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mentalRock19315

[TK] Congestion pattern

mentalRock19315  
Chart patterns
33
1
chartpatterns
Draw on your chart the congestion zone.
The exit of the congestion zone is an interesting time for trading.

How is calculated the congestion zone ?
If the candle close in the range of the previous candle : this is a continuation of the congestion zone
if the candle close out of the range of the previous candle : the congestion zone is over
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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