- 25th (= 1st quartile)
- 50th (= median)
- 75th (= 3rd quartile)
You can choose between 2 methods to compute percentiles:
- Linear interpolation
- Nearest rank
(Check pinescript reference manual for more details)
The script also let you plot one Moving average, useful for comparison with the median. Supported MA:
- Least squares
An example of operational rule could be:
- Buy when observing crossovers between price and 3rd quartile, and viceversa, sell when observing crossunders between price and 1st quartile.
- Close buy positions when observing crossunder between price and median, and viceversa.
However these are only simple example for teaching purpose. I suggest you to create your own strategy.
Hope you enjoy the script. Please support and follow me if you like my work. More content will be added in the future.
- Possibility to choose n and m for n-th and -th percentiles (they were set by default to n = 10 and m = 90, in the previous version of the script)
- Minor fixes to the code.
- Added FRAMA to moving averages list.
- Percentiles settings are now separated from MA settings
- Added support for Double Exponential MA (DEMA) and Triple Exponential MA (TEMA)
- Added 0 and 100th percentiles.
- Fixed the plot fill section. Now the channel will be filled, no matter which combination of percentiles you choose.
- Other minor fixes to the code .