OPEN-SOURCE SCRIPT
Z-Scored Pi Cycle Top & Bottom
This indicator calculates the Z-score of the Pi Cycle Top & Bottom indicator to identify potential market cycle tops and bottoms. It uses the relationship between two EMAs (111 and 350) to assess the price action and applies a Z-score to determine how far the current value deviates from the mean, providing a normalized measure of overbought and oversold conditions.
Summary:
The Z-Scored Pi Cycle Top & Bottom indicator is designed to help traders identify significant market cycle extremes by applying a Z-score to the Pi Cycle Top & Bottom ratio (EMA 111/EMA 350). This normalized score ranges between -2.99 and 2.99, with values near the extremes suggesting potential market tops or bottoms. Green shading indicates a positive Z-score (potential top), while red shading indicates a negative Z-score (potential bottom).
Use this indicator to gauge where the market stands relative to historical tops and bottoms, allowing for more informed decision-making in both bull and bear markets. The indicator also displays the absolute value of the Z-score in the label, helping traders easily visualize how far the current market is from historical extremes.
**I did not come up with or create this indicator I have just z scored it and made it easier for myself to use.***
Summary:
The Z-Scored Pi Cycle Top & Bottom indicator is designed to help traders identify significant market cycle extremes by applying a Z-score to the Pi Cycle Top & Bottom ratio (EMA 111/EMA 350). This normalized score ranges between -2.99 and 2.99, with values near the extremes suggesting potential market tops or bottoms. Green shading indicates a positive Z-score (potential top), while red shading indicates a negative Z-score (potential bottom).
Use this indicator to gauge where the market stands relative to historical tops and bottoms, allowing for more informed decision-making in both bull and bear markets. The indicator also displays the absolute value of the Z-score in the label, helping traders easily visualize how far the current market is from historical extremes.
**I did not come up with or create this indicator I have just z scored it and made it easier for myself to use.***
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。