Descriptive Statistics [Median, Quartiles, Outliers]
This indicator seeks to provide insight to traders by modeling market structure using widely accepted statistical methods applied to price data. It does not predict direction; instead, it describes how current price behaves relative to its historical distribution.
It is built around non-parametric statistics, making it resistant to distortion from extreme price movements.
What it shows?
1. Median (Q2): The central equilibrium level of price distribution.
2. Quartiles (Q1, Q3): Boundaries of the “normal” trading range.
3. Interquartile Range (IQR): Measures the width of the core market structure.
4. Outlier Bands (1.5 × IQR rule): Statistical extremes where price becomes unusual relative to recent behavior.
How it works?
The indicator collects price data either through:
1. Reset Mode: Builds a new distribution each session (Daily, Weekly, Monthly, or chart timeframe).
2. Length Mode: Uses a rolling window of the last N candles.
All values are sorted to construct a real-time price distribution, from which median, quartiles, and outlier thresholds are derived.
How to use it?
1. Price inside Q1–Q3 range → normal market conditions
2. Price near Median → equilibrium / fair value zone
3. Price outside Outlier bands → statistically extreme conditions (potential exhaustion, expansion zones or news driven events)
4. Large expansions between Q1 and Q3 → increased volatility and potential momentum in either direction
Key concept?
This tool does not forecast price. It provides a distribution map of market behavior, helping traders understand structure, deviation, and statistical positioning of price.
⚠️ Note
This indicator is for educational and analytical purposes only and should not be used as standalone trading advice.
Author: TUGUME WILLIAM MUTARA
It is built around non-parametric statistics, making it resistant to distortion from extreme price movements.
What it shows?
1. Median (Q2): The central equilibrium level of price distribution.
2. Quartiles (Q1, Q3): Boundaries of the “normal” trading range.
3. Interquartile Range (IQR): Measures the width of the core market structure.
4. Outlier Bands (1.5 × IQR rule): Statistical extremes where price becomes unusual relative to recent behavior.
How it works?
The indicator collects price data either through:
1. Reset Mode: Builds a new distribution each session (Daily, Weekly, Monthly, or chart timeframe).
2. Length Mode: Uses a rolling window of the last N candles.
All values are sorted to construct a real-time price distribution, from which median, quartiles, and outlier thresholds are derived.
How to use it?
1. Price inside Q1–Q3 range → normal market conditions
2. Price near Median → equilibrium / fair value zone
3. Price outside Outlier bands → statistically extreme conditions (potential exhaustion, expansion zones or news driven events)
4. Large expansions between Q1 and Q3 → increased volatility and potential momentum in either direction
Key concept?
This tool does not forecast price. It provides a distribution map of market behavior, helping traders understand structure, deviation, and statistical positioning of price.
⚠️ Note
This indicator is for educational and analytical purposes only and should not be used as standalone trading advice.
Author: TUGUME WILLIAM MUTARA
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。