Z-Score indicator derived from Pecker's previously released indicators (Percentile and PPO Fishnet). Includes linear regression bands weighted by volume/volatility.
Any help where i can get informations how to read this indicator? Looks great
Koalafied_3
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@r1kkk3r, it's basically the z-score of the angle of multiple hull ma's. The columns are the average of all of them and the dotted line is a moving average of this. The small lines are the slopes of the individual hull ma's. The bands are sort of standard deviation bands around the average which are weighted by volatility. It's like an extrapolation on a standard z-score indicator, with deviation bands added. The bands tighten with reduced volatility and expand with more volatility. They may be good places to fade a move. Standard divergences with price can be used too.
plsthink
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Very nice indicator, good job.
Could you please share the "Volume Extension" and "VPVR" indicators used on this chart ?
Koalafied_3
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@lckmidnight, Thanks. VPVR is an inbuilt volume profile indicator. I might do up the volume extension for a future release, but it's simply a candle colouring of extreme (>2 std deviation) of volume. Nothing special but I find it useful.