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//PRC_multipleZscore analysis | indicator
//26.06.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge

//--- settings 
period = 20
MAtype = 1
definition = 100
//--- end of settings 

globalz=0

for i = 1 to definition do
 avg = average[period*i,MAtype](customclose)
 st = std[period*i](customclose)

 zscore = (customclose-avg)/st

 if zscore<0 then
  r=255-(30*i)
  g=0
  drawtext(".",barindex,zscore,Dialog,Bold,20) coloured(max(r,100),g,0)
 else
  r=0
  g=255-(30*i)
  drawtext(".",barindex,zscore,Dialog,Bold,20) coloured(r,max(g,100),0)
 endif

 globalz=(globalz+zscore*i)/definition

next
smooth=average[period](globalz)


RETURN 0 coloured(100,100,100) style(dottedline), 2 coloured(100,100,100) style(dottedline), -2 coloured(100,100,100) style(dottedline), 4 coloured(100,100,100) style(dottedline), -4 coloured(100,100,100) style(dottedline), smooth