PMax uses ATR calculation inside, for this reason users couldn't manage to use PMax on because indicator doesn't have High and Low values in bars, but ATR needs that values. So I personally calculate in a different way to have High and Low values of wrt price bars.
Because of the sudden movements and divergences on , this indicator must firstly optimized for the charts before using. Optimization can be held by users for the meaningful parameters for each chart.
3 parameters are critical when optimizing:
Second: Tillson T3 Length
Third: T3 Factor
Says, Kıvanç Özbilgiç. Here's the strategy version for you to backtest & optimize properly.
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.