Compression Period Tracker is the companion script to Compression MA to read out the period length that is actually being tracked. It is analogous to Mean Reversion Period Tracker, and makes sense to use in the same indicator window when using the two sets of indicators together on the same chart.
This version caps the maximum period length at 600, an empirically-chosen number based on some testing of Mean Reversion MA to try to avoid picking overly distant targets and which dramatically improves stability. In practice, it should be extraordinarily rare for compression MA to need to track something longer than 600, small TFs notwithstanding.
My volatility indicators are available by subscription in several packages through SharkCharts.live - and this is planned to be the first new one ready to add. I plan to release a video explaining how to use this indicator coinciding with launch, as there's a lot to talk about. Videos on my other indicators are currently hosted on DadShark's YouTube channel.
Current pricing and subscription details will be kept up-to-date on SharkCharts.live
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General refinements ahead of formal release. Adds a separate function with a different color scheme for displaying the current longest overexpanded period.
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Minor visual change in how bands are handled where a period is not being tracked.
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I accidentally published Compression MA (600 Max) over this script. Reverted.
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Increased default line thickness as it's becoming popular among subscribers to overlay the period tracker scripts over 3D WAVE-PM in the same window, for which the increased thickness is very helpful in visually distinguishing the indicator.