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AlAlawi ~ Volume Confidence Breakout

צפיות ‎247‎
16
This is a Volume statistical mean and Lognormal deviation

This indicator shows X amount of Volume bars Lognormal Mean and Standard Deviation, then applies your confidence level.

Just hit like to keep getting free indicators!
הערות שחרור: No major change to the original code, changed the default number of volume bars to get closer to the mean and lowered the confidence level to 90% ~ 1.645.

Changed the line to a Histogram with easier to see Get Ready Bars.

This indicator is one of my favourite for its sheer simplicity, enjoy it!
הערות שחרור: Adding Text for clear labeling
הערות שחרור: Finalized the LUX on this indicator with a few mods, sadly, replicating the original Volume indicator takes a toll on productivity and decided to just not to try to overlay the indicator on the price chart.

Changes are done to the script to improve missed Volume Breakouts due to Standard Error of the Sample size, I decided to have it relatively aggressive to increase the number of breakouts for overall less volatile instruments that most FX Traders would enjoy such as EURUSD

Note~ The aggressiveness here is not considered a faulty approach, just statistically riskier relatively while this indicator is also not built to be used Solely without due diligence.

If you make money with this Replacement of the Volume, SMASH that LIKE button to help boost the Free Indicators Morale!
הערות שחרור: Adjusted the format of the figures to read as Volume such as (10K)

Hit like or TROLL this indicator out!
הערות שחרור: Okay another fancy upgrade to this Indicator is to have a Dynamic Confidence Level that would generally increase at times of significant volatility where volume continues to rapidly breakout a constant 90% (1.645) confidence level for example...

So we run a count of Breakouts to adapt for Significant Activity,
if there were Less than 25 Breakouts, we would have 90% 1.645
if there were Less than 50 Breakouts, we would have 95% 1.96
if there were Less than 75 Breakouts, we would have 99% 2.576
Else Pi is what I use as my THEORETICAL 100% Confidence Level.

if you don't like it TROLL this indicator, else a simple thank you is just a good motivation.
הערות שחרור: Accelerated the Velocity of Breakout Adjustment on the Dynamic Confidence, this should help improve responsiveness.
הערות שחרור: Added a title to the plots to easily identify them from the settings clog ...
הערות שחרור: Clean Up!
הערות שחרור: As part of getting a better point estimate of a more reliable mean if that makes any sense to Humans out there !!
I decided to trim away the outliers in the sampled data should they become in excess of 95% or lower than 5% to avoid skewed data and get a normal distribution (less probability in the tails)

This hopefully would now work better on Stocks due to the nature of trading on equities.
הערות שחרור: Hello every1

To allow a selective variety for the amount of data to trim from the volume ... this is generally valid for stocks that relatively drops dead on volume during the day ... this allows you to put a trim on the top and lower ~ 90 95 99 and the virtual 100% at 99.999999

play up the options and let me know if this indicator helped you in any way in the comments below..
הערות שחרור: typo
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תגובות

would be nice to distinguish buying and selling tho)
השב
@mrgr888n, The volume bars solely isn't sufficient to predict the direction, but it does illustrate areas of significant activity which usually act as Support and Resistance Levels or were indeed so in the past already.
השב
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