OPEN-SOURCE SCRIPT

CM_Laguerre PPO PercentileRank - Markets Topping

Custom Code that Finds Market Tops!!!

CM_Laguerre PPO PercentileRank - Markets Topping

Original Laguerre PPO code was Created by TheLark.

I found if I applied a Percent Rank of the PPO to view Extreme Moves in the PPO it was great at showing Market Tops.

Features via Inputs Tab:
Ability to set all PPO Indicator Values.
Ability to set Warning Threshold Line Value and Extreme Percentile Threshold Line Values.
Ability to turn On/Off Warning and Extreme Percentile Rank Lines.

***I’ve found this Indicator to be Valid…However, I have NOT Extensively tested the Settings. Initially setting the LookBack Period to 200 on A Daily chart with a 90 Extreme Percentile Rank Value works Good. Some charts changing the Lookback period to 50 an draisisng the Extreme Percentile Rank Line to 95 Works Great.

***To Be Blunt…When I look at the underlying Indicator…I don’t know why this Shows Us What It Does When the Percentile Rank Function is applied to it…But For Whatever Reason…It Just Works.

***If you Find Very Useful Settings Please Post Below

Other Indicators That Show Market Bottoms Well.

CM ATR PERCENTILERANK - GREAT FOR SHOWING MARKET BOTTOMS!
tradingview.com/v/2RhmbBnD/

GREAT CONFIRMING INDICATOR FOR THE WILLIAMS VIX FIX
tradingview.com/v/bxaCH5Hx/

TWO TRADING SYSTEMS - BASED ON EXTREME MOVES!!!
tradingview.com/v/JsSRmpBa/

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