This script supports my previous post Empirical Suite
It automatically plots Support and Resistance levels on the chart during periods of volatility squeeze.
You have three plotting methods:
The levels are color-coded:
Red: weak, one-sided volatility squeeze
Orange: typically strong, no volatility issue
You can have a double-red zone, where both buying and selling volatility has dropped.
Combine this with the Empirical Suite or your favorite
analysis tools for extra confirmation.
Cheers,
EFX
It automatically plots Support and Resistance levels on the chart during periods of volatility squeeze.
You have three plotting methods:
- From High to Low
- From Open to Close
- Linear Regression (experimental)
The levels are color-coded:
Red: weak, one-sided volatility squeeze
Orange: typically strong, no volatility issue
You can have a double-red zone, where both buying and selling volatility has dropped.
Combine this with the Empirical Suite or your favorite
analysis tools for extra confirmation.
Cheers,
EFX
Versionsinformation:
Updated defaults
Removed poorly performing settings
Removed poorly performing settings
Versionsinformation:
- Upgrade to Pine V5
- Choose your own colors for Zones!
- Improved default settings
Need Indicators/Strategies for TradingView? -> t.me/pinescripters_jobs
General questions about Pinescript? -> t.me/pinescripters
General questions about Pinescript? -> t.me/pinescripters
