OPEN-SOURCE SCRIPT
Percentile Momentum Indicator
Input Parameters:
lengthPercentile: Defines the period used to calculate the percentile values (default: 30).
lengthMomentum: Defines the period for calculating the Rate of Change (ROC) momentum (default: 10).
Core Logic:
Rate of Change (ROC): The script calculates the ROC of the closing price over the specified period (lengthMomentum).
Percentile Calculations: The script calculates two key percentiles:
percentile_upper (80th percentile of the high prices)
percentile_lower (20th percentile of the low prices)
Percentile Average: An average of the upper and lower percentiles is calculated (avg_percentile).
Trade Signals:
Buy Signal: Triggered when the ROC is positive, the close is above the percentile_lower, and the close is above the avg_percentile.
Sell Signal: Triggered when the ROC is negative, the close is below the percentile_upper, and the close is below the avg_percentile.
Trade State Management:
The script uses a binary state: 1 for long (buy) and -1 for short (sell).
The trade state is updated based on buy or sell signals.
Bar Coloring:
Bars are colored dynamically based on the trade state:
Green for long (buy signal).
Red for short (sell signal).
The same color is applied to the percentile and average percentile lines for visual consistency.
lengthPercentile: Defines the period used to calculate the percentile values (default: 30).
lengthMomentum: Defines the period for calculating the Rate of Change (ROC) momentum (default: 10).
Core Logic:
Rate of Change (ROC): The script calculates the ROC of the closing price over the specified period (lengthMomentum).
Percentile Calculations: The script calculates two key percentiles:
percentile_upper (80th percentile of the high prices)
percentile_lower (20th percentile of the low prices)
Percentile Average: An average of the upper and lower percentiles is calculated (avg_percentile).
Trade Signals:
Buy Signal: Triggered when the ROC is positive, the close is above the percentile_lower, and the close is above the avg_percentile.
Sell Signal: Triggered when the ROC is negative, the close is below the percentile_upper, and the close is below the avg_percentile.
Trade State Management:
The script uses a binary state: 1 for long (buy) and -1 for short (sell).
The trade state is updated based on buy or sell signals.
Bar Coloring:
Bars are colored dynamically based on the trade state:
Green for long (buy signal).
Red for short (sell signal).
The same color is applied to the percentile and average percentile lines for visual consistency.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。