In MT5, Z-score tests whether the sequence of wins/losses is random or patterned. MT5’s “Z-Score” on the report refers to serial correlation of wins. A Z-score beyond ±3 suggests non-random clustering of wins or losses (e.g. a high positive Z implies a win is likely followed by a loss, and vice versa). It is an advanced statistic to check for streakiness; traders may use it to adjust money management.

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