Z-Scored Volume [KFB Quant]

The Z-Scored Volume (CSV) indicator is designed to make it easier to identity potential market extremes.

What is the Z-Score?

• The Z-Score is a statistical measure that quantifies how far a particular data point is from the mean of a group of data. It's expressed in terms of standard deviations from the mean.
  
  How to calculate the Z-Score?
• Z-Score = (Value - Mean) / StDev
  
  How the script works
• In this script we calculate the Z-Score of the charts volume.
  
• We get the Mean of the predefined period in the Length Configuration tab by using the ta.sma function.
  
• We get the StDev of the predefined period in the Length Configuration tab by using the ta.stdev function.
  
• The default period is 360.
  
  
  
  Past performance does not guarantee future results. This indicator is for informational & educational purposes only.