Does anyone have a JPercentile indicator for MT4 or know where I can find the formula behind the indicator. I'm currently searching and nothing of use is coming up.

Thanks,

Mookfx

So here is what I've found since posting yesterday and an image included:


JPercentile (20%): Price is valued as a percentile, measured against the last 21 days (roughly 1 month of trading) for intermediate tops and 52 weeks (1 year) for major tops. Probability increases that the pair is nearing a short term top when the JPC indicator reads 100%. A reading of 0% indicates the potential for a bottom. Every top has a reading of 100% but not every reading of 100% is a top. Besides the percent reading we also need to see a turn out of the extreme level (ie. If it reaches 100%, we need to have it pointing downwards and vice versa) to determine whether this is a top or bottom. The box is only checked when we see a turn off of extreme levels in the JPercentile reading.

Does anyone have it?

Mookfx

Attached Images

USDCAD_jpercentile.gif (25.3 KB, 376 views)

Hi Mookfx,

I spoke with FXCM Live Chat this evening and asked about this indicator. They said to access live account holders that will have this indicator included as for a free.

I heard it is very helpful tool in trading.

SavvyTrader

Cheers, thanks for the post.

Mookfx

No formula?

Seems a modified Williams R%.

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