OPEN-SOURCE SCRIPT

Short-Only Cycle Indicator

This script is a follow-up to my previous 60-day Cycle, Long-Only Indicator.

The "Short-Only Cycle Indicator" is designed to help traders navigate optimal shorting opportunities by analyzing cyclical price behavior over a defined period. It focuses on recognizing distribution phases (ideal for shorting) and accumulation phases (where shorting should be avoided). It should be used with assets that the trader has an existing thesis for downward price movement.

Key Features:
1. Cycle Length: The indicator uses a 60-day cycle to identify high and low points in price, which are then used to determine the current market phase.

2. Distribution Phase: When the price is near the cycle high, the indicator signals a distribution phase, indicating potential shorting opportunities.

3. Accumulation Phase: When the price is near the cycle low, the indicator signals an accumulation phase, advising traders to avoid shorting.

4. Short Signal: A short signal is triggered when the price crosses below the cycle high, which is visually marked on the chart for easy identification.

This indicator is particularly useful for traders who prefer a short-only strategy, as it helps them time their entries and avoid shorting during unfavorable market conditions.
Bands and ChannelsChart patternsCycles

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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