BBPCT

6 Jul 2020

Indicator tracks percentage distance between current price and its historical deviations, to produce premium and discount zones, suggest mean reversions,cooldowns and pullbacks

Script so far is traditional,simple, and straight forward ,tinkered it real quick on friend request after failing to find properly done and intuitive work on Bollinger Bands % in pine library

It might or might not be re-published as open source or study protected script , really depends on how future updates goes,how much work will be put in and how unique end result will be.

//Input Options in first release

Option to switch between small (6) variety of filters
(This time no non-traditional filters to avoid overwhelming and confusing users ,current list still yields good diversity for changing indicators behavior and pinpointing best suited filtering direction, in future current types will be swapped with more advanced ones and consolidated into three options tailored for different market conditions - trending,ranging, and balanced(?) - jack of all trades master of none.)

Option to toggle basic warnings about possible reversals,option for colored bars(candles) and/or arrow plots

OB/OS levels can be adjusted via inputs
Note: Current default compiling will lack traditional values as i ditched them and set to personal preference, set to 100 0 for traditional look

Sigma can be changed in inputs,length obviously can be changed too

Source can be changed

//Upcoming updates
Polishment- algorithmic change for cores logic
Attempt to build logic to differentiate pullbacks from reversals
More complex reversal recognition and their confirmations
Proper color coding


//Screencaps










Dont use comment section for asking access , got two warnings already from tradingview moderators because people flood the comment section and apparently its offence from my end to not provide directions for access.

If u are willing to test indicator and actually deliver feedback,ideas, params - Dm(direct message) and we add u ,expiration timer will be set in place to clean up in case no feedback is delivered.

P.S its not likely i will add more people to testing after people count reach 40-50 or script becomes older than week

15 Jul 2020

Nota Keluaran

Props to fren https://www.tradingview.com/u/Jolty/ for suggesting and finding this signal type

Added pullback signal option in inputs, Experimenting with most efficient len for it right now


Feedback and suggestions into dm :)

15 Jul 2020

Nota Keluaran

Input typo

27 Jul 2021

Nota Keluaran

add divs and adaptive mid level

18 Dis 2021

Nota Keluaran

added:

• alerts when crossing all levels.
  
• option to only use pivots above a certain level when divergence filtering
  
• Middle Overbought/Oversold multiplier.
  

27 Dis 2021

Nota Keluaran

fix div bar coloring