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OPEN-SOURCE SCRIPT

Explosive Potential

By sydneyshan
Updated
This script looks at times where MACD is within a specified range (very close to 0 values) and price action is very constrained (under 2%). Historically price has made a strong move after these conditions.

I typically run this on an 8H timeframe.

Review on BTCUSD and other cryptos.
Release Notes
Increased the 'Price bar back' range (for lower timeframes).
Made price threshold input a %
Release Notes
Updated script example snapshot
Release Notes
Added alert condition + video tutorial for tuning:

youtu.be/XUUJw5uCXe8
BTCUSDETHBTCMoving Average Convergence / Divergence (MACD)price

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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sydneyshan
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