The CDF calculates the probability that a random observation will be less than or equal to a certain value. By normalizing financial data to a range of 0 to 1, it enables consistent comparison across assets and periods, aiding in the creation of trading indicators.
Example
NormProb: CDF((C - MA(C, 20)) / StdDev(C, 20))
Probability (0 to 1) that a normally distributed value would be at or below the current z-score.
