OPEN-SOURCE SCRIPT
Price Scenarios - The Quant Science
GENERAL OVERVIEW
Price Scenarios - The Quant Science is a quantitative statistical indicator that provides a forecast probability about future prices moving using the mathematical-statistical formula of statistical probability and expected value.
https://www.tradingview.com/x/OelfF4iR/
HOW TO USE
The indicator displays arrow-shaped signals that represent the probable future price movement calculated by the indicator, including the current percentage probability. Additionally, the candlesticks are colored based on the predicted direction to facilitate visual analysis. By default, green is used for bullish movements and red for bearish movements. The trader can set the analysis period (default value is 200) and the percentage threshold of probability to consider (default value is greater than 0.50 or 50%) through the user interface.
https://www.tradingview.com/x/Xw6iQecO/
USER INTERFACE
Lenght analysis: with this features you can handle the length of the dataset to be used for estimating statistical probabilities.
https://www.tradingview.com/x/PBUbP0O3/
Expected value: with this feature you can handle the threshold of the expected value to filter, only probabilities greater than this threshold will be considered by the model. By default, it is set to 0.50, which is equivalent to 50%.
https://www.tradingview.com/x/XjAUkspn/
Design Settings: modify the colors of your indicator with just a few clicks by managing this function.
https://www.tradingview.com/x/WAQySPHn/
We recommend disabling 'Wick' and 'Border' from the settings panel for a smoother and more efficient user experience.
https://www.tradingview.com/x/ZvTAJ1vC/
Price Scenarios - The Quant Science is a quantitative statistical indicator that provides a forecast probability about future prices moving using the mathematical-statistical formula of statistical probability and expected value.
https://www.tradingview.com/x/OelfF4iR/
HOW TO USE
The indicator displays arrow-shaped signals that represent the probable future price movement calculated by the indicator, including the current percentage probability. Additionally, the candlesticks are colored based on the predicted direction to facilitate visual analysis. By default, green is used for bullish movements and red for bearish movements. The trader can set the analysis period (default value is 200) and the percentage threshold of probability to consider (default value is greater than 0.50 or 50%) through the user interface.
https://www.tradingview.com/x/Xw6iQecO/
USER INTERFACE
Lenght analysis: with this features you can handle the length of the dataset to be used for estimating statistical probabilities.
https://www.tradingview.com/x/PBUbP0O3/
Expected value: with this feature you can handle the threshold of the expected value to filter, only probabilities greater than this threshold will be considered by the model. By default, it is set to 0.50, which is equivalent to 50%.
https://www.tradingview.com/x/XjAUkspn/
Design Settings: modify the colors of your indicator with just a few clicks by managing this function.
https://www.tradingview.com/x/WAQySPHn/
We recommend disabling 'Wick' and 'Border' from the settings panel for a smoother and more efficient user experience.
https://www.tradingview.com/x/ZvTAJ1vC/
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.