You are here

PROB - Market Probability Indicator

Printer-friendly versionPDF version

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

Right-click in the indicator window and choose PROB - Market Probability. Or right-click on the chart and choose Add Indicator Window, then choose PROB - Market Probability.

Example of Market Probability



To open the Market Probability Preferences click on the Quick Link (PROB) in the lower right of the indicator window. If you click on the chart, the Preferences tab will go back to chart settings.

Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Update All MPROBs will apply your selected settings on all open charts. Save As My Default will save your current personal settings.

Market Probability: Select how many years you would like to view and what color you would like the indicator to be.  

Show Gradient Color: Toggle gradient color shading on or off.

Thresholds: View up to four thresholds at a value that you type in and a color that you choose.