Custom PCF % True Indicator
The custom PCF % true indicator allows you to create an indicator that returns a value between 0 and 100 for the number of times a boolean (True/false) formula returned true over a specified number of bars
To add a custom PCF % true indicator to your chart click the add plot button
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You can also press the forward slash "/" key to open the add plot menu
Type PCF into the search bar
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Select Custom PCF % true Indicator from the list of available indicators
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This will plot the indicator on your chart and open the editor for that indicator
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By default the boolean formula used is Close "C" is greater than the previous Close "C1" and the period is set to 1. This means that the indicator can only return a value of 0 (Not true) or 100 (True). Let's change the period to 10 then click OK to apply the changes
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You can now see there are multiple values returned indicating the number of times over a rolling 10 bar period the boolean condition C>C1 returned true
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The value of 50 means that out of the latest 10 bars C>C1 returned true 5 times, the value of 60 means that at that point in time 6 of the last 10 bars returned true. For more information on creating PCF indicators please visit our PCF help index