EMASpreadPrctiles
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
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact LiquidityTracker directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact LiquidityTracker directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.