This is a trading item or a component that was created using QuantShare by one of our members.
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This function uses the percent rank and moving average indicators in addition to the close, high, and low series to generate an oscillator that is bounded between 0 and 100.
Here is how the calculation of this technical indicator is performed:
First, it calculates the close relatively to the high/low range
Then it applies to it a simple moving average
Finally, it takes the percent rank over N-previous bar to generate an oscillator
The percent rank indicator is available in the Quant-Share sharing server: Percentile - Percent Rank of a Trading Indicator. It takes a value and then normalizes it based on the historical distribution of the N-previous values.
Here is my interpretation of the CloseHL Percent Rank Oscillator based on some quantitative analysis I have performed:
Buy when the oscillator is lower than 50 and sell the position when it becomes higher than 50
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
