Consolidation Zones - Live

Hello Traders!

This is the script that finds Consolidation Zones in Realtime.

How it works?
- The script finds highest/lowest bars by using "Loopback Period"
- Then it calculates direction
- By using the direction and highest/lowest bar info it calculates consolidation zones in realtime
- If the length of consolidation area is equal/greater than user-defined min length then this area is shown as consolidation zone
- Then Consolidation Zone extends automatically if there is no breakout

if you increase the Loopback Length then you get bigger consolidation zones:

You have option to "Paint Consolidation Area" or not:

版本注释: Fixed: if new highest/lowest is in Consolidation zone then Consolidation Zone is extended
版本注释: Alerts added
从常用脚本中删除 添加到常用脚本
If you find my works useful, please consider a donation
BTC: 19qDW9AShZhBZsGuXcgRzam5Fbpc3EU8EV
ETH: 0x39c8552371b9b7f4e324197af460ba8bc8e18ef9

Earn $30


So crazy. I just wrote a script using the same idea. I didn't publish it because I'm not even sure it's all that good or worthwhile. Shoulda just waited a couple of weeks lol.
Great stuff man. Love your work
+7 回复
@kurtsmock, thank you ;)
+1 回复
Hi , can you make a multi time frame one plz ..
+6 回复
@Jannfaiz88, not easy and may have latency but when I have time I will try
+1 回复
Jannfaiz88 LonesomeTheBlue
@LonesomeTheBlue, Not an issue sir , all f ur scripts are awesome , looking forward for more .. Thank You!
+4 回复
Hi, Legend!))

just can't see where it's calculates for direction.. Recently found some trading system and now in search of such *decider*, confirmation whether it'll go up or down
+4 回复
@mrgr888n, according to highest/lowest bars it calculates direction
As many others comments as below. This is just great to understand the candlestick support and resistance. Appreciated your efforts and generous shared for us. Thank You LonesomeTheBlue <3
+3 回复
I Have to say this is great work, keeps the drawdown to a minimum. Thanks so much!!
+3 回复
Love this! Thank You!
+2 回复
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