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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  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.

  4. Edisone • 02/23/2016 #

    My chart is only in black and white I can’t get the color bars. Help me pleasse

  5. Edisone • 02/23/2016 #

    Modified colors etc.

  6. Denis • 02/23/2016 #

    Hello everyone, I don’t understand the color setting. The indicator settings combo only allows you to have all the red or green bars or the part above the extreme percentile rank.
    I tried to modify directly in the code the part as below but it does not run :
    //coloring histogram
    if pctRankT>=pctile/100 then
    TopColor =(255,0,0)
    else
    TopColor =(204,204,204)
    endif

    if pctRankB>=pctileB/100 then
    BottomColor = (255,0,255)
    else
    BottomColor = (204,204,204)
    endif
    endif

    • Denis • 02/23/2016 #

      Hi Edisone, see my last comment for setting colors

  7. Denis • 02/23/2016 #

    If someone has an idea to help, many thanks for advance

  8. Denis • 02/23/2016 #

    Then I have tried this but nor does it run :

    //coloring histogram
    if pctRankT>=pctile/100 then
    r=255
    g=0
    b=0
    else
    r=204
    g=204
    b=204
    endif

    if pctRankB>=pctileB/100 then
    r=255
    g=0
    b=255
    else
    r=204
    g=204
    b=204
    endif
    endif

    RETURN pctRankT coloured (r,g,b) as “Top”, pctRankB coloured (r,g,b) as “Bottom”, 0 as “zero line”, pctile/100 as “Top Percentile Threshold”, pctileB/100 as “Bottom Percentile Threshold”, midpctile/100 as “Warning Top Percentile Threshold”, (midpctile*-1)/100 as “Warning Bottom Percentile Threshold”

  9. Denis • 02/23/2016 #

    Here we are !

    //coloring histogram
    if pctRankT>=pctile/100 then
    r=255
    g=0
    b=0
    else
    r=204
    g=204
    b=204
    endif

    if pctRankB<=pctileB/100 then
    rr=0
    gg=255
    bb=0
    else
    rr=204
    gg=204
    bb=204
    endif
    endif

    RETURN pctRankT coloured (r,g,b) as "Top", pctRankB coloured (rr,gg,bb) as "Bottom", 0 as "zero line", pctile/100 as "Top Percentile Threshold", pctileB/100 as "Bottom Percentile Threshold", midpctile/100 as "Warning Top Percentile Threshold", (midpctile*-1)/100 as "Warning Bottom Percentile Threshold"

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