OPEN-SOURCE SCRIPT
Premier Stochastic Oscillator [LazyBear, V2]
This script builds on the well-known Premier Stochastic Oscillator (PSO) originally introduced by LazyBear, and adds a Z-Score extension to provide statistical interpretation of momentum extremes.
Features
Premier Stochastic Core: A smoothed stochastic calculation that highlights bullish and bearish momentum phases.
Z-Score Mapping: The PSO values are standardized into Z-Scores (from –3 to +3), quantifying the degree of momentum stretch.
Positive / Negative Z-Scores:
Positive Z values suggest momentum strength that can align with accumulation or favorable buying conditions.
Negative Z values indicate stronger bearish pressure, often aligning with selling or distribution conditions.
On-Chart Label: The current Z-Score is displayed on the latest bar for quick reference.
How to Use
Momentum Confirmation: Use the oscillator to confirm whether bullish or bearish momentum is intensifying.
Overextended Conditions: Extreme Z-Scores (±2 or beyond) highlight statistically stretched conditions, often preceding reversions.
Strategic Integration: Best applied in confluence with trend tools or higher-timeframe filters; not a standalone trading signal.
Originality
Unlike the standard PSO, this version:
Adds a Z-Score framework for objective statistical scaling.
Provides real-time labeling of Z values for clarity.
Extends the classic oscillator into a tool for both momentum detection and mean-reversion context.
Features
Premier Stochastic Core: A smoothed stochastic calculation that highlights bullish and bearish momentum phases.
Z-Score Mapping: The PSO values are standardized into Z-Scores (from –3 to +3), quantifying the degree of momentum stretch.
Positive / Negative Z-Scores:
Positive Z values suggest momentum strength that can align with accumulation or favorable buying conditions.
Negative Z values indicate stronger bearish pressure, often aligning with selling or distribution conditions.
On-Chart Label: The current Z-Score is displayed on the latest bar for quick reference.
How to Use
Momentum Confirmation: Use the oscillator to confirm whether bullish or bearish momentum is intensifying.
Overextended Conditions: Extreme Z-Scores (±2 or beyond) highlight statistically stretched conditions, often preceding reversions.
Strategic Integration: Best applied in confluence with trend tools or higher-timeframe filters; not a standalone trading signal.
Originality
Unlike the standard PSO, this version:
Adds a Z-Score framework for objective statistical scaling.
Provides real-time labeling of Z values for clarity.
Extends the classic oscillator into a tool for both momentum detection and mean-reversion context.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.