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Median Proximity Percentile [AlgoAlpha]

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📊🚀 Introducing the "Median Proximity Percentile" by AlgoAlpha, a dynamic and sophisticated trading indicator designed to enhance your market analysis! This tool efficiently tracks median price proximity over a specified lookback period and finds it's percentile between 2 dynamic standard deviation bands, offering valuable insights for traders looking to make informed decisions.

🌟 Key Features:
  • Color-Coded Visuals: Easily interpret market trends with color-coded plots indicating bullish or bearish signals.
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  • Flexibility: Customize the indicator with your preferred price source and lookback lengths to suit your trading strategy.
  • Advanced Alert System: Stay ahead with customizable alerts for key trend shifts and market conditions.


🔍 Deep Dive into the Code:
  1. Choose your preferred price data source and define lookback lengths for median and EMA calculations. and
  2. Calculate median value, price deviation, and normalized value to analyze market position relative to the median.
  3. Determine upper and lower boundaries based on standard deviation and EMA.
  4. Compute the percentile value to track market position within these boundaries.
  5. Enhance your analysis with Hull Moving Average (HMA) for smoother trend identification.
  6. Visualize trends with color-coded plots and characters for easy interpretation.
  7. Set up advanced alerts to stay informed about significant market movements.


🚨 Remember, the "Median Proximity Percentile [AlgoAlpha]" is a tool to aid your analysis. It’s essential to combine it with other analysis techniques and market understanding for best results. Happy trading! 📈📉
Nota Keluaran
Replaces "EMA" with "HMA" in the inputs.
Nota Keluaran
Added Alerts for trend swings
Added the option to turn on/off the noise scatterplot
algoalphaalgotradingchartmeanreversionmedianMomentum OscillatorsOscillatorspercentileTechnical AnalysisTrend AnalysistrendfollowingWave Analysis
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