OPEN-SOURCE SCRIPT
Congestionautilus
Congestions are formations in which a series of candlesticks opens and closes within the lows and highs of the candlestick that generated the congestion.
To be considered as such, congestion must have the main candle and at least three following candles with the body contained in the range.
Congestion is considered closed when a candle closes outside the indicated range.
Congestions, even if closed, can still act as points of interest in future movements, they are zones of interest for the price that can be re-crossed or act as support or resistance.
Using them can help in reading the dynamics of the price.
This indicator helps to quickly identify congestion and projects the area of the last congestion into the future.
To be considered as such, congestion must have the main candle and at least three following candles with the body contained in the range.
Congestion is considered closed when a candle closes outside the indicated range.
Congestions, even if closed, can still act as points of interest in future movements, they are zones of interest for the price that can be re-crossed or act as support or resistance.
Using them can help in reading the dynamics of the price.
This indicator helps to quickly identify congestion and projects the area of the last congestion into the future.
Script open-source
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