Percentiles are one of the foundational ideas of statistical analysis.  This indicator provides clear and simple display of the percentile location of just about any calculation.

Is a range narrow or wide?   Is a value high or low?  To ask questions such as these is to ask implicitly "Compared to what?".   Percentile evaluations give you the answer compared to a set of previous observations of the same value.  (The size of the set is up to you.)

Suppose the YM is presenting a body range of 3 points on a given day.  This may seem small intuitively, but how small is small?  How's this for an answer:  "So small that only 7 out of the last 100 observations were smaller."   Now that's information you can use!

The corresponding question on the high side would be "How large is large?".  What better answer could you have than "So large that 19 out of 20 of the last 100 observations were smaller."  (This is the 95th %tile.)

Percentile rankings can provide you an excellent, statistically sound notion of what is "normal", what is "unusually high" and what is "unusually low".

This indicator uses the advanced Gradient Color capabilities of TradeStation 8.1 (Build 2967 or later required) to present a display that draws your eye directly to extremes, whether they be uncommonly high, or uncommonly low.  By default, the extremes are shown in full intensity color, while values near the middle of the percentile range are "washed out".

The indicator allows you to use the same color for both extremes, or use a different color for high vs. low extreme.

The indicator also provides commentary on each bar to give you insight into the derivation of the percentile ranking.  The commentary allows you to see the minimum and maximum values observed over the sample period so you can expand your mental picture of the range of variability of the calculation you are measuring.

What It Looks Like

What You Get

The #P_Flex%tile indicator (full source code).

A demo workspace containing a preconfigured Chart and RadarScreen (same as shown above).

Customer Support needed to get it all running.

What It Does

This indicator allows you to supply any valid calculation or function call as an input and it will calculate and display the bar-by-bar percentile ranking of the resultant value.  You are also able to provide your own descriptive name for the results so you can create a display that is immediately meaningful for you!

How It Works

This indicator provides historical or real-time percentile ranking using the supplied custom function .  This function, PercentileThisVal.p2(),  takes advantage of ADE technology to perform a very fast (fast enough for real-time) percentile ranking of the specified calculation.

The indicator then plots the percentile ranking using the advanced Gradient Color capabilities of TradeStation 8.1.

The number of observations used for the percentile ranking is specified by the user, so that you may choose to rank over relatively recent observations only, or over a large number of historical observations deeper back into time.

A special design feature of the indicator is that you may choose to rank the calculation against a different series of observations than it's own past history.  (Let your imagination roam ...)

What It Costs

$200 saves you all the time, effort, and testing you'd have to expend to create this yourself.

How You Get It

This package will be emailed to you after your PayPal payment is processed. Please be aware of the caveats before you order.