Percentage Indicator 10 Days

# 📊 PERCENTAGE INDICATOR 10 DAYS - TRADINGVIEW

**Created by: Alphaomega18**

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## 🎯 DESCRIPTION

This indicator positions the current price between **0%** and **100%** relative to the last 10 days.

### Calculation Formula:

1. **10-Day High** = The highest closing price of the last 10 days
2. **10-Day Low** = The lowest closing price of the last 10 days
3. **Range** = 10-Day High - 10-Day Low
4. **Variation** = 10-Day High - Current closing price
5. **Percentage** = (Variation ÷ Range) × 100

### Interpretation:

- **100%** (top) → Current price = 10-day High (high position)
- **50%** → Current price is in the middle of the range
- **0%** (bottom) → Current price = 10-day Low (low position)

⚠️ **Important**: The indicator never goes below 0% and never rises above 100%.

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## 🎨 VISUAL CHARACTERISTICS

### Reference lines:
- **Black line at 100%** (bottom): Position at 10-day high
- **Black line at 0%** (top): Position at 10-day low
- **Gray line at 50%** (median): Center position
- **Dotted lines at 5% and 95%**: Additional graduations

### Colors:
- 🟢 **Green**: Percentage > 50% (close to high)
- 🔴 **Red**: Percentage < 50% (close to low)

### Colored zones:
- **Green zone** (> 70%): Relative strength zone
- **Red zone** (< 30%): Relative weakness zone

### Visual signals:
- 🟢 **Green arrow ▲ "BUY"**: Automatic buy signal when 3 conditions are met
- Appears at the bottom of the chart
- Indicates a potential entry point
- Automatic alert available

### Information table:
A table at the top right displays:
- 10-Day High
- 10-Day Low
- Range
- Variation
- Current Percentage

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## 💡 HOW TO USE IT

### Trading signals:

#### 📈 Potential buy signals:
- **Percentage < 20%**: Price is close to the 10-day low
→ Potential technical bounce
- **Percentage reaches 0%**: Price touches the low
→ Extreme oversold zone
- **Percentage near 5%**: Oversold alert zone

#### 📉 Potential sell signals:
- **Percentage > 80%**: Price is close to the 10-day high
→ Potential technical correction
- **Percentage reaches 100%**: Price touches the high
→ Extreme overbought zone
- **Percentage near 95%**: Overbought alert zone

### Practical examples:

**Example 1: GOLD**
- Percentage at 15% → Gold is close to its 10-day low
- Signal: Potential support, watch for a buy

**Example 2: CRUDE OIL**
- Percentage at 85% → Oil is close to its 10-day high
- Signal: Potential resistance, watch for profit-taking

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## 🎯 AUTOMATIC BUY SIGNAL (GREEN ARROW)

The indicator displays a **green arrow ▲** with the text "BUY" when **all 3 conditions** are met:

### The 3 mandatory conditions:

1️⃣ **%R reaches 100%**
- Price touches or exceeds the 10-day high

2️⃣ **5 days have elapsed** since the 100% level was reached
- The indicator counts 5 bars (days) since 100% was touched
- This period confirms consolidation at the high

3️⃣ **%R falls back below 95%**
- After waiting 5 days at 100%, %R drops below 95%
- This indicates the beginning of a price decline

### Signal interpretation:

✅ **Valid buy signal**: Green arrow ▲ appears
- Price touched a high (100%)
- The high held for at least 5 days (consolidation)
- Price begins to decline (crossing below 95%)
- → **Confirmed reversal potential for buying on the dip**

### Chronological example:
```
Day 1 : %R = 100% (price touches 10-day high)
Day 2 : %R = 100% (stays at high)
Day 3 : %R = 100% (consolidation)
Day 4 : %R = 100% (consolidation)
Day 5 : %R = 100% (consolidation - 5 days elapsed)
Day 6 : %R = 94% → 🟢 GREEN ARROW APPEARS = BUY SIGNAL
```

### Signal advantages:

✅ **Avoids false signals**: Waits for 5-day consolidation
✅ **Confirms reversal**: Price must actually decline (below 95%)
✅ **Precise entry point**: Clear and unambiguous signal
✅ **Automatic alert**: Immediate notification when conditions are met

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## 🔔 AVAILABLE ALERTS

The indicator includes automatic alerts:

### Create an alert:
1. Click on **"Alert"** (⏰)
2. Condition: **"Percentage Indicator 10 Days"**
3. Choose:
- **"Oversold Zone"**: Alert when percentage < 20%
- **"Overbought Zone"**: Alert when percentage > 80%
- **"Buy Signal"**: ⭐ Alert when all 3 conditions are met for a buy signal

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## ⚙️ PARAMETERS

- **Calculation Period**: Default 10 days (adjustable)
- Increase for more smoothing (15, 20 days)
- Decrease for more reactivity (5, 7 days)

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## 📊 RECOMMENDED STRATEGY

### Mean reversion strategy:

1. **Wait** for percentage to reach extreme zones:
- Low zone (< 20%) to buy
- High zone (> 80%) to sell

2. **Confirm** with other indicators:
- RSI
- Volume
- Support/Resistance

3. **Place** a stop-loss outside the 10-day range

### Trade example:
```
Entry: Percentage at 10% (close to low)
Stop Loss: Below 10-day low
Take Profit: Percentage returns to 50% or higher
```

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## 🔍 RECOMMENDED COMMODITIES

Particularly effective on:
- **Gold** (GOLD)
- **Silver** (SILVER)
- **Crude Oil WTI** (CRUDE OIL)
- **Brent Oil** (BRENT)
- **Natural Gas** (NATURAL GAS)
- **Copper** (COPPER)
- **Precious metals**

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## ⚠️ WARNINGS

- ⚠️ This indicator shows the **relative position** of price, not future direction
- ⚠️ A price at 0% can continue to fall (new low)
- ⚠️ A price at 100% can continue to rise (new high)
- ⚠️ The indicator always stays **between 0% and 100%** (no negative values or >100%)
- ⚠️ **Always** combine with other analyses
- ⚠️ **Never** trade on a single indicator alone

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## 🛠️ RECOMMENDED COMBINATIONS

Use this indicator with:

1. **RSI**: Confirm oversold/overbought conditions
2. **MACD**: Confirm the trend
3. **Volume**: Validate movement strength
4. **Support/Resistance**: Identify key zones
5. **Bollinger Bands**: Measure volatility

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## 📝 TECHNICAL NOTES

- **Version**: Pine Script v5
- **Type**: Indicator (separate panel)
- **Scale**: Always between 0% and 100%
- **Update**: Real-time

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## 📖 READING EXAMPLE

```
10-Day High: 2700
10-Day Low: 2600
Current Price: 2650

Range = 2700 - 2600 = 100
Variation = 2700 - 2650 = 50
Percentage = (50 ÷ 100) × 100 = 50%

→ Price is exactly in the middle of the 10-day range
```

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**Happy Trading! 🚀**

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**© Alphaomega18** - Percentage Indicator 10 Days