This is a simple script that can be used to alerts. The signal1 variable goes to 100 if there is a 1% up move in a tick, and goes to -100 if there is a 1% down move in a tick for an asset. This is best on a 1 minute or 5 minute chart.
This example shows this on the DeFi exchange Uniswap for the UNI/ETH pair
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 a publication is governed by House Rules.
You can favorite it to use it on a chart.
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