Median Proximity Percentile [AlgoAlpha]

📊🚀 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.
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:

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

🚨 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! 📈📉

發行說明

Replaces "EMA" with "HMA" in the inputs.

發行說明

Added Alerts for trend swings
Added the option to turn on/off the noise scatterplot

AlgoAlpha

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開源腳本

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 publications is governed by House rules. 您可以收藏它以在圖表上使用。