OPEN-SOURCE SCRIPT
Descriptive Statistics [Variance]
This indicator displays the Mean and Variance of price over a selected dataset. It is designed to describe the central value of price and the degree of dispersion around it.
The Mean represents the average price level over the selected period. It acts as the central reference point of the dataset.
Variance measures how spread out price values are around the Mean. It reflects the degree of variability or instability in price movement over time.
What it shows?
1. Mean: The average price level of the selected data.
2. Variance: The average squared deviation of price from the Mean.
Key concept
1. The Mean describes the center of price behavior.
2. The Variance describes how widely price moves around that center.
Together, they provide a basic statistical view of market structure and volatility.
⚠️ Note
This indicator is for analytical and educational purposes only and does not provide trading signals or directional predictions.
AUTHOR: TUGUME WILLIAM MUTARA
The Mean represents the average price level over the selected period. It acts as the central reference point of the dataset.
Variance measures how spread out price values are around the Mean. It reflects the degree of variability or instability in price movement over time.
What it shows?
1. Mean: The average price level of the selected data.
2. Variance: The average squared deviation of price from the Mean.
Key concept
1. The Mean describes the center of price behavior.
2. The Variance describes how widely price moves around that center.
Together, they provide a basic statistical view of market structure and volatility.
⚠️ Note
This indicator is for analytical and educational purposes only and does not provide trading signals or directional predictions.
AUTHOR: TUGUME WILLIAM MUTARA
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
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。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
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。