This is an overlay version of my SQUEEZE SR osc. Please refer to its page for full description.
As osc results are easy to interpret so tops and bottoms can be automatically plotted as support and resistance.
The script also calculates the median of formed by last top and bottom range - grey line by default, and the pullback target price - orange line by default.
As osc results are easy to interpret so tops and bottoms can be automatically plotted as support and resistance.
The script also calculates the median of formed by last top and bottom range - grey line by default, and the pullback target price - orange line by default.
Release Notes:
- More complex high and low range levels identification. Now it is closer to the idea. It affects the range and TP and EQ lines.
- Pullback force is now calculated not by peak value but by the average of values that over thresholded. It affects the range and TP lines.
- Use of a new state - superheat - it occurs when the pullback is more than half of the range. In that position, TP and EQ lines are plotted opposite as if trend continuation. It affects TP and EQ lines and Arrows plots.