Black crosses indicate squeeze. It means an impending move once squeeze is released
Price tends to go from red dot to green dot to red dot to green dot to red dot in an endless cycle. We wait for the price bar to not touch the dots before we make a move
If the price goes between the dots and the lines, it means it is likely overheated/oversold...
This is one of my fav script (Leledec Exhaustion). The original script was written in V2 by Glaz here
All I did is to convert this to Version 4 of Pine Scripting language.
An Exhaustion Bar is a bar which signals the exhaustion of the trend in the current direction. In other words, an exhaustion bar is “A bar of the last seller” in case of a downtrend and “A...