PR50 Auto

2024年11月17日

I have observed price revisits the 50% Percentile Rank of previous pivot highs and lows with in a decay window of up to 288 bars, but notably 144 bars in a rather systematic way. When watching price, lines will breakout out towards price. a good indicator price and line will meet at some point. Continuation of trends can be seen when price is rejected of previous high/low. Price will also bounce between structure high and low 50% PR.

I provide a this script to auto calculate and populate these lines. The default decay is set to 288, and transparency of lines are determined by the decay.

i provide a levels indicator to show the percentage of lines where price is above and below the start point of the lines at full decay and half. With defaults, 288 and 144 bars respectfully. it is not an indicator to buy or sell, but to demonstrate price is either above or below the distribution of lines.

2024年11月17日

版本注释

Fixed Color calculation

2024年11月17日

版本注释

Update chart

2024年11月23日

版本注释

Moved to Overlay Only.

• Moved to Overlay Only
  
• Highlights last to PR lines of structure. Price will return to one of these.
  

2024年11月25日

版本注释

Added some features. Test out and see if this helps a little. Spend some time watching how price behavior acts between levels.

• Active PR Band Coloring
  
• Option to use Close for PRs or the Lows for PivotLow PRs and Highs for PivotHigh PRs. I prefer the High/Low
  
• Slightly better table to reflect % of PRs below current close.