Statistical Suite
Statistical Suite is a Pro group for comparing trend quality, unusual moves, benchmark relationships, lead-lag behavior, and probable ranges. It summarizes historical price behavior; it does not turn that history into a guarantee.
Where to find it
- Open Charts → Indicators → Statistical for studies that update with each bar.
- Open the drawing toolbar's Forecasting → Statistical section for studies anchored to a range you choose.
- Open Analysis → Lead-Lag Scanner to search for markets that have tended to move before the active symbol.
Choose a tool
| Question | Start with |
|---|---|
| Is the current trend steady or weakening? | Regression Slope, Trailing Regression, or R-Squared |
| Is price unusually far from its recent behavior? | Standard Deviation or Z-Score |
| Is the symbol outperforming a benchmark? | Alpha, Beta, Relative Comparison, or Correlation |
| Does another market tend to move first? | Lead-Lag Scanner and Lead-Lag Overlay |
| Where has price spent the most time? | Dynamic or Session Price Distribution |
| Is price separating from another applied indicator? | Slope Divergence |
| What range should be treated as plausible context? | Probability Cone or Probability Box |
Benchmark tools request comparison data automatically and default to SPY. Change the benchmark when another index, ETF, futures proxy, or related symbol better matches the research question.
Lead-Lag workflow
- Open Lead-Lag Scanner and choose a preset, watchlist, or manual group of candidate symbols.
- Run the scan and compare the displayed lead, relationship strength, and evidence badge.
- Select a result to add its Lead-Lag Overlay. The shifted trace meets the current chart and may extend beyond the latest bar as a dashed tail.
- Watch whether the relationship continues on new bars. Remove the overlay when the leader stops behaving consistently.
A historical lead does not establish cause and can disappear when market conditions change. Closely related ETFs may also appear strong because they describe nearly the same market rather than providing independent information.
Statistical drawing tools
| Drawing | Use it for |
|---|---|
| Linear Regression | A best-fit trend reference across an anchored move |
| Linear Regression Band | The same trend reference with adjustable outer bands |
| Probability Cone | A range that widens through future time |
| Probability Box | A fixed future window with upper and lower context |
| Price Distribution | A view of how observations are spread across an anchored range |
Use a drawing when the exact start and end of the study are part of the idea. Use an indicator when you want the view to keep rolling forward automatically.
A practical workflow
- Start with a trend-quality tool to decide whether the current move is orderly or unstable.
- Add Z-Score or a band only if stretched price is relevant to the setup.
- Add one benchmark comparison when relative performance matters.
- Use a distribution or probability drawing as target and risk context, not as a promised boundary.
Read the result
- Longer lookbacks are steadier and slower. Shorter lookbacks react faster and can change sharply after one large bar.
- A strong relationship between two symbols describes co-movement, not causation.
- A projected range assumes recent behavior remains relevant; gaps and volatility changes can move outside it immediately.
- Price distributions depend on the selected session and range. Confirm those settings before comparing two charts.
- Do not count several closely related statistical measures as separate confirmation.
Plan access
All Statistical indicators, drawings, and Lead-Lag Scanner require Pro. Locked entries remain visible so their purpose can be reviewed before upgrading.
Related guides
- Charts Workspace for the Analysis rail
- Indicators for the category map
- Drawing Tools for anchored-study editing