ChrisMoody

CM_Laguerre PPO PercentileRank Mkt Tops & Bottoms

Custom Code that Finds Market Tops & Bottoms!!!

CM_Laguerre PPO PercentileRank V2 Mkt Tops & Bottoms

Original Laguerre PPO code was Created by TheLark.
Special Thanks to coondawg71 and ChartArt for Great Insights

This Is Version 2 Of This Indicator that now Finds Market Tops and Bottoms.

Coming Next…Upper Indicator Pinpointing Entries Based on Price Action!!!

See Original Post Below For Detailed Information.


Other Indicators That Show Market Bottoms Well.

CM ATR PERCENTILERANK - GREAT FOR SHOWING MARKET BOTTOMS!

GREAT CONFIRMING INDICATOR FOR THE WILLIAMS VIX FIX

TWO TRADING SYSTEMS - BASED ON EXTREME MOVES!!!

Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Vill du använda det här skriptet i ett diagram?
//Created by ChrisMoody on 11/03/2014...Original PPO Code Created by TheLark
//Thanks to coondawg71 and ChartArt for Great Insights
//Great for Spotting Tops & Bottoms.
study(title = "CM_Laguerre PPO PercentileRank Mkt Tops & Bottoms", shorttitle="CM_Laguerre PPO PctRank Tops-Bottoms", overlay=false, precision=1)
pctile = input(90, title="Percentile Threshold Extreme Value, Exceeding Creates Colored Histogram")
wrnpctile = input(70, title="Percentile Threshold Warning Value, Exceeding Creates Colored Histogram")
Short = input(0.4, title="PPO Setting")
Long = input(0.8, title="PPO Setting")
lkbT = input(200,title="Look Back Period For 'Tops' Percent Rank is based off of?")
lkbB = input(200,title="Look Back Period For 'Bottoms' Percent Rank is based off of?")
sl=input(true,title="Show Threshold Line?")
swl=input(true,title="Show Warning Threshold Line?")

//Laguerre PPO Code from TheLark
lag(g, p) =>
    L0 = (1 - g)*p+g*nz(L0[1])
    L1 = -g*L0+nz(L0[1])+g*nz(L1[1])
    L2 = -g*L1+nz(L1[1])+g*nz(L2[1])
    L3 = -g*L2+nz(L2[1])+g*nz(L3[1])
    f = (L0 + 2*L1 + 2*L2 + L3)/6
    f
lmas = lag(Short, hl2)
lmal = lag(Long, hl2)

pctileB = pctile * -1
wrnpctileB = wrnpctile * -1

//PPO Plot
ppoT = (lmas-lmal)/lmal*100
ppoB = (lmal - lmas)/lmal*100
//PercentRank of PPO 
pctRankT = percentrank(ppoT, lkbT)
pctRankB = percentrank(ppoB, lkbB) * -1
//Color Definition of Columns
colT = pctRankT >= pctile ? red : pctRankT >= wrnpctile and pctRankT < pctile ? orange : gray
colB = pctRankB <= pctileB ? lime : pctRankB <= wrnpctileB and pctRankB > pctileB ? green : silver
//Plot Statements.
plot(pctRankT,title="Percentile Rank Columns", color=colT, style=columns, linewidth=2)
plot(sl and pctile ? pctile : na, title="Extreme Move Percentile Threshold Line", color=red, style=linebr, linewidth=4)
plot(swl and wrnpctile ? wrnpctile : na, title="Warning Percentile Threshold Line", color=orange, style=line, linewidth=4)

plot(pctRankB,title="Percentile Rank Columns", color=colB, style=columns, linewidth=2)
plot(sl and pctileB ? pctileB : na, title="Extreme Move Percentile Threshold Line", color=lime, style=linebr, linewidth=4)
plot(swl and wrnpctileB ? wrnpctileB : na, title="Warning Percentile Threshold Line", color=green, style=line, linewidth=4)
plot(0, title="0 Line Circles Plot", style=circles, linewidth=4, color=silver)
plot(0, title="0 Line-Line Plot", style=linebr, linewidth=4, color=gray)