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Return Abnormality Score [SpiritualHealer117]
The Return Abnormality Score indicator is designed to help traders identify potential reversals in price by detecting abnormal daily returns beyond a certain significance level. The indicator uses a normal cumulative distribution function to calculate the probability of the daily return and flags it when it exceeds the specified significance level.
Traders can use this indicator by monitoring the abnormality score. If the daily return is negative, the probability is multiplied by a negative number. Therefore, if the abnormality score goes above the positive threshold, it suggests that the price is oversold, while if it goes below the negative threshold, it indicates that the price is overbought. It can also be helpful for spotting bear or bull traps due to their irregular behavior.
Depending on the trader's preference, the indicator can be smoothed or unsmoothed.
This indicator should be paired with other technical analysis tools like SSL Hybrid for trend confirmation, and proper risk management strategies.
Traders can use this indicator by monitoring the abnormality score. If the daily return is negative, the probability is multiplied by a negative number. Therefore, if the abnormality score goes above the positive threshold, it suggests that the price is oversold, while if it goes below the negative threshold, it indicates that the price is overbought. It can also be helpful for spotting bear or bull traps due to their irregular behavior.
Depending on the trader's preference, the indicator can be smoothed or unsmoothed.
This indicator should be paired with other technical analysis tools like SSL Hybrid for trend confirmation, and proper risk management strategies.
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開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。