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Stocks & Commodities V. 21:2 (94-109, 52): Traders' Tips by Technical Analysis, Inc.
Stocks & Commodities V. 21:2 (94-109, 52): Traders' Tips by Technical Analysis, Inc.
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Traders Tips by Technical Analysis, Inc.
TRADESTATION: Z-SCORE INDICATOR
Veronique Valcus article Z-Score Indicator in this issue provides a description and commentary on a new method of displaying directional change normalized in terms of standard deviation. This indicator can be drawn on a TradeStation screen by using the following function code, called ZScore: Function: ZScore inputs: Price( NumericSeries ), AvgLen( NumericSimple ) ; ZScore = (Price - Average( Price, AvgLen ) ) / StandardDev( Price, AvgLen, 1 ) ; This indicator has two inputs, Price and AvgLen. Price can be the open, high, low, or close. AvgLen describes the length of the sample considered in the standard deviation calculation.
TRADESTATION: Z-SCORE INDICATOR
Veronique Valcus article Z-Score Indicator in this issue provides a description and commentary on a new method of displaying directional change normalized in terms of standard deviation. This indicator can be drawn on a TradeStation screen by using the following function code, called ZScore: Function: ZScore inputs: Price( NumericSeries ), AvgLen( NumericSimple ) ; ZScore = (Price - Average( Price, AvgLen ) ) / StandardDev( Price, AvgLen, 1 ) ; This indicator has two inputs, Price and AvgLen. Price can be the open, high, low, or close. AvgLen describes the length of the sample considered in the standard deviation calculation.
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