OPEN-SOURCE SCRIPT
Barbwire [Yohtza]
Barbwire is a term used for tight trading ranges where it is extremely hard to make money by betting on successful breakouts. Experienced traders are using limit orders to fade and scalp. For most it is an area that is best to stay away and wait for the market to start trending again.
The indicator is analyzing the size of bodies of the bars and the depth of pullbacks to determine whether the market is in Barbwire.
By default it highlights the background of the chart, it is possible to use a shape above the bars instead in the settings.
The indicator is analyzing the size of bodies of the bars and the depth of pullbacks to determine whether the market is in Barbwire.
By default it highlights the background of the chart, it is possible to use a shape above the bars instead in the settings.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.