Applicable instruments: All Applicable timeframes: All
Measures price deviation from the mean in standard deviations using Z-Score, identifying statistically significant overbought and oversold zones. Z-score above +2 indicates overbought (price deviates more than 2 standard deviations from mean), below -2 indicates oversold. Built-in ±2σ and ±3σ reference levels with three-color visual distinction.
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Platform
MT5
Last Update
Jan 2026
Features
- Z-Score statistical oscillator measuring price deviation in standard deviations
- Three-color histogram: gray (normal), orange-red (overbought), green (oversold)
- Built-in ±2σ and ±3σ horizontal reference levels
- Customizable lookback period for different trading styles
- Multiple price source options (close, open, high, etc.)
- Z>+2 statistically overbought, Z<-2 oversold with only 5% probability
- Suitable for mean reversion and extreme deviation capture strategies
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