ProbabilityMap Studies

A ProbabilityMap study is a forecasting tool, usually plotted to the right of the last price bar on the chart, which allows you to view potential price changes using probability calculations derived from the symbol's recent trading history. Each ProbabilityMap study uses a different formula to calculate the probability of the potential price changes; for a description of each built-in ProbabilityMap study, refer to the ProbabilityMap Study Library.

Your product includes built-in ProbabilityMap studies, and you can also create your own using EasyLanguage. Just like other studies, ProbabilityMap studies are usually written using inputs, which means that you can customize the studies as you apply them to a chart and customize them to your liking.

ProbabilityMap studies are normally used to forecast future price changes; therefore, you should add blank space to the right of the last bar before adding a ProbabilityMap study; otherwise, there won't be space to plot the ProbabilityMap study. The number of blank bars you should add to the right of the chart depends on the ProbabilityMap study you are adding; refer to the description of the specific study for information on how many bars out it forecasts, and therefore how many to add.

Once you add a ProbabilityMap study you can move it to any other bar on the chart, and it will forecast based on the bar on which you placed it.

You can only apply one ProbabilityMap study per chart; however, you can apply the ProbabilityMap study to any symbol in your chart.

See ProbabilityMap Study Library for detailed descriptions and illustrations of each ProbabilityMap study.

ProbabilityMap Studies

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