This indicator marks five price patterns. The underlying concept of each pattern is described below.
#1: Trend Bar Failure <TBF> - failure to follow-through with a short-term thrust
#2: Deceleration - weakening thrust
#3: Anti-Climax - climactic and exhaustive price thrust
#4: Congestion Zone - sideways action <shaded zones> including breakout failures <BOF>
#5: Pressure Zones - repeated buying or selling pressure <triangles>
You can toggle their display under Style.
Inputs
Calculate On Close is selected by default. If you unselect it, it will show tentative patterns that can be helpful for anticipating setups. However, the price patterns and zones are NOT confirmed unless it remains marked after the completion of the bar.
Pressure Zone Overlap Filter (in no. of ticks) affects the thickness of the pressure zones. Higher settings filter out thin pressure zones.
Get This Indicator
This indicator is available for purchase as part of Galen Woods' Day Trading With Price Action Course.
Release Notes
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Updated to Pinescript v4 with improved visuals for Congestion Zones (limited to drawing the last 200 zones). Toggle for marking Congestion Zones now available under Inputs.
Release Notes
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Update comments and author's instructions
Release Notes
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Increase Pressure Zone Overlap Filter max value 999 ticks
@JohnSailo, thank you for your interest. These indicators are part of a trading course. You can refer to the indicator details for more information.
msidd218
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@galenwoods, can I get the trial of this indicator
galenwoods
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@msidd218, just added a 3 day trial for you. Enjoy!
rabiather786
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@JohnSailo, kindly give me 3 days trial for indicator
SRININ64
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I want to use this indicator. Please provide access to me.
Lij_MC
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Hi your indicators look great, please add me.
danci13
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Hi Galen, i make HH, HL, LH, LL indicator follow your method with up, down, inside and outside bar... Also implemented in pine script some other features like congestion zone, deceleration, anticlimax....
osiemaa
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can i get a trial for these indicators
galenwoods
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@osiemaa, just activated a three day trial for you!