The Elite Circle - Mean and Median
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The Elite Circle
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Mean and Median 5 *
This indicator plots the statistical means and medians of the Master Instrument price series.
  • The mean is the sum of all price values that occur during the life of the bar, divided by the number of prices. (Simple arithmetic mean)
  • The median is the price in the middle of the series. Half of the prices are above the median, and the other half of those prices are below the median. (Statistical median)
  • The smaller the difference between mean and median, and the closer they are to the vertical midpoint of the bar, the more symmetrical is the distribution of the prices over the life of the bar.

Because the historical calculation uses an ADDed one tick secondary data series, this indicator is slow to load. The backfill setting should be DAYS back, not bars back. Minimize the number of days that you go back. Start with ONE.

Because the means and medians are Plots, you should be able to access them for use as inputs to other indicators. Keep me posted on how well that works.

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November 3rd, 2011
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