Stochastic Z Score MT4 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 signal, with a long-term ALMA component providing additional context.
The result is an oscillator designed to reflect imbalances.
Visualization elements include colored histograms, dynamic bands, and reversal labels.

• 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 interpretation.

• HMA smoothing reduces noise.

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

• The tool is intended for use 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).

• 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 alignment.

The scanner can be enabled or disabled to monitor other charts.
Available alerts include:

• Up/Down label appears

• Momentum Shift label appears

• Oscillator crossed above/below the zero line (bullish/bearish state)

• Long-term momentum (ALMA) crossed above/below the zero line

• Oscillator entered overbought (default > 2.0) / oversold (default < −2.0) zone
  These alerts are available when using the scanner.

Usage

Use the oscillator to track momentum shifts and review threshold crosses.
A rise that crosses above the previous value—especially from below oversold (default −2)—combined with an ALMA above zero marks a bullish state; the reverse marks a bearish state.
Reversal labels appear only when both short- and long-term conditions align.

Treat overbought and oversold levels as warning zones:

• Values inside indicate typical ranges.

• Moves beyond indicate stretched 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.