Explosive Potential

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

sydneyshan

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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 publications is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

sydneyshan

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Disclaimer

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