OPEN-SOURCE SCRIPT
Tight Consolidation With Contracting Volume
1. Price is above EMA20 by 0-3%
2. EMA20 is above EMA50 by 1%-3%
3. Latest close is positive
4. Latest volume is lower than 20 day average by at least 30%
5. Show signal as an arrow below the candle
2. EMA20 is above EMA50 by 1%-3%
3. Latest close is positive
4. Latest volume is lower than 20 day average by at least 30%
5. Show signal as an arrow below the candle
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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