OPEN-SOURCE SCRIPT
Transient Zones
Updated version 1.1: tradingview.com/v/NBcEvyej/
Simple indicator to visualize Transient Zones (TZ) and Potential Transient Zones (PTZ).
Original ForexFactory thread by EURUSDD forexfactory.com/showthread.php?t=434603&page=286
Todo:
- Mid bar transient zones detection
- Draw rectangles for zones (once rectangle drawing gets implemented in pine script)
- Mark forming PTZs more clearly
Simple indicator to visualize Transient Zones (TZ) and Potential Transient Zones (PTZ).
Original ForexFactory thread by EURUSDD forexfactory.com/showthread.php?t=434603&page=286
Todo:
- Mid bar transient zones detection
- Draw rectangles for zones (once rectangle drawing gets implemented in pine script)
- Mark forming PTZs more clearly
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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