Percentile Trend Channel [DW]

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © DonovanWall

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// ------------------------------------------------------------------------------------------------
// Original author:  DonovanWall
// Original title:   Percentile Trend Channel [DW]
// Licence:          MPL-2.0 (the header above is the original notice, kept verbatim)
// Pine version:     4
// Fetched:          2026-10-12
// Ported to FloScript by FloSignals; modifications under MPL-2.0.
// Converter:        @flosignals/floscript 0.1.0, strict mode, score 100/100
// ------------------------------------------------------------------------------------------------
//@floscript=1
//@version=5
// Converted by the FloScript converter from a Pine-compatible v4 source.

indicator("Percentile Trend Channel [DW]", shorttitle="PTC [DW]", overlay=true)
//by Donovan Wall

//This is an experimental study designed to identify the trend of price action over a specified period using percentiles.

//First, the 50th percentile is calculated over the sampling period using the nearest rank method. I've found that this calculation is useful as a proxy for moving averages and other filters of that class.
//Next, the channel levels are calculated. In this study, there are three channel methods to choose from:
// -Percentile Donchian, which calculates Donchian Channels using the 100th and 0th percentile ranks
// -Percentile Keltner, which calculates the 50th percentile true range multiplied by a specified amount, then adds it to and subtracts it from the 50th percentile
// -Percentile Bollinger, which calculates 50th percentile standard deviation multiplied by a specified amount, then adds it to and subtracts it from the 50th percentile

//I also included a squeeze box option within this script, which is derived from my original Squeeze Box tool.
//This option detects squeezes in the specified channel's range by a specific percentage, and plots the channel values where the squeeze begins.
//The box also has a range multiplier, which can be used to expand or contract its range.

//Custom bar colors are included. The color scheme is based on the perceived trend over the specified sampling period.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Updates:

// -> Migrated to v4.
// -> Cleaned up calculations.
// -> Revamped color scheme.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Inputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Source
src = input(defval=close, title="Source")

//Sampling Periods
per = input.int(defval=14, minval=1, title="Sampling Period")

//Channel Type
ctype = input.string(defval="Percentile Donchian", options=["Percentile Donchian", "Percentile Keltner", "Percentile Bollinger"], title="Channel Type")

//Deviation & True Range Multiplier
ndev = input.int(defval=2, minval=0, title="Deviation & True Range Multiplier")

//Squeeze Channel
schan = input(defval=false, title="Enable Squeeze Box")

//Squeeze Percentage Threshold
sth = input.int(defval=50, minval=0, maxval=100, title="Squeeze Percentage Threshold")

//Box Range Multiplier
boxmult = input.float(defval=1, minval=0, step=0.001, title="Squeeze Range Multiplier")

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Definitions
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Rank Levels
midrank = ta.percentile_nearest_rank(src, per, 50)
highrank = ta.percentile_nearest_rank(src, per, 100)
lowrank = ta.percentile_nearest_rank(src, per, 0)

//Standard Deviation
devsq = math.pow(src - midrank, 2)
vari = ta.percentile_nearest_rank(devsq, per, 50)
stdev = math.sqrt(vari)

//Channel Type
h = ctype == "Percentile Donchian" ? highrank : ctype == "Percentile Keltner" ? midrank + ta.percentile_nearest_rank(ta.tr, per, 50) * ndev : midrank + stdev * ndev
l = ctype == "Percentile Donchian" ? lowrank : ctype == "Percentile Keltner" ? midrank - ta.percentile_nearest_rank(ta.tr, per, 50) * ndev : midrank - stdev * ndev

//Squeeze Box
maxrng = ta.highest(h, per) - ta.lowest(l, per)
currng = h - l
sqz = currng <= maxrng * (sth / 100) ? 1 : 0
sqh1 = ta.valuewhen(sqz[1] == 0 and sqz == 1, h, 0)
sql1 = ta.valuewhen(sqz[1] == 0 and sqz == 1, l, 0)
sqm = (sqh1 + sql1) / 2
sqd = (sqh1 - sql1) / 2
sqh = sqm + sqd * boxmult
sql = sqm - sqd * boxmult

//Conditions
bullsig1 = ctype == "Percentile Donchian" ? (h > h[1] ? 1 : 0) : src > h ? 1 : 0
bearsig1 = ctype == "Percentile Donchian" ? (l < l[1] ? 1 : 0) : src < l ? 1 : 0
bullsig2 = src >= sqh ? 1 : 0
bearsig2 = src <= sql ? 1 : 0
var bulltrend1 = 0.0
bulltrend1 := bullsig1 ? 1 : bearsig1 ? 0 : bulltrend1
var bulltrend2 = 0.0
bulltrend2 := bullsig2 ? 1 : bearsig2 ? 0 : bulltrend2
var beartrend1 = 0.0
beartrend1 := bearsig1 ? 1 : bullsig1 ? 0 : beartrend1
var beartrend2 = 0.0
beartrend2 := bearsig2 ? 1 : bullsig2 ? 0 : beartrend2
var mid_bull = 0.0
mid_bull := midrank > nz(midrank[1]) ? 1 : midrank < nz(midrank[1]) ? 0 : mid_bull
var mid_bear = 0.0
mid_bear := midrank < nz(midrank[1]) ? 1 : midrank > nz(midrank[1]) ? 0 : mid_bear

//Colors
mcolor = mid_bull ? #05ffa6 : mid_bear ? #ff0a70 : #cccccc
barcolor1 = bulltrend1 and src > midrank and src > nz(src[1]) ? #05ffa6 : bulltrend1 and src > midrank and src <= nz(src[1]) ? #017f52 : beartrend1 and src < midrank and src < nz(src[1]) ? #ff0a70 : beartrend1 and src < midrank and src >= nz(src[1]) ? #990040 : #cccccc
barcolor2 = bulltrend1 and bulltrend2 and src > midrank and src > nz(src[1]) and src > sqh ? #05ffa6 : bulltrend1 and bulltrend2 and src > midrank and src <= nz(src[1]) and src > sqh ? #017f52 : beartrend1 and beartrend2 and src < midrank and src < nz(src[1]) and src < sql ? #ff0a70 : beartrend1 and beartrend2 and src < midrank and src >= nz(src[1]) and src < sql ? #990040 : src <= sqh and src >= sql and bulltrend1 and src > nz(src[1]) and src > midrank ? #0afaff : src <= sqh and src >= sql and beartrend1 and src < nz(src[1]) and src < midrank ? #f00aff : #cccccc
barcolor = schan ? barcolor2 : barcolor1

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Outputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Mid Percentile
mplot = plot(midrank, color=color.new(mcolor, 0), linewidth=3, title="50th Percentile Line")

//Channel Levels
hplot = plot(h, color=color.new(#000000, 100), title="Channel High")
lplot = plot(l, color=color.new(#000000, 100), title="Channel Low")

//Squeeze Box Levels
sqhplot = plot(schan ? sqh : na, color=color.new(#cccccc, 100), title="Squeeze Box High")
sqlplot = plot(schan ? sql : na, color=color.new(#cccccc, 100), title="Squeeze Box Low")

//Fills
fill(sqhplot, sqlplot, color=color.new(#cccccc, 80), title="Squeeze Box Fill")
fill(hplot, lplot, color=color.new(#000000, 60), title="Channel Fill")

//Bar Color
barcolor(barcolor)

This file is under the Mozilla Public License 2.0; it is a port of the original by DonovanWall, with the original licence header kept and the changes made for FloScript noted in the file.

• v22026-10-14

  Library refresh 2026-10-14

• v12026-10-12

  Library refresh 2026-10-12