Percentile Close Position Oscillator (PCPO)

Ranks the current close within the recent closes over a user-defined lookback window, outputting a percentile from 0 to 100. Values near 0 indicate the close is at the low extreme of recent distribution (potential support/oversold), near 100 indicate the high extreme (potential resistance/overbought). Useful for intraday Forex on 5m-30m timeframes during London and New York sessions.

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Inputs

Outputs / plots

Latest changelog

Initial release.

Version history

let closes = src("close")
let len_closes = len
let rank = percentrank(closes, len_closes)
let pcpo = rank * 100
plot("pcpo", pcpo)
event("overbought", pcpo >= overbought_threshold)
event("oversold", pcpo <= oversold_threshold)

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