Monte Carlo Simulation (200 Random Walks)
This indicator uses Monte Carlo methods to predict the future price of a security using 200 random walks.
Monte Carlo methods rely on repeated random sampling to create a data set that has the same characteristics as the sample source, representing examples of alternate possible outcomes. The data set created using random sampling is called a “random walk”. Obtaining a mean from 200 random walks allows us to benchmark the performance of the source against the random walks obtained from the source.
Monte Carlo Utility
This Monte Carlo simulator plots a single line that represents 200 random walks across any security and time stamp. The line is red if most of the random walks are lower than the price of the security, and blue if the walks are higher.
Input Values
Select the “Format”, button located next to the indicator label to adjust the input values and the style.
The Monte Carlo indicator has only one user-defined input value that can be changed.
The Random_Variable determines set of random walks. If this variable is changed, it will run a fresh set
of 200 random walks which will result in a slightly different outcome. 200 random walks will load
relatively quick and produce roughly the same outcome as 10,000 random walks.
Adding the indicator to your chart multiple times using many different random variables will allow you
to achieve a more accurate reading.
For more information on this indicator view the PDF here: kenzing.com/product/monte-carlo-simulation-200-random-walks/
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact GrantPeace directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
kenzing.com
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact GrantPeace directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
kenzing.com