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Benfordslaw

Benford's Law DeviationThis Study uses Benford's Law , which states that unmanipulated numerical real-life data sets should contain a certain distribution of leading digits. This Mathematical Law may be useful to identify whether there is market-manipulation going on and to which degree. The higher the value the script outputs, the higher the deviation from the expected leading-digit distribution - indicating a possibly higher probability of market manipulation going on. The script fetches the leading digits of the volume and percentage price change and calculates their distribution to compute the deviation from the expected distribution according to Benford's Law.
Pine Script® indicator
by xyse
55

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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