When Increased to the Downside Reaches Extreme Levels it’s Usually a Sign of a Market Bottom.
This Indicator Takes the ATR and uses a different LookBack Period to calculate the Percentile Rank of ATR Which is a Great Way To Calculate
Be Careful Of Using w/ Market Tops. Not As Reliable.
***Ability to Control ATR Period and set PercentileRank to Different Lookback Period
***Ability to Plot Histogram Just Showing Percentiles or Histogram Based on Up/Down Close
Fuchsia Lines = Greater Than 90th Percentile of based on ATR and LookBack Period.
Red Lines = Warning — 80-90th Percentile
Orange Lines = 70-80th Percentile
Other Useful Indicators
Williams Vix Fix
CM_RSI Is a Great Filter for Williams Vix Fix
//Created By ChrisMoody on 9/17/2014 //Ability to control ATR period and set PercentileRank to Different Lookback Period //Ability to Plot HIstogram Just Showing Percentiles or Hitogram Based on Up/Down Closes study(title="CM_ATR_Percentile", shorttitle="CM_ATR_PrcntRank", overlay=false, precision=0) length = input(5, minval=1, title="ATR Length") length2 = input(50, minval=1, title="# of Bars the PercentileRank uses to Calculate % Values") sn = input(true, title="Show Normal Histogram? Uncheck = Histogram based on Up/Down Close") //ATR and PercentileRank Calculations atr = sma(tr, length) pctileRank = percentrank(atr, length2) down = close < close up = close > close //Calculation for Showing Histogram based on Up/Down Close pctileRankFinal = up ? pctileRank : down ? pctileRank * -1 : na //Color Rules col = pctileRank <= 70 ? gray : pctileRank > 70 and pctileRank < 80 ? orange : pctileRank >= 80 and pctileRank <= 90 ? red : pctileRank >= 90 ? fuchsia : silver //Plot Statements plot(sn and pctileRank ? pctileRank : pctileRankFinal, title="PercentileRank Histogram",style=columns, linewidth=2, color=col) plot(0, title="0 Line", style=line, linewidth=3, color=silver)
Therefore...these settings are pretty obvious
The settings (Default) are Larry's settings. But I did create inputs so people can adjust. What's different is I changed everything to show a percentile based result...I did this to filter out the moves that don't meet the Extreme criteria so people wouldn't have to evaluate the indicaator...the Extreme moves just show up. The way larry plots it is imagina a line going from highs to lows with Bolinger Bands on top of the line. So when the line exceeds the bollinger bands there is your extreme move. But I knew if I coded it that way people would see things that weren't really there...b/c they want to get in to a trade.
So when people play with the settings there are "moving parts" in the background being adjusted also....It's kind of funny....you have one of the best traders of our time that provides a indicator he has tested extensively...and people want to mess with the settings to try and catch more moves...instead of the extreme moves the indicator is designed to pinpoint.
Please don't take this as being rude towards you in any way. History, has shown I go out of my way to help people in any way possible on TradingView. However I'm constantly being asked questions that aren't specific. Therefore I have no idea what answer to give. You know exactly what you mean by asking the question. I can't read you mind.
So when you say Please update the "Code"...In what way? It works. If you have a specific feature in mind then please state the "specific" feature.
If your asking me to update the code so it's compatable with TOS? This is not possible. TOS uses a different more complex coding language, while Pinescript is much more user friendly and as mentioned below...the capabilities of PineScript are soon to have extremely advanced capabilities. More importantly...If you watched the latest video I posted...It states that sometime this month we will be introducing Paper Trading...and after any bugs are worked out TradingView will be integrating brokerages to give you the ability to trade through the charts...(This will take a while)..Therefore TOS is soon to become a direct competitor. So people posting code for other platforms...and soon to be direct competitors is not acceptable. Imaging calling TOS and asking them to code one of their indicators for TradingView for you. We both know what the response will be.
With that being said...I trade options through TOS...and I'll throw you a bone...
You may find someone on here that mentions they use TOS too...If you PM that person they may be willing to help you out...HINT...HINT...possibly me!!! But let's keep other platforms off the main threads.
Another Bone....go to http://www.Thinkscripter.com ... It's owned by a guy named Eric...he's the #1 coder for TOS. There is a free version of his site...and a paid version. I've been a paid member for years...there are talented coders on there that can code anything. Plus as a paid member you get a zip file that has 100+ indicators Eric has coded. This 'May" have been where I came across the indicator in the first place. I wouldn't copy Eric's work...that's an unwritten rule amongst coders. But I may have taken the general concept and converted it to a Percentile Rank which highlights the EXTREME moves in green.
Please don't take this as me attacking your question in any way. My sincerest apologies if you take it that way. Not my intentions.
This same conversation will be had with many others. Many will vouch for my willingness to help anyone out in any way I can. TradingView's goal is to become the best platform available to the retail trader....Period...With full strategies and backtesting coming out around December, and full broker integration coming after that...Full scanning capability coming later on...I hope you start to understand that while TOS offers a few more capabilities. today...In my opinion...it won't for long...And I'm a 10+ year TOS user...The features the developers are creating now...and the features they are working on behind the scenes...will be first ever features ever seen in this industry.
You...and everyone else are at the right place at the right time....a little patience....GREAT THINGS to COME....
I don't expect you to translate your code for platforms that you do not use or need.
(I hope some else will.)
My second comment "Please update the CM ATR PercentileRank bars" was regarding the CHART at the top of the post. I would have liked to have seen it update to show today's market conditions. When I try to get it to update, it doesn't include your awesome study's bars for the new dates. But, now I realize that this request wasn't reasonable because it would need to be updated whenever someone wants to see "today's" market conditions.