ranges of , as this can greatly impact your performance. For instance, some of my long-only mean reversion strategies will only take trades where the percentile is not extremely high, as this can often indicate fundamental changes in the security or the start of a big market correction. Some strategies may work better when is higher
Feel free to use the following code along with your strategies to help improve performance and reduce the of your gains in the long term.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.