OPEN-SOURCE SCRIPT
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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:
snapshot


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


Enjoy!
Notes de version
Fixed: if new highest/lowest is in Consolidation zone then Consolidation Zone is extended
Notes de version
Alerts added
Notes de version
transp removed
Notes de version
Color option added for the zone

Clause de non-responsabilité