Moving Median TPO

When calculating the statistical median, 50% of all observed prices are higher and 50% are lower than the median itself. Rather than simply referencing the close value of the last N bars, this indicator references the entire price range of the bar, i.e. the time price opportunities (TPO).

Indicator Description

We thereby arrive at the moving median TPO, referencing each price point of the bars in the lookback period according to the statistical median calculation.

The indicator is available for NinjaTrader 8.