CM_Laguerre PPO PercentileRank Mkt Tops & Bottoms

CM_Laguerre PPO PercentileRank Mkt Tops & Bottoms

This indicator find market tops and bottoms with the use of the percentile rank of a derivated Laguerre oscillator. The market tops and bottoms are spotted with unique colors (green for bottoms and red for tops), when the oscillator cross over the extreme percentile rank (90%). The mid threshold lines could also act as warning that the price has reached a top or a bottom.

Fits well on a daily basis as ranking an oscillator value by its percentile rank is a good idea that can be explore in many other ways. Here is another path to follow for future research!

 

This code is adapted from pinescript one by Chris Moody. 

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. Dimi.A • 02/23/2016 #

    Thanks for converting this. Would be nice to see an updated version compatible for 10.3 mate.

  2. wp01 • 02/23/2016 #

    Dear Nicolas,
    I’ve been trying this indicator but unfortunately i can not get the settings right. I do not see the colors red and green like in your example.  I’ve been trying several settings also with additional
    colorzones but unfortunatley with no luck. Ive tried it on the 10.2 version from IG and on the 10.3 from PRT. I hope you can explain me what i’m doing wrong.
    Thank you on forehand for your time.
    Best regards,
    Patrick
    I

    • Dimi.A • 02/23/2016 #

      Yep, same here. It defaults to just lines in grey.

    • Nicolas • 02/23/2016 #

      Just set “Top” positive color to red and “Bottom” negative color to green, every others returned variables set to grey by default.

  3. Dimi.A • 02/23/2016 #

    Nic, any chance we could get an updated version for 10.3 please?This is a very solid indy for reversals.

    • wp01 • 02/23/2016 #

      Unfortunately that was the option i didn’t try. Thanks for the help, it works just fine now.

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