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Z-Score difference

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[2021-11-18 14:04:14] #1 [Go To First Post]
User718690 - Posts: 18
Greetings, I need some help with Z-score. I was using TradingView and Thinkorswim's and I tried to use the same settings in the Z-score in Sierra Chart platform, but they both look very differently. Im uploading two screenshot to compare . Both charts are 15mins ES future contract for December 2021. Can you assist, so I can see it the same way as the one in TradingView ?


Z.score.png / V - Attached On 2021-11-18 14:00:41 UTC - Size: 78.68 KB - 351 views Attachment Deleted. Z.score1.png / V - Attached On 2021-11-18 14:03:16 UTC - Size: 56.31 KB - 271 views

[2021-11-18 14:25:33] #2 [Go To First Post]
Sawtooth - Posts: 4179
One is using the Open, one is using the Close.

[2021-11-19 13:45:31] #3 [Go To First Post]
User718690 - Posts: 18
Im sorry, but this is not the problem. Any changes I make cannot smooth the Z-score like the one in trading view. Look at the dips the one in Sierra is making - they are DRAMATIC ! Date Time Of Last Edit: 2021-11-19 13:51:26

[2021-11-19 16:03:47] #4 [Go To First Post]
John - SC Support - Posts: 38341
We show how we calculate all of our studies, and there are spreadsheets showing manual calculations against the system's calculations to show that they are correct. So if you want to check our math, you are welcome to do so. You will find the information for the Z-Score here: Z-Score But, the point is that we stand behind our calculations. Therefore, you need to consider where the difference in the data is coming from - their calculation or ours? For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing

[2021-11-21 06:41:25] #5 [Go To First Post]
SC Support Tom - Posts: 450
Can you post the documentation of the z-score studies from the other platforms?

[2021-11-22 13:29:40] #6 [Go To First Post]
User718690 - Posts: 18
I guess the difference is coming from the formula/calculation you have. See, yours is the only Z-score thats different. Thinkorswim's and tradingview's are looking the same - smoothed, not dramatized like the one in Sierra chart. These are the studies from Thinkorswim: declare lower; input price = close; input length = 20; input ZavgLength = 20; #Initialize values def oneSD = stdev(price,length); def avgClose = simpleMovingAvg(price,length); def ofoneSD = oneSDprice[1]; def Zscorevalue = ((price-avgClose)/oneSD); def avgZv = average(Zscorevalue,20); #Compute and plot Z-Score plot Zscore = ((price-avgClose)/oneSD); Zscore.setPaintingStrategy(paintingStrategy.HISTOGRAM); Zscore.setLineWeight(2); Zscore.assignValueColor(if Zscore > 0 then color.green else color.red); plot avgZscore = average(Zscorevalue,ZavgLength); avgZscore.setPaintingStrategy(paintingStrategy.LINE); And these are from TradingView: //@version=3 study("Z Score") Length = input(20) StdDevs = input(2.0) src = input(close) basis = sma(src,Length) zscore = (src-basis)/stdev(src, Length) plot(zscore, color=#55FF55) hline(StdDevs, color=white, linestyle=dotted) hline(-1StdDevs, color=white, linestyle=dotted)

[2021-11-22 21:56:51] #7 [Go To First Post]
SC Support Tom - Posts: 450
We use the same formula as both Thinkorswim and Tradingview, and that formula is correct. Did you look at the actual numbers that the study is producing on each platform, or are you just eyeballing the graphs? You really need to do the former, as identical graphs can look very different depending on the horizontal and vertical scales used. If you were to put the study values from each platform into a spreadsheet, I would be surprised if you saw a difference. All three z-scores are computed identically: (Price - SMA(Price,Length))/STDEV(Price,Length). Date Time Of Last Edit: 2021-11-23 00:08:44

[2021-11-23 13:34:17] #8 [Go To First Post]
User718690 - Posts: 18
The one in tradingview and thinkorswim is going only to SD2-3-4. What are the numbers that Z-score in Sierra represent : -80,-60,-40,-20 to 20 40 60 80 ?! I have never heard of SD6,8 ?! Only the range of the scale is a problem. The dramatic peaks and bottoms that Sierra's zscore I want to change to a range between SD-3 and SD3 for example.

[2021-11-23 13:43:09] #9 [Go To First Post]
User718690 - Posts: 18
https://i.ibb.co/RymHCLQ/Capture.png Sierra Chart https://i.ibb.co/9HkpR9W/image.png Thinkorswim https://i.ibb.co/WGpj3mB/Capture1.png TradingView These are all screenshots of the same period of time with the same length (10),the same SD2 and the same source Last/close (2) . All Im saying is that your Z-score has a strange scale and range and I want to exclude these dramatic bottoms and tops you see at the screenshot Date Time Of Last Edit: 2021-11-23 13:44:23

[2021-11-23 14:31:40] #10 [Go To First Post]
Sawtooth - Posts: 4179
Sierra's Z-Score matches TOS's if the settings are Last, 10, 10


Z-Score.PNG / V - Attached On 2021-11-23 14:31:15 UTC - Size: 27.29 KB - 197 views

[2021-12-01 14:26:50] #11 [Go To First Post]
User718690 - Posts: 18
Thanks man, you were the only one who understood what I meant. GAME CHANGER !

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