// The script is useful to inspect probability: // If previous day closed at lowest price for several days // how often next day would be red bar // As one can see gray lines indicate bars with lowest close. If next bar is green, increment diff_hi, overwise increment diff_lo // Probability is counted as diff_lo / (diff_hi+diff_lo) // One can copy script and...
EXPERIMENTAL: just some experimentation to check results, putting it out there. :P odds of the next bar being up or down bar.
This is Covariance on Covariance. It shows you how much a given covariance period has deviated from it mean over another defined period. Because it is a time series, It can allow you to spot changes in how covariance changes. You can apply trend lines, Fibonacci retracements, etc. This is also volume weighting covariance. This is not a directional indicator nor...
Co-variance is a representation of the average percent data points deviate from there mean. A standard calculation of Co-variance uses One standard Deviation. Using the empirical rule, we can assume that about 68.26% of Data points lie in this range. The advantage to plotting co variance as a time series is that it will show you how volatility of a trailing...