ATR Screener with Labels and Shapes

Weekly Daily ATR Pine Scanner

To find out tightness or contraction in a stock we needs to check if volatality is decreasing as well as compared to previous 14 or 10 bars volatility . we check this for weekly and then for Daily , so that we can enter in a stock which is tightest in recent times.

Condition is :

1. Weekly Candle ATR x 0.8 < 10 Week ATR
2. Daily Candle ATR x 0.6 < 14 Day ATR

When both of the conditions are met then they signifies that the stock has tightened in weekly and daily aswell . so now we can find ways to enter during max squeeze.

How to scan in Pine Scanner ?
FIrst add indicator as favourite and Go to pine scanner page in trading view and then scan your watchlist and there you will see 3 columns 1 with only Weekly conditions met , 2 with only Daily and 3rd with Both conditions met .
Select stocks and move to new watchlist and now you have those stocks which has contracted the most in recent times .