OPEN-SOURCE SCRIPT
Transient Zones v1.1
Simple indicator to visualize Transient Zones (TZ) and Potential Transient Zones (PTZ).
The last 3 numbers in the header represent: probability of true TZ (black), probability of PTZ (navy) and probability of PTZ resolving (gray).
Original ForexFactory thread by EURUSDD forexfactory.com/showthread.php?t=434603&page=286
Version 1.1:
- Added TZ/PTZ occurrence probability thanks to SPYderCrusher
Todo:
- Mid bar transient zones detection
- Draw rectangles for zones (once rectangle drawing gets implemented in pine script) or use dot/circle lines
- Mark forming PTZs more clearly
Previous version 1.0: tradingview.com/v/X9fqF4cX/
The last 3 numbers in the header represent: probability of true TZ (black), probability of PTZ (navy) and probability of PTZ resolving (gray).
Original ForexFactory thread by EURUSDD forexfactory.com/showthread.php?t=434603&page=286
Version 1.1:
- Added TZ/PTZ occurrence probability thanks to SPYderCrusher
Todo:
- Mid bar transient zones detection
- Draw rectangles for zones (once rectangle drawing gets implemented in pine script) or use dot/circle lines
- Mark forming PTZs more clearly
Previous version 1.0: tradingview.com/v/X9fqF4cX/
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