Strategy: Combo Z Score

Script from: TradingViewSwingVolatilityTrend followingMomentumMean reversion

The Combo Z Score strategy employs the Z-Score of VIX vs VVIX and MOVE vs inverted VIX, with %B for momentum exposure, aiming to predict SPY movements by analyzing the VIX and MOVE correlations. This approach offers an alternative to the conventional VIX-only methods, and by incorporating variables like EMA on shorts and Oil over Oil Volatility as a selectable option, it adapts to various market conditions. Backtesting results demonstrate its potential profitability and effectiveness over multiple timeframes.

Audit verdict

Not rankedUpdated Jul 28, 2026

No reliable edge found

Its average result can't be told apart from chance, so it stays out of our rankings. The script itself passed our repainting audit.

2,473backtests3 markets

34robust scoreranked median 52

0.40p-valueranked median 0.24

4/145pass quality gatebacktests >15 trades

Audit details

How we decide whether a strategy enters our rankings. Read the methodology →

✓

Repainting audit

8 of 8 checks passed.

✓

Script availability

Open-source, still published on TradingView.

Statistical edge

Average t-statistic 1.24 (p = 0.40), below the median of 1.98 (p = 0.24) for ranked strategies.

✓

Quality gate

4 of 145 backtests with more than 15 trades pass our quality gate.

Robust score

34/100, below the median of 52 for ranked strategies.

How its evidence compares

The t-statistic measures how far the average result sits from zero relative to its noise. Below about 2, it is within what random entries produce.

1.24

avg. t-statistic

1.98

median, ranked strategies

Best 5 of 2,473 backtests

Shown for transparency.

Symbol	Timeframe	Net profit	Profit factor	Trades	Max drawdown
Dow Jones 30 BLACKBULL:US30	1D	+22,290%	2.29	46	1743%
NIFTY 50 NSE:NIFTY	15m	+8,442%	2.50	98	54%
E-MINI NASDAQ-100 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:NQ1!	2H	+5,540%	1.61	752	72%
E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1!	4H	+5,002%	3.43	257	13%
Gold Futures COMEX:GC1!	2H	+4,909%	2.28	500	36%

⚠Selected after the fact: these are the best 5 of 2,473 runs, not what to expect from this strategy.

Is Strategy: Combo Z Score profitable?

Not reliably, based on our tests. Across 2,473 backtests, 4 of 145 with more than 15 trades pass our quality gate. The best result is +22,290% on Dow Jones 30 (1D, 46 trades). On average, its results are statistically indistinguishable from chance (p = 0.40).

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