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    Percent of Resistance (PCR)
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      Percent of Resistance (PCR)

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        Article summary

        The Percent of Resistance (PCR) oscillator represents the resistance of a security as a percentage ratio. To calculate the ratio, PCR compares a security's closing price with its price range over a specified period of time. The PCR line oscillates on the 20 to +80 scale, where readings below 20 can be considered as a buy signal and the readings above 80 as a signal to sell.

        PCR = (Highest Highn - Today's Close) / (Highest Highn - Lowest Lown) * 100

        where:
        N – number of periods


        Percent of ResistancePercent of Resistance 


        INPUTS

        InputDescription
        LengthThe number of bars used to calculate PCR
        OverboughtThe price to fix the overbought level at
        OversoldThe price to fix the oversold level at

        PLOTS

        The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

        PlotDescription
        PORThe Percent of Resistance plot
        OverBoughtThe overbought level
        OverSoldThe oversold level
        Color

        Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

        Palette

        To create a custom color:

        1. Clickto open the color picker
        2. By using the slider at the bottom, adjust the main color
        3. Then, set a shade for the main color on the palette

        The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

        Weight
        Change the value (in px) to adjust the thickness of the plot.
        Type
        The following plot types are available:
        • Linear. The plot is displayed as a line.
        • Column. The plot is displayed as a histogram.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The plot is displayed as triangles above candles on the chart.
        • Color candle. The candles on candle-type charts are highlighted with specified colors.

        OVERLAYING

        Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

        Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE
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