OPEN-SOURCE SCRIPT
Tweezer Bottom with Dynamic Targets
Core Purpose. The script tracks momentum changes by looking for a bullish reversal directly on a specific options contract chart, rather than using the underlying Nifty index spot chart.
Script Architecture. The Rules: It looks for two back-to-back candles where the first candle is bearish, the second is bullish, and their bottom wicks hit an identical price floor (configured with a tight 5% noise tolerance).The Visual: It automatically flags valid trade setups by plotting a green triangle directly underneath the candle on your workspace chart.
Script Architecture. The Rules: It looks for two back-to-back candles where the first candle is bearish, the second is bullish, and their bottom wicks hit an identical price floor (configured with a tight 5% noise tolerance).The Visual: It automatically flags valid trade setups by plotting a green triangle directly underneath the candle on your workspace chart.
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.