Hello, This indicator is from open source of Tradingview, it shows realtime reversal zones. I came across it when I was surges for Momentum Reversal Zones.
I hope you can convert it?
as descripted on the page;
https://www.tradingview.com/script/w2sPsVff-Wick-Pressure-by-SiddWolf/
Multiple Wicks forming at OverSold & OverBought levels create Buying and Selling Pressure. This Script tries to capture the essence of the buy and sell pressure created by those wicks. Wick pressure shows that the trend is Exhausted.
How it works:
This Wick Pressure Indicator checks for three candles forming the wicks in overbought and oversold zones. The zones are set by RSI and can be changed in settings. Those three candles should form a bit long wick and length of the wick is determined by ATR. The ATR multiple can be changed from settings. And then the script draws a box in the area formed by three candle wicks.
the code;
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © SiddWolf
//@version=5
indicator(title=”Wick Pressure by SiddWolf”, shorttitle=”WP [SiddWolf]”, overlay=true)
mee_rsi = ta.rsi(close, 14)
atr_mult = input.float(title=”ATR Multiplier”,defval=0.7, step=0.1, minval=0.4, maxval=2.0, tooltip=”The Wick area is filtered on the basis of atr and this is multiplier to that ATR. The more the multiplier value, the less the signals and vice versa”)
box_length = input.int(title=”Box Length”,defval=16, step=2, minval=4, maxval=100, tooltip=”Length of Wick Pressure Box”)
rsi_ob = input.int(title=”RSI OverBought”,defval=60, step=5, minval=50, maxval=90, inline=”rsi_settings”, tooltip=”RSI based on which signnals are filtered”)
rsi_os = input.int(title=”RSI OverSold”,defval=40, step=5, minval=10, maxval=50, inline=”rsi_settings”)
bull_color = input(defval=#00FF0021, title=”Bullish Pressure”, inline=”box_color”)
bear_color = input(defval=#FF000021, title=”Bearish Pressure”, inline=”box_color”)
//bullish wick pressure
rsi_bullish_cond = mee_rsi < rsi_os or mee_rsi[1] < rsi_os or mee_rsi[2] < rsi_os
ll3 = ta.lowest(low, 3)
lc3 = math.min(ta.lowest(close, 3), ta.lowest(open, 3))
if low<=lc3 and low[1]<=lc3 and low[2]<=lc3 and open>=lc3 and open[1]>=lc3 and open[2]>=lc3 and lc3-ll3>(atr_mult*ta.atr(14)) and rsi_bullish_cond and close>open
box.new(bar_index, lc3, bar_index+box_length, ll3, bgcolor=bull_color, border_color=color.green)
//bearish wick pressure
rsi_bearish_cond = mee_rsi > rsi_ob or mee_rsi[1] > rsi_ob or mee_rsi[2] > rsi_ob
hh3 = ta.highest(high, 3)
hc3 = math.max(ta.highest(close, 3), ta.highest(open, 3))
if high>=hc3 and high[1]>=hc3 and high[2]>=hc3 and open<=hc3 and open[1]<=hc3 and open[2]<=hc3 and hh3-hc3>(atr_mult*ta.atr(14)) and rsi_bearish_cond and close<open
box.new(bar_index, hh3, bar_index+box_length, hc3, bgcolor=bear_color, border_color=color.red)
Thanks,
Jeroen
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