GreedZone indicator - Contrarian Indicator

"Be fearful when others are greedy, and greedy when others are fearful" - Warren Buffett. Greedzone is a contrarian indicator that gives us an indication when greed begins to take over in the market. Traders should be prepared for increased volatility and good trading opportunities.

The Greedzone is visualized with green candlesticks above the price.


1. Use the indicator to identify when investors are greedy.
2. Use the indicator to identify potential reversal points.


1 hour chart

5 min chart

I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!

I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!


Copyright by Zeiierman.

The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/ideas are only for educational purposes!
Release Notes: Minor improvements and Alerts added.

Release Notes: Improved alert condition added.

Release Notes: Improvements!

  • Improved computing performances
  • Minor changes
Release Notes: Improvements!

  • Copyright update
  • Minor changes
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.

Want to use this script on a chart?


Hi Any Indicator For Index Like Banknifty Or Nifty
+3 Reply
thumbs up
+2 Reply
Super cool. Thanks for making these.
+1 Reply
Zeiierman Wallycool01
@Wallycool01, We're glad you like it :D
hi. thx alot. and what about fear indicator?
+1 Reply
Zeiierman hhhparsa
@hhhparsa, Hi, you find the FearZone indictor here:
Thanks a lot.
I love you.
Thanks again because this great work.
+1 Reply
Zeiierman Fabiano_Bazilio
@Fabiano_Bazilio, Glad you liked it!
its look very good and profitable, but currently when the green line is appearing I ma taking short position,
but in the same way plz give me some indication to buy also,
+1 Reply
Zeiierman GoldShravankumar
@GoldShravankumar, Thanks, - Check out FearZone indicator! :)