OPEN-SOURCE SCRIPT
v6 FakeOut V2 SHD (indicator)
Simple indicator for fake out condition.
fake out in this indicator consider when previous candle bearish then current candle also bearish with its spike higher than previous spike. Sign & alert appear as fake out sell signal.
Same thing with bullish condition.
When previous candle bullish, then current candle also bullish, with low spike is lower than previous low spike, consider as bullish signal.
customized with sign & alert when condition meet.
enjoy.
fake out in this indicator consider when previous candle bearish then current candle also bearish with its spike higher than previous spike. Sign & alert appear as fake out sell signal.
Same thing with bullish condition.
When previous candle bullish, then current candle also bullish, with low spike is lower than previous low spike, consider as bullish signal.
customized with sign & alert when condition meet.
enjoy.
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.