Stochastic Z Score MT5 Scanner

OVERVIEW

Stochastic Z-Score is a momentum oscillator that blends a volatility-normalized Z-Score with stochastic logic and smooths it using a Hull Moving Average (HMA).

It converts price deviations into a normalized, easy-to-read signal, with a long-term ALMA component providing additional context.

The result is a responsive oscillator that captures sharp imbalances while remaining stable in sideways markets.

Colored histograms, dynamic bands, and reversal labels help visualize momentum shifts and potential turning points at a glance.

• A Z-Score compares price with its mean and scales it by standard deviation to show how far current price has moved from typical values.

• Passing that Z-Score through a stochastic function bounds the signal for straightforward interpretation.

• HMA smoothing reduces noise.

• A long-term ALMA of the Z-Score acts as a trend filter to avoid short-term traps.

• The tool adapts well across different symbols and timeframes.

• Z-Score histogram (optional) with a gradient to show deviation intensity.

• Primary oscillator line (smoothed stochastic Z-Score).

• Levels at overbought (default +2) and oversold (default −2) to distinguish regular and extreme zones.

• Long-term momentum line (ALMA) with contextual coloring for trend phases.

• Reversal markers when short-term crosses occur at extremes with supporting long-term momentum.

• Built-in alerts for momentum shift, zero-line crosses, overbought/oversold entries, and trend confirmation.

• Use the oscillator to track momentum shifts and identify potential reversal areas.

• A rise that crosses above the previous value — especially from below oversold (default −2) — combined with an ALMA above zero suggests bullish conditions; the reverse applies for bearish setups.

• Reversal labels appear only when both short- and long-term conditions align.

• Treat overbought and oversold levels as warning zones:

  • Values inside indicate typical trends.

  • Moves beyond suggest stretched or extreme states.

• Adjust the length parameter to match the asset’s volatility.

• Enable the histogram to examine raw Z-Score movements.

• Configure alerts to be notified of key momentum changes and zone entries.