Explosive Potential — Indicator by sydneyshan

macd btcusd ethbtc price

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:

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.

Disclaimer

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