OPEN-SOURCE SCRIPT
Nearest Percentile Moving Average Bands
While coding some filters into another indicator for Long/Short I noticed that ta.nearest.percentile might be the most useful tool in pinescript I've ever encountered.
While percentile_nearest can be used for all kind of things I decided to code moving averages from it and made bands for bottom percentage and top percentage.
The indicator will calculate the top % price of the given bar length.
Example settings:
length: 150
percentile: 99
So when using 99% it will draw a green line when price is moving above the top 1% price of the last 150 candles. It then calculates if the price is below the bottom 1% of the last 150 candles.
Trading use:
Use this indicator to check if the market is leaving normal territory. This signals a breakout move for example the dogecoin pump or the top of the range. I use this indicator to catch bull/bear moves for botting purposes. An other use would be to countertrend trade after the move has ended. With price being in top 1% for a while it is very probable that we see a large correction.
Below example of dogecoin pumps:
While percentile_nearest can be used for all kind of things I decided to code moving averages from it and made bands for bottom percentage and top percentage.
The indicator will calculate the top % price of the given bar length.
Example settings:
length: 150
percentile: 99
So when using 99% it will draw a green line when price is moving above the top 1% price of the last 150 candles. It then calculates if the price is below the bottom 1% of the last 150 candles.
Trading use:
Use this indicator to check if the market is leaving normal territory. This signals a breakout move for example the dogecoin pump or the top of the range. I use this indicator to catch bull/bear moves for botting purposes. An other use would be to countertrend trade after the move has ended. With price being in top 1% for a while it is very probable that we see a large correction.
Below example of dogecoin pumps:
Skrip sumber terbuka
Dalam semangat sebenar TradingView, penulis telah menerbitkan kod Pine ini sebagai sumber terbuka supaya pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda boleh menggunakan perpustakaan ini secara percuma, tetapi penggunaan semula kod dalam penerbitan ini adalah dikawal oleh Peraturan dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.
✅ Learn how I trade as a FUND MANAGER with my private indicators here.
Website —> honestalgo.com
Website —> honestalgo.com
Website —> honestalgo.com
FREE telegram channel —> t.me/honestalgo
Website —> honestalgo.com
Website —> honestalgo.com
Website —> honestalgo.com
FREE telegram channel —> t.me/honestalgo
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.