OPEN-SOURCE SCRIPT
已更新 Leledc Exhaustion V4
This is one of my fav script (Leledec Exhaustion). The original script was written in V2 by Glaz here 
All I did is to convert this to Version 4 of Pine Scripting language.
An Exhaustion Bar is a bar which signals the exhaustion of the trend in the current direction. In other words, an exhaustion bar is “A bar of the last seller” in case of a downtrend and “A bar of
last buyer” in case of an uptrend.
Having said that when a party cannot take the price further in their direction, naturally the other party comes in, takes charge and reverses the direction of the trend.
The Psychology
Let's assume that we have a group of people, say 100 people who decide to go for a casual running. After running for a few KM's few of them will say “I am exhausted. I cannot run further”. They will quit running. After running further, another bunch of runners will say “I am exhausted. I can’t run further” and they also will quit running. This goes on and on and then there will be a stage where only a few will be left in the running. Now a stage will come where the last person left in the running will say “ am exhausted” and he stops running. That means no one is left now in the
running. This means all are exhausted in the running.
The same way an exhaustion bar works. The reason is an exhaustion bar sometimes formed at almost tops and bottoms.
Timeframe
The exhaustion bars are found on all Time frames as a trend also exists on all Timeframes. However, as a thumb rule “Higher the Time frame, higher will be the accuracy as well as the profitability”.
Trading the Leledec Exhaustion Bars
All I did is to convert this to Version 4 of Pine Scripting language.
An Exhaustion Bar is a bar which signals the exhaustion of the trend in the current direction. In other words, an exhaustion bar is “A bar of the last seller” in case of a downtrend and “A bar of
last buyer” in case of an uptrend.
Having said that when a party cannot take the price further in their direction, naturally the other party comes in, takes charge and reverses the direction of the trend.
The Psychology
Let's assume that we have a group of people, say 100 people who decide to go for a casual running. After running for a few KM's few of them will say “I am exhausted. I cannot run further”. They will quit running. After running further, another bunch of runners will say “I am exhausted. I can’t run further” and they also will quit running. This goes on and on and then there will be a stage where only a few will be left in the running. Now a stage will come where the last person left in the running will say “ am exhausted” and he stops running. That means no one is left now in the
running. This means all are exhausted in the running.
The same way an exhaustion bar works. The reason is an exhaustion bar sometimes formed at almost tops and bottoms.
Timeframe
The exhaustion bars are found on all Time frames as a trend also exists on all Timeframes. However, as a thumb rule “Higher the Time frame, higher will be the accuracy as well as the profitability”.
Trading the Leledec Exhaustion Bars
- I may trade as soon as it is shown on the chart.
- I may trade when price breaks the high/low of the bar depending on whether I am getting bullish or bearish signal
- I may trade when price breaks the high/low of the bar depending on whether I am getting bullish or bearish signal. I may also be looking to ensure the current volume is higher than the previous few
(? how many?) bar volumes.
版本注释
Added minor leledec and ability to add alerts版本注释
Ensuring abilities to hide or show min leledec as it is not widely used in crypto. Maj Leledec is more useful for crypto/bitcoin版本注释
Providing a clear alert message版本注释
Updated to V5开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
For guides on how to use the Aladdin indicator or how to buy it, please check joy-bangla.gitbook.io/aladdin/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
For guides on how to use the Aladdin indicator or how to buy it, please check joy-bangla.gitbook.io/aladdin/
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。