Congestion Detector

NSE:IOC1D

INDIAN OIL CORPNSE

Description

⋅ Dec 25, 2018 3:29 PM

This script detects price action congestion. These congestions are marked on chart itself.

Comments

UnknownUnicorn6264620

⋅ Feb 5, 2021 1:52 AM

thank you very much!

shivamsuper49

⋅ Dec 14, 2020 10:33 AM

Very Nice

mosellemontreal

⋅ Jan 28, 2022 3:35 AM

Thanks Mr Sujayabawskar.. really good work there.

sujaybawaskar

⋅ Jan 29, 2021 5:37 AM

study(title = "Congestion Detector", overlay = true)

congestionCheck = ( close > low[1] and close < high[1]) and ( close[1] > low[2] and close[1] < high[2]) and ( close[2] > low[3] and close[2] < high[3])
bgcolor(color = congestionCheck? orange : na, transp=80)
bgcolor(color = congestionCheck? orange : na, transp=80, offset=-1)
bgcolor(color = congestionCheck? orange : na, transp=80, offset=-2)

CMFtest

⋅ Apr 1, 2022 9:17 AM

@sujaybawaskar,
edited and add bar colouring and converted to v5
```//@version=5
indicator(title='Congestion Detector', overlay=true)
congestionCheck = ( close > low[1] and close < high[1]) and ( close[1] > low[2] and close[1] < high[2]) and ( close[2] > low[3] and close[2] < high[3])

barcolor(congestionCheck ? color.orange : na)
barcolor(congestionCheck ? color.orange : na, offset=-1)
barcolor(congestionCheck ? color.orange : na, offset=-2)

bgcolor(congestionCheck ? color.orange : na, transp=80)
bgcolor(congestionCheck ? color.orange : na, offset=-1, transp=80)
bgcolor(congestionCheck ? color.orange : na, offset=-2, transp=80)```