MACD Z-Score standardized value

MACD Z-Score standardized value

This indicator is a standardized MACD, it gives values also knows as Z-Score which represent the deviation of a value compared to an average of its deviation over a greater period.

By default the study period is set to 2000. So the indicator will draw the current MACD normalized accordingly to what happen to the MACD in this past 2000 bars. The Z-Score is drawn from -3 to +3 deviation from the 0 mean. So adapt these lines to the period and volatility of the instrument you are studying. 

This code could be adapted to any other indicator.

 

 

code adapted from Louis Sparks

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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