CM_Laguerre PercentileRank - Markets Topping
Original Laguerre code was Created by TheLark.
I found if I applied a Percent Rank of the to view Extreme Moves in the it was great at showing Market Tops.
Features via Inputs Tab:
Ability to set all Indicator Values.
Ability to set Warning Threshold Line Value and Extreme Percentile Threshold Line Values.
Ability to turn On/Off Warning and Extreme Percentile Rank Lines.
***I’ve found this Indicator to be Valid…However, I have NOT Extensively tested the Settings. Initially setting the LookBack Period to 200 on A with a 90 Extreme Percentile Rank Value works Good. Some charts changing the Lookback period to 50 an draisisng the Extreme Percentile Rank Line to 95 Works Great.
***To Be Blunt…When I look at the underlying Indicator…I don’t know why this Shows Us What It Does When the Percentile Rank Function is applied to it…But For Whatever Reason…It Just Works.
***If you Find Very Useful Settings Please Post Below
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!!!
//Created by ChrisMoody on 10/28/2014...Original PPO Code Created by TheLark //Great for Spotting Tops. study(title = "CM_Laguerre PPO PercentileRank", overlay=false) 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") lkb = input(200,title="Look Back Period 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) L1 = -g*L0+nz(L0)+g*nz(L1) L2 = -g*L1+nz(L1)+g*nz(L2) L3 = -g*L2+nz(L2)+g*nz(L3) f = (L0 + 2*L1 + 2*L2 + L3)/6 f lmas = lag(Short, hl2) lmal = lag(Long, hl2) //PPO Plot ppo = (lmas - lmal)/lmal*100 //PercentRank of PPO pctRank = percentrank(ppo, lkb) //Color Definition of Columns col = pctRank >= pctile ? red : pctRank >= wrnpctile and pctRank < pctile ? orange : gray //Plot Statements. plot(pctRank,title="Percentile Rank Columns", color=col,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)