//@version=4
//@author=© Alexter6277
study(title="Price Density (Market Noise) by Alejandro P", shorttitle="Price Density - AP", overlay=false, precision=2, resolution="")
PDLength = input(14, minval=1, title="Price Density Length")
UseRelative = input(false,"Use Relative Price Density Calculations", tooltip="By selecting to use Relaive Calcualtions the script will take the values of the indicator and stack them in a percentile rank. This allows to show the reltive noise vs the past X candles instead of absolute noise.",group="Relative / Percentile Ranked")
EvalPeriod = input(200, minval=1, title="# of Bars to Calculate Price Density Percent",group="Relative / Percentile Ranked")
ExtremeLevel = input(95.0, minval=0, maxval=100, title="Price Density % Extreme Level",group="Relative / Percentile Ranked") 
HighLevel = input(50.0, minval=0, maxval=100, title="Price Density % High Level",group="Relative / Percentile Ranked")
LowLevel = input(25.0, minval=0, maxval=100, title="Price Density % Low Level",group="Relative / Percentile Ranked")

// Relative ATR Percent Function
PriceDensity (Length) =>
    PD = sum(atr(1),Length)/(highest(high,Length)-lowest(low,Length))
    PD

PDPercent (PDLen,RelLen) =>
    PD = PriceDensity (PDLen)
    PDP = percentrank(PD,RelLen)
    PDP

RelPD = PDPercent(PDLength,EvalPeriod)

clr = RelPD >= ExtremeLevel ? color.purple : RelPD >= HighLevel ? color.green : RelPD >= LowLevel ? color.blue : color.red

plot(UseRelative?RelPD:PriceDensity (PDLength), "Price Density",style= UseRelative?plot.style_columns:plot.style_line ,color = UseRelative?clr:color.blue)