PROTECTED SOURCE SCRIPT
Martingale like Emmons
4 red days in a row, 5th day go
This indicator identifies patterns of sustained negative momentum in price action by detecting when a stock has experienced 4 consecutive days of negative returns (i.e., the close of each day is lower than the previous day's close). Upon the occurrence of such a pattern, the indicator plots a rocketship emoji ("🚀") directly beneath the 5th bar as a visual cue.
The placement of the emoji can be customized using the Offset Distance Below Bar setting, allowing users to adjust how close or far below the bar the symbol appears on the chart. This tool is useful for traders looking to quickly spot periods of potential reversal or continued downward momentum.
This indicator identifies patterns of sustained negative momentum in price action by detecting when a stock has experienced 4 consecutive days of negative returns (i.e., the close of each day is lower than the previous day's close). Upon the occurrence of such a pattern, the indicator plots a rocketship emoji ("🚀") directly beneath the 5th bar as a visual cue.
The placement of the emoji can be customized using the Offset Distance Below Bar setting, allowing users to adjust how close or far below the bar the symbol appears on the chart. This tool is useful for traders looking to quickly spot periods of potential reversal or continued downward momentum.
Protected script
This script is published closed-source and you may privately use it freely.
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