Median Proximity Percentile [AlgoAlpha]

18 gen

📊🚀 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:

1. Choose your preferred price data source and define lookback lengths for median and EMA calculations.
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2. Calculate median value, price deviation, and normalized value to analyze market position relative to the median.
   Pine Script®
3. Determine upper and lower boundaries based on standard deviation and EMA.
   Pine Script®
4. Compute the percentile value to track market position within these boundaries.
   Pine Script®
5. Enhance your analysis with Hull Moving Average (HMA) for smoother trend identification.
   Pine Script®
6. Visualize trends with color-coded plots and characters for easy interpretation.
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7. 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! 📈📉

18 gen

Note di rilascio

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

4 feb

Note di rilascio

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