Probability distribution FREE
The indicator serves to:
- determine the probability density distribution of prices. This allows you to detail the structure of the channel, the position of its boundaries and statistically correctly predict the probability of price being in all segments of its fluctuations;
- determining the moment of the channel change, for which a non-lagging moving average is being built, the algorithm of which was developed by the author.
Probability distribution FREE is a freely distributed version of the indicator Probabilities distribution of price. Probability distribution FREE, being a freely distributed indicator, differs from the paid version of Probabilities distribution of price only by the restriction on the timeframes used - only the M15 timeframe can be used.
To trade on all timeframes, use the Probabilities distribution of price indicator or the even more advanced version of Probability distribution PRO, where the asymmetry indicator - Asymmetry , is also used to more accurately determine the state of the market.
The principles and features of the operation of the indicator Probability distribution FREE, as well as trading methods using this indicator, can be viewed at the link Probabilities distribution of price.
Operation modes and settings
- The averaging period in the bars of the current graph (2n+1) - averaging period (1-99).
- Number of countable bars of the current chart (<=200) - number of calculated indicator graph bars (1-200).
- Shifting the calculation area of the indicator - global indicator shift (0-100).
- The non-lagging distribution is calculated - calculate a non-lagging distribution.
- The non-late channel is calculated - calculate the current non-lagging channel.
- Show the values of the probabilities of zones - display area probability values.
Color and display settings:
Colors in probability density descending order.
- Color of the maximum probability zone (0);
- Color of zone (1);
- Color of zone (2);
- Color of the zone of average probability (3);
- Color of zone (4);
- Color of zone (5);
- Color of the minimum probability zone (6);
Parameters of non-lagging moving average.
- Moving average price type - applied price. Values: Close price, Open price, High price, Low price, Median price ((high + low)/2 - default), Typical price ((high + low + close)/3), Weighted price ((high + low + 2*close)/4).
- The averaging method - averaging method. Values: Simple (default), Exponential, Smoothed, Linear weighted.
- Confidence probability - Values: from 0 to 0.999 (0.5 by default).
- Color of the moving average line=clrDarkOliveGreen; - The color of the indicator line and its figure sector.
- Paint over the confidence interval? Values: true, false (by default)
Trading mode settings:
- Calculate the lot size from the risk, deposit and channel
- Deposit in $
- Allowable losses in %
- The channel strategy is used - true - intra-channel strategy (false - channel breakthrough strategy)
- Color of message about the size of the lot
- Information about the lot at the bottom of the channel (false - information at the top of the channel)