TTP Capitulation (%R, NATR, MA) v0.1

TTP Capitulation uses %R and normalised ATR to find capitulations.

The criteria is to seek for the maximum volatility by setting a threshold to the ATR combined with a threshold for %R at oversold levels.

You can set a gap consisting of multiple candles for the two events to happen and still be considered a signal.

BUY signals are only triggered when price is above the 100 weekly MA.

You can also enable "bull market buy signals" which can be used as a way to also find smaller scale capitulation events during bull markets. These represent higher risk and expected to have a higher ratio of false positives.

This indicator is backtestable and supports alerts.

The default parameters are tweaked to find all market capitulations for BTC in the daily timeframe.

You can use this symbol to get all the BTC historic prices
I use the chart in logarithmic scale to be able to visualise better each of the events and confirm the parameters are optimised.

Release Notes

Changing ATR length to a default of 65 (previously 13) has these effects:
- It no longer flags current price action as capitulation (yet)
- It finds the market bottoms more accurately. When using ATR length of 13 the signal starts a few days "too early" rather than the actual bottom.

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact TheTradingParrot directly.

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Author's instructions

you can get access to this indicator with a tier equal or higher than picnic from https://thetradingparrot.com/tiers

Warning: please read our guide for invite-only scripts before requesting access.

TheTradingParrot

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thetradingparrot.com

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