The new array feature is extremely powerful, as it will allow pinescript users to do more complex things, or compute existing calculations more efficiently, it will also be possible to shine some light to some already existing functions, one of them being percentile_nearest_rank .
We have been working on this new feature with our pal alexgrover, and made this...
//Every spread & central tendency measure in 1 script with comfortable visualization, including scrips's status line.
- Standard deviation (for most cases);
- Average deviation (if there are extreme values);
- GstDev - Geometric Standard Deviation (exclusively for Geometric Mean);
- HstDev - Harmonic Deviation (exclusively for Harmonic...
This study tries to highlight ranges
as they are defined by
TradingLatino TradingView user.
The study uses median values.
A range is defined as periods when the price does not move a lot.
Its default values are aimed at BTCUSDT pair and 4h timeframe.
HOW IT WORKS
For each of the bars a '5' median is calculated based on the 'highest of open and close'
Statistical methods based on mean cannot be effective all the time when attributed to financial data since it doesn't usually follow normal distribution, the data can be skewed or/and have extreme values which can be described as outliers.
In order to deal with this problem it is appropriate to use median-based techniques.
The most common one is called...
This is a composite indicator made up of:
- modifided (rescaled) version of evergets version of recursive median oscillator.
- 1996anoojpatels Futur modification of Ehlers Fisher Transform Ribbons Indicator
I think Ehlers attempts to minimise latency in indicators are extremely valuable and some of my most use trading tools. Thanks to all the authors whose...
For private peeps only
- Takes a modified version of the CCI formula into 2 parts
VCI - Volume Channel Index (Yellow Histogram)
- Measures accurate accumulation and distribution levels and times
MCI - Modified Channel Index
- Measures (when compared to VCI) levels where clearly buys are interested vs not interested.
If VCI > MCI
- Shows buyer's are...
I compared custom median (using the sorting solution by @apozdnyakov) with built-in median (using percentile_nearest_rank function)
If you see the zero line this means the solutions give the same results.
The best results was achieved on the odd lengths.
1) Do not try to reinvent the wheel.
2) Always check the Pine Script docs to find already...
Ehlers Smoothed Adaptive Momentum script.
This indicator was developed and described by John F. Ehlers in his book "Cybernetic Analysis for Stocks and Futures" (2004, Chapter 12: Adapting to the Trend).
Hampel Filter script.
This indicator was originally developed by Frank Rudolf Hampel (Journal of the American Statistical Association, 69, 382–393, 1974: The influence curve and its role in robust estimation).
The Hampel filter is a simple but effective filter to find outliers and to remove them from data. It performs better than a median filter.
Interquartile Range Bands script.
This indicator was originally developed by Alex Orekhov at his home.
The idea based on the interquartile range en.wikipedia.org
If price breaks out from the bands then it is `outlier` price.
After breakouts price always returns to its median.
Watch squeeze/expansion periods.
Anyway use it...
This indicator calculates 3 Moving Averages for default values of
13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).
The most popular method of interpreting a moving average is to compare
the relationship between a moving average of the security's price with
the security's price itself (or between several moving averages).
This indicator shows the percentage amount the price is above or below the moving median value of the period.
This indicator is best used along with the moving median (set to the same period).
Based on the moving median developed with 4x4good