EMASpreadPrctiles — Indicator by LiquidityTracker

ema

EMA Spread Percentiles:
Author: Andrew Palladino
Date: 2/25/2017

Description:
The indicator will alert the trader when the difference in pips between an EMA of period N and close price is reaching extremes.
There are three extreme thresholds:
Green Threshold: When spread is above 95th percentile of the last X bars a vertical green line is displayed. Only 5% of the time the spread will exceed this threshold.

Yellow Threshold: When spread is above 97th percentile of the last X bars a vertical yellow line is displayed. Only 3% of the time the spread will exceed this threshold.

Red Threshold: When spread is above 99th percentile of the last X bars a vertical red line is displayed. Only 1% of the time within the past X bars the spread will exceed this threshold.

The trader can modify the following:
EMA Period (Default = 200)
Bars Back Lookback period for percentile calculation (Default = 500)
Green Percentile Threshold (Default = 95)
Yellow Percentile Threshold (Default = 97)
Red Percentile Threshold (Default = 99)

Invite-only script

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