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:

Notas de Lançamento: Fixed: if new highest/lowest is in Consolidation zone then Consolidation Zone is extended
Notas de Lançamento: Alerts added
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If you find my works useful, please consider a donation
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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
+5 Resposta
@kurtsmock, thank you ;)
+1 Resposta
Hi , can you make a multi time frame one plz ..
+3 Resposta
@Jannfaiz88, not easy and may have latency but when I have time I will try
+1 Resposta
Jannfaiz88 LonesomeTheBlue
@LonesomeTheBlue, Not an issue sir , all f ur scripts are awesome , looking forward for more .. Thank You!
+3 Resposta
Love this! Thank You!
+2 Resposta
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 Resposta
I Have to say this is great work, keeps the drawdown to a minimum. Thanks so much!!
+2 Resposta
Smashin' !
+2 Resposta
LonesomeTheBlue syrinxflunki
@syrinxflunki, thank you!
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