Consolidation Zones - Live

Hello Traders!

This is the script that finds Consolidation Zones in Realtime.

How it works?
- The script finds highest/lowest bars by using "Loopback Period"
- Then it calculates direction
- By using the direction and highest/lowest bar info it calculates consolidation zones in realtime
- If the length of consolidation area is equal/greater than user-defined min length then this area is shown as consolidation zone
- Then Consolidation Zone extends automatically if there is no breakout

if you increase the Loopback Length then you get bigger consolidation zones:

You have option to "Paint Consolidation Area" or not:

Release Notes: Fixed: if new highest/lowest is in Consolidation zone then Consolidation Zone is extended
Release Notes: Alerts added
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So crazy. I just wrote a script using the same idea. I didn't publish it because I'm not even sure it's all that good or worthwhile. Shoulda just waited a couple of weeks lol.
Great stuff man. Love your work
+4 Reply
@kurtsmock, thank you ;)
+1 Reply
Hi , can you make a multi time frame one plz ..
+3 Reply
@Jannfaiz88, not easy and may have latency but when I have time I will try
Jannfaiz88 LonesomeTheBlue
@LonesomeTheBlue, Not an issue sir , all f ur scripts are awesome , looking forward for more .. Thank You!
+3 Reply
Love this! Thank You!
+2 Reply
As many others comments as below. This is just great to understand the candlestick support and resistance. Appreciated your efforts and generous shared for us. Thank You LonesomeTheBlue <3
+2 Reply
I Have to say this is great work, keeps the drawdown to a minimum. Thanks so much!!
+2 Reply
Smashin' !
+2 Reply
LonesomeTheBlue syrinxflunki
@syrinxflunki, thank you!
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