Sideway Zones Live is an overlay indicator that estimates inner and outer sideways bands from recent highs and lows with a rational quadratic kernel. It tracks swing pivots over a loopback period and counts bars that remain between the outer high and low. Afte
Indicator · Pine Script v4 · On the chart
My Squeeze Play
This indicator requests a five-minute Bitcoin series and plots two lines offset 5,000 price units above and below the bar average.
Repaints
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code38
Settings0inputs
LicenceMIT
Last update4 years ago11 Feb 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
38 lines of Pine Script v4 from squeeze-play.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Greeffer
// This PineScript uses alertcondition() so an alert must be created for both long and short squeeze
//@version=4
// S T U D Y
study("My Squeeze Play", "Squeeze Study", overlay=true)
symbol = "BTCUSDT"
amount=0.001
sell=false
buy=false
expr1 = ohlc4+5000.00
expr2 = ohlc4-5000.00
s1 = security(symbol="BTCUSDT", resolution="5", expression=expr1, lookahead=barmerge.lookahead_on)
s2 = security(symbol="BTCUSDT", resolution="5", expression=expr2, lookahead=barmerge.lookahead_on)
plot(s1)
plot(s2)
if high>s1
sell:=true
else
sell:=false
if low<s2
buy:=true
else
buy:=false
// S E L L
alertcondition(sell, "short squeeze", message='{"side":"shortSqueeze","symbol":"BTCUSDT", "amount":"0.001"}')
//strategy.order("order", long=false, oca_name="order", qty=0.001, comment="sell", when=high>s1)
// B U Y
alertcondition(buy, "long squeeze", message='{"side":"longSqueeze","symbol":"BTCUSDT", "amount":"0.001"}')
//strategy.order("order", long=true, oca_name="order", qty=0.001, comment="buy", when=low<s2)
Overview
My Squeeze Play raises a short squeeze alert when the high exceeds the upper line and a long squeeze alert when the low falls below the lower line. The offsets are fixed in the code and there are no settings. Because it uses higher-timeframe data with lookahead enabled, values can differ between live and historical bars.
- Two fixed-offset lines from five-minute data
- Short and long squeeze alert conditions
- JSON alert messages for a trading bot
- No adjustable inputs
Details
Published by
modster on GitHub
Code credit
Greeffer, as written in the script's header
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Breakout
Markets
Crypto
Timeframes
M1-M5
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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