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Market Heat Z-Score

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The "Market Heat Z-Score" indicator calculates the Z-score of a chosen price source over a specified lookback period, indicating how far the current price is from the mean in terms of standard deviations. It visually represents overbought and oversold conditions with a color gradient and customizable glow effect, with background shading indicating extreme Z-scores.
Notes de version
⚡ Market Heat ⚡ by SP_Quant

A simple and straightforward indicator that uses Z-Score to show market strength and weakness. It highlights overbought and oversold conditions with colors and optional glow effects.

It is easy to use but can be noisy, best suited for spotting quick momentum shifts and mean-reversion setups.

Calculations use only confirmed bars to reduce repainting.

⚠️ Disclaimer:
This indicator is for educational and informational purposes only and does not constitute financial advice, trading advice, or investment recommendations. Use it at your own risk. Always perform your own analysis before making any trading decisions. The author is not liable for any losses or damages resulting from the use of this script.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.