Moving Median
This simple script was a collaborative effort with 4X4good.
It plots a moving median for the period using the 50th percentile value.
We wanted to know the median value of VIX but surprisingly, a median indicator wasn't yet available in the indicators library.
So we did a little research & put this together.
It plots a moving median for the period using the 50th percentile value.
We wanted to know the median value of VIX but surprisingly, a median indicator wasn't yet available in the indicators library.
So we did a little research & put this together.
//@version=2 // Moving Median // developed by dime & 4X4good - 09/04/2016 // Plots a moving median value for the period // by using the 50th percentile value // study(title="median", shorttitle="median", overlay=true, precision=0) length1 = input(20, minval=1, title="Period") median = percentile_nearest_rank (close,length1,50) //this returns the 50th percentile value //alternative function //level = percentile_linear_interpolation (close,length1,50) plot (median,color=lime, transp=0, linewidth=2 )