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Moving Z Score

Moving Z Score is an indicator which displays the Z Score of a given period. Z Score is a principle of statistical probability. Moving Z Score can be used for manual trading or built into an Expert Adviser for automated trading.

It is presented as a line chart which you may change the color.

Generally speaking...

  • Z Score of close to or above 2 may indicate that the price will fall soon (About 98% chance the next price will be within the area of a normal distribution curve of the last N prices).
  • Z Score of close to or below -2 may indicate that the price will rise soon (About 2% chance the next price will be within the area of a normal distribution curve of the last N prices).
  • Z Score close to zero may indicate neither an upward or downward tendency (50% chance the next price will be within the area of a normal distribution curve of the last N prices).
  • A Z Score Chart is located here. Please research the use of Z Score and statistical probability using binomial distributions before trading using Moving Z Score.


Automated Trading

For automated trading, use the indicator buffer of the double type:

  1. Moving Z Score - buffer 0.


Input Parameters

  1. ZPeriod - Period of the Moving Average used to calculate Z Score.
  2. ZMethod - method of averaging the Moving Average used to calculate Z Score:
    • MODE_SMA - 0.
    • MODE_EMA - 1.
    • MODE_SMMA - 2.
    • MODE_LWMA - 3.
  3. ZAppliedTo - price used by the Moving Average used to calculate Z Score:
    • PRICE_CLOSE - 0.
    • PRICE_OPEN - 1.
    • PRICE_HIGH - 2.
    • PRICE_LOW - 3.
    • PRICE_MEDIAN - 4.
    • PRICE_TYPICAL - 5.
    • PRICE_WEIGHTED - 6.

Moving Z Score was created by Hilton Global LLC.

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