OPEN-SOURCE SCRIPT
Actualizado Percentile Context [RC Tools]
RC Tools — Percentile Context
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█ OVERVIEW
Not "is RSI over 70" — "where does today's reading actually sit in its own history?" This tool takes a metric of your choice (realised volatility, RSI, volume, rate of change, or any custom source you plug in) and ranks it as a percentile against its own trailing distribution. It's the statistical primitive underneath most technical analysis, made explicit instead of buried in a fixed threshold.
█ WHAT IT DOES
Plots a 0–100 percentile-rank line for the selected metric, flags "extreme" zones (default: below the 10th percentile or above the 90th), and shows a stats table with the current value, current percentile, all-time min/max seen on the chart, and how many bars it's been since the metric last hit either extreme.
█ THE THEORY BEHIND IT
Fixed thresholds ("RSI > 70 = overbought") assume a metric's meaningful range never changes. It does — across assets, and across time on the same asset. A percentile rank fixes this by asking a relative question instead of an absolute one: given everything this metric has done over its own trailing window, how unusual is today's reading? This is the same idea underneath the Regime Classifier's volatility-state measure, generalised to any metric.
█ HOW IT IS CALCULATED
The selected metric is computed per bar:
• Realised Volatility: stdev(log(close/close[1]), N)
• RSI: standard Wilder RSI
• Volume: raw bar volume
• Rate of Change %: (close − close[N]) / close[N] × 100
• Custom Source: whatever series you plug into the source input (e.g. another indicator's plot)
The metric is then percentile-ranked against its own trailing window (default 750 bars ≈ 3 years on daily): what percentage of the last N readings were below today's value. Display values update ONLY on confirmed bar close — nothing here repaints.
█ SETTINGS & CONFIGURATION
• Metric (default Realised Volatility) — what gets ranked
• Custom Source — only used when Metric = Custom Source
• Realised Volatility / RSI / Rate of Change lookbacks (defaults 20 / 14 / 20)
• Percentile Ranking Window (default 750 bars) — longer = more stable, needs more history
• Low / High Extreme Thresholds (default 10 / 90)
• Paint Main Chart Background — off by default to avoid clashing with the Regime Classifier's background if you run both at once
█ HOW TO USE IT
Use it to calibrate how seriously to take a "normal" indicator reading. Example: RSI at 75 means something different on a stock that's rarely above 60 than on one that regularly touches 85 — the percentile rank makes that comparison explicit for the SAME asset over time. Also useful for volatility context ahead of position sizing: current realised vol at the 95th percentile is a different risk environment than the same absolute vol reading at the 40th percentile.
Works on any asset and timeframe with sufficient history for the percentile window.
█ LIMITATIONS
• Percentile rank describes the past relative to itself — it says nothing about direction or what happens next. A metric at its 99th percentile can stay there.
• Needs substantial history for a stable ranking. On short-history assets, treat the percentile as unreliable.
• "Extreme" is relative to the metric's OWN range. A percentile extreme on a low-volatility asset is not directly comparable in absolute terms to one on a high-volatility asset — that's the point of the tool, but it means percentiles aren't comparable across symbols.
• All-time min/max and "bars since" stats are only as long as the chart's available history, not a fixed universal record.
• This script does NOT repaint. Display values update on confirmed bar close only.
█ DISCLAIMER
For educational and informational purposes only. Nothing here is financial advice. Past behaviour of any metric does not indicate future results. Trade at your own risk.
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█ OVERVIEW
Not "is RSI over 70" — "where does today's reading actually sit in its own history?" This tool takes a metric of your choice (realised volatility, RSI, volume, rate of change, or any custom source you plug in) and ranks it as a percentile against its own trailing distribution. It's the statistical primitive underneath most technical analysis, made explicit instead of buried in a fixed threshold.
█ WHAT IT DOES
Plots a 0–100 percentile-rank line for the selected metric, flags "extreme" zones (default: below the 10th percentile or above the 90th), and shows a stats table with the current value, current percentile, all-time min/max seen on the chart, and how many bars it's been since the metric last hit either extreme.
█ THE THEORY BEHIND IT
Fixed thresholds ("RSI > 70 = overbought") assume a metric's meaningful range never changes. It does — across assets, and across time on the same asset. A percentile rank fixes this by asking a relative question instead of an absolute one: given everything this metric has done over its own trailing window, how unusual is today's reading? This is the same idea underneath the Regime Classifier's volatility-state measure, generalised to any metric.
█ HOW IT IS CALCULATED
The selected metric is computed per bar:
• Realised Volatility: stdev(log(close/close[1]), N)
• RSI: standard Wilder RSI
• Volume: raw bar volume
• Rate of Change %: (close − close[N]) / close[N] × 100
• Custom Source: whatever series you plug into the source input (e.g. another indicator's plot)
The metric is then percentile-ranked against its own trailing window (default 750 bars ≈ 3 years on daily): what percentage of the last N readings were below today's value. Display values update ONLY on confirmed bar close — nothing here repaints.
█ SETTINGS & CONFIGURATION
• Metric (default Realised Volatility) — what gets ranked
• Custom Source — only used when Metric = Custom Source
• Realised Volatility / RSI / Rate of Change lookbacks (defaults 20 / 14 / 20)
• Percentile Ranking Window (default 750 bars) — longer = more stable, needs more history
• Low / High Extreme Thresholds (default 10 / 90)
• Paint Main Chart Background — off by default to avoid clashing with the Regime Classifier's background if you run both at once
█ HOW TO USE IT
Use it to calibrate how seriously to take a "normal" indicator reading. Example: RSI at 75 means something different on a stock that's rarely above 60 than on one that regularly touches 85 — the percentile rank makes that comparison explicit for the SAME asset over time. Also useful for volatility context ahead of position sizing: current realised vol at the 95th percentile is a different risk environment than the same absolute vol reading at the 40th percentile.
Works on any asset and timeframe with sufficient history for the percentile window.
█ LIMITATIONS
• Percentile rank describes the past relative to itself — it says nothing about direction or what happens next. A metric at its 99th percentile can stay there.
• Needs substantial history for a stable ranking. On short-history assets, treat the percentile as unreliable.
• "Extreme" is relative to the metric's OWN range. A percentile extreme on a low-volatility asset is not directly comparable in absolute terms to one on a high-volatility asset — that's the point of the tool, but it means percentiles aren't comparable across symbols.
• All-time min/max and "bars since" stats are only as long as the chart's available history, not a fixed universal record.
• This script does NOT repaint. Display values update on confirmed bar close only.
█ DISCLAIMER
For educational and informational purposes only. Nothing here is financial advice. Past behaviour of any metric does not indicate future results. Trade at your own risk.
Notas de prensa
Minor code cleaning adjustments.Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.