Fearzone Panel

FearZone is strategy described in the book (Swedish):

"Framgångsrik Aktiehandel" by: Peter Nilsson, Jonny Torsell, Johan Hellström

Idea: FearZone tries to indicate when a stock has fallen to a level where
fear, instead of common sense, control the further development.

It is only intended for (very) short trades.

Suggestion: Enter a trade (at your own risk) when all columns are green.
Exit as soon as profit is made, but no longer than 5 periods has lasted.
Release Notes: New version contains one new Signal Indicator, the "Ricochet Zone".
Each of the triggering Signal Indicators now have distinctive colors in order
to make it easier to see which is which.

The Panel now consists of the following rows:

1. FZ1 indicator (lime)
2. FZ2 indicator (lime)
3. Impulse down 10% (blue)
4. In Ricochet zone (yellow)
5. Magic-K1 (white)
4. Above MA-200 (lime)
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.

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