Aggregate Medians [wbburgin]

27 Nis 2023

This indicator recursively finds the average of all high/low medians under your chosen length. This can be very, very helpful for analyzing trends where a moving average or a normal median would produce a bunch of false signals.

Settings:
The "Length" setting is the maximum median that you want the algorithm to add into the sum. The "Start at Period" setting is the the minimum median that you want the algorithm to take into account. Starting at a higher period means that the faster, more sensitive medians of lower lengths are not included, and will smooth out your curve.

I haven't seen many recursive algorithms on TradingView so feel free to use this script as inspiration for any of your ideas. In theory, you can essentially replace the median function with any other function - a moving average, a supertrend, or anything else.
The start must be lower than the length, because this is a sum from the start to the length of all medians in between.