + Round(negThree1,2), if negThree then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + Round(negTwo1,2), if negTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + Round(negOne1,2), if negOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + Round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + Round(posOne1,2), if posOne then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + Round(posTwo1,2), if posTwo then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + Round(posThree1,2), if posThree then Color.RED else Color.DARK_RED);

# -- Bubbles
AddChartBubble(negThree_3 and negThree_3[n-1] and propBubbles, negThree_3 ,round(negThree1[n],2),
              if negThree[n] then Color.RED else Color.GRAY, yes);
AddChartBubble(negTwo_3   and negTwo_3[n-1]  and propBubbles, negTwo_3   ,round(negTwo1[n],2),
              if negTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(negOne_3   and negOne_3[n-1]  and propBubbles, negOne_3   ,round(negOne1[n],2),
              if negOne[n] then Color.GREEN else color.GRAY, yes);
AddChartBubble(zero_3     and zero_3[n-1]    and propBubbles, zero_3     ,round(zero1[n],2),
              if zero[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posOne_3   and posOne_3[n-1]  and propBubbles, posOne_3   ,round(posOne1[n],2),
              if posOne[n] then Color.GREEN else Color.GRAY, yes);
AddChartBubble(posTwo_3   and posTwo_3[n-1]  and propBubbles, posTwo_3   ,round(posTwo1[n],2),
              if posTwo[n] then Color.YELLOW else Color.GRAY, yes);
AddChartBubble(posThree_3 and posThree_3[n-1] and propBubbles, posThree_3 ,round(posThree1[n],2),
              if posThree[n] then Color.RED else Color.GRAY, yes);

#-- Clouds
#HighlightLevels
AddCloud(if !HighlightLevels then na else three22, two22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two22, one22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else one22, negOne22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne22, negTwo22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo22, negThree22, Color.DARK_RED);

AddCloud(if !HighlightLevels then na else three_22, two_22, Color.DARK_RED);
AddCloud(if !HighlightLevels then na else two_22, posOne_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else posOne_22, negOne_22, Color.DARK_GRAY);
AddCloud(if !HighlightLevels then na else negOne_22, negTwo_22, CreateColor(78,78,0));
AddCloud(if !HighlightLevels then na else negTwo_22, negThree_22, Color.DARK_RED);

#-- Signals
def zRising  = z >= highest(average(z, 5), 5);
def zFalling = z <= lowest(average(z, 5), 5);

def sigUp = (source crosses above zsma) and zRising and z>0.5;
def sigDn = (source crosses below zsma) and zFalling and z<-0.5;

AddChartBubble(ShowSignals and sigUp, low, "Buy", Color.GREEN, no);
AddChartBubble(ShowSignals and sigDn, high, "Sell", Color.RED, yes);

#END of CODE

LOWER CODE:

CSS: 
#// © Steversteves
#indicator("Z-Score Probability Indicator")
#t1 = "Determines the Length of Z-Score Assessment. Defaults to a 75 lookback period"
#t2 = "Determines the length of the SMA if the user selects Show SMA. Default is 75, but for a more responsive SMA you can reduce it to 14. Optional."
#Converted by sam4Cok@Samer800    - 06/2023

declare lower;
input priceBubbleLocatation = 5;
input LookbackLength  = 75;         # "Lookback Length" tip: t1
input smaLength       = 14;         # "SMA Length"      tip: t2
input ShowPriceBubble = yes;        # "Distribution Probaiblity Price"
input showLabel       = yes;        # "Show Z-Table"
input showSmaLine     = yes;        # "Show SMA"

def na = Double.NaN;
def last = isNaN(close);
def n = priceBubbleLocatation;
def bar_index = AbsValue(CompoundValue(1, BarNumber(), 0));
def loc = ShowPriceBubble and last[n] and !last[n+1];


def cl_sma = Average(close, LookbackLength);
def cl_sd = StDev(close, LookbackLength);
def z = (close - cl_sma) / cl_sd;
def zsma = Average(z, smaLength);
def z_sma = if showSmaLine then zsma else na;

#// Logical Assessments ///

def zero_one = z >= 0 and z < 1;
def two_three = z >= 2 and z < 3.01;
def three = z >= 3;
def zero = z >= 0.99 and z <= -0.99;
def neg_zero_one = z < 0 and z > -1;
def neg_two_three = z <= -2 and z > -3;
def neg_three = z <= -3;
#def falling = z_sma < lowest(z_sma, 3);
def rising = z_sma >= highest(z_sma, smaLength);

#/// Plots ///
plot sma_Z = z_sma;    # "Z-SMA"
plot Z_Score = z;      # "Z-Score"
Z_Score.AssignValueColor(if z>0 then Color.GREEN else Color.RED);
sma_Z.AssignValueColor(if rising then Color.CYAN else Color.MAGENTA);
sma_Z.SetLineWeight(2);

def neutral = 0;
def onesd = 1;
def twosd = 2;
def threesd = 3;
def neg_onesd = -1;
def neg_twosd = -2;
def neg_threesd = -3;

AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);
AddCloud(Z_Score, neutral, Color.GREEN, Color.RED);

AddCloud(if last then na else threesd, twosd        , Color.DARK_RED);
AddCloud(if last then na else twosd, onesd          , CreateColor(157,157,0));
AddCloud(if last then na else onesd, neg_onesd      , Color.DARK_GREEN);
AddCloud(if last then na else neg_onesd, neg_twosd  , CreateColor(157,157,0));
AddCloud(if last then na else neg_twosd, neg_threesd, Color.DARK_RED);

#/// Price Level Calculations ///
def neutral_price = (cl_sma) + (0 * cl_sd);
def onesd_price = (cl_sma) + (1 * cl_sd);
def twosd_price = (cl_sma) + (2 * cl_sd);
def threesd_price = (cl_sma) + (3 * cl_sd);
def neg_onesd_price = (cl_sma) + (-1 * cl_sd);
def neg_twosd_price = (cl_sma) + (-2 * cl_sd);
def neg_threesd_price = (cl_sma) + (-3 * cl_sd);

def zero1;
def one;
def two;
def three1;
def negOne;
def negTwo;
def negThree;

if bar_index >= 75 {
    zero1 = neutral_price;
    one = onesd_price;
    two = twosd_price;
    three1 = threesd_price;
    negOne = neg_onesd_price;
    negTwo = neg_twosd_price;
    negThree = neg_threesd_price;
    } else {
    zero1 = na;
    one = na;
    two = na;
    three1 = na;
    negOne = na;
    negTwo = na;
    negThree = na;
}

AddChartBubble(loc, neutral  , round(zero1[n+1],2), if zero[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, onesd    , round(one[n+1],2), if zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, twosd    , round(two[n+1],2), if two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, threesd  , round(three1[n+1],2), if three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_onesd, round(negOne[n+1],2), if neg_zero_one[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_twosd, round(negTwo[n+1],2), if neg_two_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);
AddChartBubble(loc, neg_threesd, round(negThree[n+1],2), if neg_three[n+1] then Color.WHITE else Color.DARK_GRAY, yes);

#-- Label

Addlabel(showLabel, "(0.13%) $" + round(negThree,2), if neg_three then Color.RED else Color.DARK_RED);
Addlabel(showLabel, "(2.28%) $" + round(negTwo,2), if neg_two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(16.0%) $" + round(negOne,2), if neg_zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(50.0%) $" + round(zero1,2), if zero then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(85.0%) $" + round(one,2), if zero_one then Color.GREEN else Color.DARK_GREEN);
Addlabel(showLabel, "(98.0%) $" + round(two,2), if two_three then Color.YELLOW else CreateColor(78,78,0));
Addlabel(showLabel, "(99.9%) $" + round(three1,2), if three then Color.RED else Color.DARK_RED);


#END of CODE
Click to expand...
@MerryDay Wondering y some prices r colored in red, green and yellow besides the standard color gray and y they disappear or new color appear once stock goes past those prices? R those the probable targets or new resistance/support once stock breaks out/down thru one of the gray colored prices?
 
Arun85 said:
@MerryDay Wondering y some prices r colored in red, green and yellow besides the standard color gray and y they disappear or new color appear once stock goes past those prices? R those the probable targets or new resistance/support once stock breaks out/down thru one of the gray colored prices?
Click to expand...

The chart bubbles, on the right-hand side of the screen, change color in relation to the probability.
There are more details in the labels in the top left corner.
 
MerryDay said:
The chart bubbles, on the right-hand side of the screen, change color in relation to the probability.
There are more details in the labels in the top left corner
Click to expand...
Sorry i meant chart bubbles... I have seen the labels but dont really understand the reason behind that color change while trading. In pic 1 youll see yellow chart bubble and in pic 2 green chart bubble... So my question was whether its telling us to place stop at that price (yellow) if trading above or to long/short or stock has high chance of hitting that price (yellow/green).... Or is it just saying that zcore color is green, yellow or red. Maybe a dumb question but its confusing to me...
 
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