Quantile Price Analysis - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

Calculated as:

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The calculation result is the current closing price minus the closing price of the upper quantile of X (default 60) defined in the last N (default 30) periods &

The current closing price minus the closing price of the X (default 40) lower quantile defined in the last N (default 30) periods.

If both values ​​(displayed as a histogram) are above 0, it is an uptrend, otherwise it is a downtrend, and if one of them > 0 and one of them < 0, it is a range-bound trend.

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There is also a high-low mode in the input, which is calculated as the current highest price minus the closing price of the upper quantile of X (default 60) defined by the last N (default 30) periods and the current lowest price minus the closing price of the lower quantile of

If both values ​​(displayed as a histogram) are above 0, it is an uptrend, otherwise it is a downtrend, and if one of them > 0 and one of them < 0, it is a range-bound trend.

This method filters more range bars, but also creates more lag.

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A green block at 0 level represents an uptrend, an orange block at 0 level represents a downtrend, and a gray block at 0 level represents volatility.

Attachment download

📎quantile_price_analysis.mq4 (5.29 KB)

Source: MQL5 #37844