Description: The indicator tries to find an area of N candles in history that has the most similar price action to the latest N candles. The maximum search distance is limited to 5000 candles. It works by calculating a coefficient for each candle and comparing it with the coefficient of the latest candle, thus searching for two closest values. The indicator...
Library "SimilarityMeasures" Similarity measures are statistical methods used to quantify the distance between different data sets or strings. There are various types of similarity measures, including those that compare: - data points (SSD, Euclidean, Manhattan, Minkowski, Chebyshev, Correlation, Cosine, Camberra, MAE, MSE, Lorentzian, Intersection, Penrose...
Experimental: Compares the similarity of two instruments price patterns.
Library "FunctionCosineSimilarity" Cosine Similarity method. function(sample_a, sample_b) Measure the similarity of 2 vectors. Parameters: sample_a : float array, values. sample_b : float array, values. Returns: float. diss(cosim) Dissimilarity helper function. Parameters: cosim : float, cosine similarity value (0 > 1) Returns: float
This indicator uses a simple time series forecasting method derived from the similarity between recent prices and similar/dissimilar historical prices. We named this method "ECHO". This method originally assumes that future prices can be estimated from a historical series of observations that are most similar to the most recent price variations. This similarity...