Smoothed RoC Z-Score Indicator

This indicator calculates the rate of change (RoC) of price over a user-defined lookback period, then applies a double exponential smoothing (DEMA) and standardizes the result using a Z-Score. The output quantifies how extreme recent price momentum is compared to historical norms.

Key Features:

🔄 RoC Calculation: Measures momentum over the past n bars.

🧮 Z-Score Normalization: Detects statistical extremes and anomalies.

📉 Threshold Signals: Visual markers appear when Z-Score crosses user-defined upper or lower thresholds.

🎨 Elegant Visuals: Uses a clean purple/teal theme for enhanced clarity and style.

🔔 Alerts Included: Get notified when thresholds are crossed.

Use Cases:

Identify potential trend reversals or momentum spikes.

Spot overbought/oversold zones with greater sensitivity than traditional oscillators.

Combine with other indicators or strategies for confirmation.

Customizable Inputs:

RoC Lookback: Controls the momentum period.

Smooth Length: Applies double EMA smoothing.

Z-Score Length: Sets the statistical baseline.

Long/Short Thresholds: Define entry/exit sensitivity.