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
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.