What Is The Best Cut-off Point For A ROC Curve
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- Easy install — copy & attach to chart
- Works on MT4 and MT5
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Common Methods to Find the Threshold
- Youden’s J Statistic: Maximize
Sensitivity + Specificity - 1. This point sits the farthest vertical distance above the diagonal line of random guessing. - Top-Left Corner: Find the point closest to coordinates
(0, 1)on the plot. This spot represents the highest true positive rate with the lowest false positive rate. - Cost-Benefit Analysis: Factor in business needs. Lower the threshold if missing a positive case (like a disease) is costly. Raise the threshold if false alarms (like a bad hire) are expensive.
As a consensus on notes, pure statistical formulas cannot replace human judgment regarding the real-world cost of errors.
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How to Install on MetaTrader
- Download the file and extract it.
- In MetaTrader open File → Open Data Folder → MQL4/MQL5.
- Copy robots to "Experts" and indicators to "Indicators".
- Restart MetaTrader and drag the tool onto a chart.
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