OPEN-SOURCE SCRIPT
Sigma Distance From Moving Average
This is an indicator I've wanted to build for a while. The advent of AI and vibe coding circa 2026 made it feasible.
This is an iteration of the previous indicator I shared - % distance from moving average - which, as explained in the self-described title, displays the % distance an asset's current price sits above or below whatever moving average you enter on whatever timeframe you choose.
This new version expresses this distance as a z score rather than a %. The high level is we're going one level deeper - knowing how far an asset's current price is from its moving average is interesting, but what's more interesting is knowing how often this asset reaches this level above/below its moving average. Some assets are volatile, others less so. For something that moves a lot, being 15-20% above its 50 day moving average isn't all that rare. For something that doesn't move a lot, that might be a once in a ten thousand occurrence - we want to be able to quantify this. That's what this one does.
Enjoy!
This is an iteration of the previous indicator I shared - % distance from moving average - which, as explained in the self-described title, displays the % distance an asset's current price sits above or below whatever moving average you enter on whatever timeframe you choose.
This new version expresses this distance as a z score rather than a %. The high level is we're going one level deeper - knowing how far an asset's current price is from its moving average is interesting, but what's more interesting is knowing how often this asset reaches this level above/below its moving average. Some assets are volatile, others less so. For something that moves a lot, being 15-20% above its 50 day moving average isn't all that rare. For something that doesn't move a lot, that might be a once in a ten thousand occurrence - we want to be able to quantify this. That's what this one does.
Enjoy!
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.