Consolidation Zones - Live

highest

Lowest

Cryptocurrency

Created: 2022-05-24 11:43:02

Last modified: 4 years ago

Copy: 9

ChaoZhang

1781

Followers

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

backtest

Source

Pine

/*backtest
start: 2022-04-23 00:00:00
end: 2022-05-22 23:59:00
period: 45m
basePeriod: 5m
exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}]
*/

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © LonesomeTheBlue

//@version=4

Strategy parameters

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Consolidation Zones - Live

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