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.