Statistical analysis refers to a collection of methods used to process large amounts of data and report overall trends. Statistical analysis is particularly useful when dealing with noisy data. Statistical analysis provides ways to objectively report on how unusual an event is based on historical data.
Our server uses statistical analysis to examine the tremendous amount of data produced every day by the stock market. We usually prefer statistical analysis to more traditional forms of technical analysis because statistical analysis makes use of every print. Candlesticks, by comparison, throw away an arbitrary number of prints before the analysis starts.
Candlesticks, point and figure charts, and other traditional forms of technical analysis were designed long ago. They were specifically created for people who were analyzing the data by hand. Statistical analysis looks at more data, and typically requires a computer.
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