The historic Market Probability
indicator shows the cumulative number of times the market in question
has settled higher, lower, or the same on a specific date compared to
the previous trading day's settlement price.
For example, if you are looking at a five year market probability
indicator with a reading of +1, then the market in question may have
historically settled higher three times and lower two times on this
trading day than the previous trading day, or settled higher twice,
lower once, and the same twice. The +1 reading is derived by subtracting
the number of negative settlements from positive settlements, resulting
in a net number of positive (+) or (-) settles. In other words, the +1
reading in these examples would be indicative of a market which has
settled higher one more time than it has settled lower. If the market
settled at the same price as the previous day, the total is not changed.
Displaying the Market Probability Indicator:
Click on the "PROB" button located in your indicators menu bar (shown
below).
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