Hi!

This indicator detects excess market moves. It is stated, that it “overcomes many of the downsides of traditional ones like RSI or Bollinger Bands”.
The magic: it only shows bullish or bearish excess trends for a chosen timeframe. No detection, no line.

How to use it:
“If the indicator tells me that there has been an excess bearish move, I will not set up a new short position. I neither would set up a long position if this sell off happened in a bearish market.
If there has been an excess bearish move in an uptrend, I might want to start to scale into a long position, using a tight stop loss at the beginning and the let it run until my indicator flashes a warning sign in the other direction.”

All the info:
https://www.quanttrader.com/index.php/detecting-excess-market-moves/KahlerPhilipp2021

Is it possible to translate this code? Many thanks!

Meta: subchart(false); // (c) Philipp Kahler 2021 quanttrader.com
Inputs: minBars(5), maxBars(200), reversaltype(longreversal, shortreversal, both),confirmationbars(1), Volaexcess(3);
Arrays: Mom[maxbars];
Variables: kv, kvp, i, m, signal, global::signal, extreme, position;

function kvol begin // returns Kahlers Volatility %/bar
	Variables:i, rp,rc, rpsum, rcsum, call, put, counter;
	if close[1]<>0 then begin
		rc=maxlist((close-close[1])/close[1],0); 
		rp=maxlist((close[1]-close)/close[1],0); 
	end;
	rcsum=rcsum+rc; 
	rpsum=rpsum+rp;
	if (rc+rp)>0 then counter=counter+1;
	if counter>1 then begin			
		call=rcsum/counter; 
		put=rpsum/counter;
	end;
	Kvol=100*(call+put);	
end;


kv=kvol;//period(10*maxbars);
signal=0;

if barnumber>200 then begin
	for i=maxBars to MinBars step -1 begin 
		kvp=kv*sqrt(i);
		m=100*(close-close[i])/close;
		mom[i]=abs(m)/kvp;
	end;
end;

extremesarray(mom,maxbars,1,extreme,position);

if extreme>volaexcess and position>minbars then begin
	if close[position]>close and (reversaltype=both or reversaltype=shortreversal)
		and lowest(close[-confirmationbars],confirmationbars)>=close 
		and close=lowest(close,position)
		and close[position]=highest(close,position+1)
		then begin
			drawtrendline(datetime,lowest(close,position),datetime[position],highest(close,position+1),stylesolid,2,red);
			signal=1;
		end;
	if close[position]<close and (reversaltype=both or reversaltype=longreversal)
		and highest(close[-confirmationbars],confirmationbars)<=close 
		and close=highest(close,position+1)
		and close[position]=lowest(close,position+1)
		then begin
			drawtrendline(datetime,highest(close,position),datetime[position],lowest(close,position+1),stylesolid,2,darkgreen);
			signal=-1;
		end;		
	end;

global::signal=signal[confirmationbars];

market-excess-detection.png