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Indicators

Quantile Price Analysis - indicator for MetaTrader 4

Jas Wu
Published by:
I Kai Wu
Views:
5565
Rating:
(25)
Published:
2022.01.16 11:02
Updated:
2022.01.16 11:21
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Calculation is:

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Calculation is current close price minus the close price of the last N(default 30) period's defined X(default 60) upper quantile &

current close price minus the close price of the last N(default 30) period's defined X(default 40) lower quantile.

If both of these value(which are displayed in histograms) are above 0 then it is uptrend, vice versa for down trend, if one of them is > 0 and one of them is < 0, then it is ranging.

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There is also a high low mode in the inputs, Calculation is current High price minus the close price of the last N(default 30) period's defined X(default 60) upper quantile & current Low price minus the close price of the last N(default 30) period's defined X(default 40) lower quantile.

If both of these value(which are displayed in histograms) are above 0 then it is uptrend, vice versa for down trend, if one of them is > 0 and one of them is < 0, then it is ranging.

This method filters more ranging bars but also produces more lag.

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Green Block at the 0 level means uptrend, Orange Block at the 0 level means downtrend, Gray Block at the 0 level means Ranging.


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