This script looks at times where MACD is within a specified range (very close to 0 values) and price action is very constrained (under 2%). Historically price has made a strong move after these conditions.
I typically run this on an 8H timeframe.
Review on BTCUSD and other cryptos.
Phát hành các Ghi chú
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Increased the 'Price bar back' range (for lower timeframes). Made price threshold input a %
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Updated script example snapshot
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Added alert condition + video tutorial for tuning:
this is a great idea! I was looking for similar indications on my charts. Right now script is not working for lower time-frames. Could you please make the script keeping 5 min - 15 min time frame in mind?
Thanks in advance
sydneyshan
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@msir2762, Check out the video on how to 'tune' the indicator for the asset / timeframe you're intending on trading here: youtube.com/watch?v=XUUJw5uCXe8 At some point in time I may refine this to automatically detect what the asset's low volatility range is using ATR or some such.
msir2762
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@sydneyshan, yes sir. It would be great if you can automate it. Currently, for each stock I need to manually tune the parameters which is difficult to do. But Thanks for the reply
mycotoxin
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HI thanks a lot , I loaded the script but dont see anything different can I use this to check past explosive value s?
sydneyshan
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@mycotoxin, yes - try the 8H timeframe on ETHBTC on Bitfinex of BTCUSD 8H through 2014-2017
Thanks in advance