OPEN-SOURCE SCRIPT
Minervini Power Play Indicator
### 📝 **Description:**
**Overview**
This indicator is designed to detect one of the most explosive and highly coveted chart patterns in the stock market: the **Power Play** (also known as the High Tight Flag), popularized by trading champion Mark Minervini.
The Power Play is a "velocity pattern" that occurs when a stock is experiencing a massive fundamental catalyst or extreme supply/demand imbalance, leading to a parabolic thrust followed by a shallow, tight consolidation.
**How It Works (The Math)**
This script filters for the strict mathematical criteria required for a true Power Play:
1. **The Thrust:** The stock must have surged by at least 100% (price doubled) within a period of 8 weeks (40 trading days) or less.
2. **The Pullback (Depth):** During the subsequent consolidation, the stock must not pull back more than 20% to 25% from the absolute peak of the thrust.
3. **The Consolidation:** The stock must be trading sideways or slightly down (not immediately making new highs).
When all these conditions are met, a **Yellow Circle** will plot below the daily candle, alerting you that the stock is in a valid Power Play consolidation zone.
**Customizable Parameters**
- **Thrust Period:** Default is 40 trading days (approx. 8 weeks).
- **Minimum Gain Multiplier:** Default is 2.0 (representing a 100% gain from the lowest low to the highest high).
- **Maximum Pullback:** Default is 0.25 (allowing a maximum 25% correction from the highest high).
**⚠️ How to Trade It (Crucial)**
This indicator serves as an **alert system**, NOT a blind buy signal. While the script calculates the math perfectly, algorithms cannot visually identify a Volatility Contraction Pattern (VCP).
When the yellow dot appears, you must manually inspect the chart for:
- **Price Tightness:** The daily ranges should be visibly contracting from left to right.
- **Volume Dry-Up:** Volume should shrink dramatically during the tightest areas of the flag.
- **Entry & Stop:** Buy the breakout above the pivot point of the tightest area, and place a strict, tight stop-loss just below that consolidation. If the stock drops below the 25% threshold, the dots will disappear, indicating the setup has failed.
*(Disclaimer: This script is for educational purposes only. Always combine indicator alerts with manual visual confirmation and strict risk management.)*
**Overview**
This indicator is designed to detect one of the most explosive and highly coveted chart patterns in the stock market: the **Power Play** (also known as the High Tight Flag), popularized by trading champion Mark Minervini.
The Power Play is a "velocity pattern" that occurs when a stock is experiencing a massive fundamental catalyst or extreme supply/demand imbalance, leading to a parabolic thrust followed by a shallow, tight consolidation.
**How It Works (The Math)**
This script filters for the strict mathematical criteria required for a true Power Play:
1. **The Thrust:** The stock must have surged by at least 100% (price doubled) within a period of 8 weeks (40 trading days) or less.
2. **The Pullback (Depth):** During the subsequent consolidation, the stock must not pull back more than 20% to 25% from the absolute peak of the thrust.
3. **The Consolidation:** The stock must be trading sideways or slightly down (not immediately making new highs).
When all these conditions are met, a **Yellow Circle** will plot below the daily candle, alerting you that the stock is in a valid Power Play consolidation zone.
**Customizable Parameters**
- **Thrust Period:** Default is 40 trading days (approx. 8 weeks).
- **Minimum Gain Multiplier:** Default is 2.0 (representing a 100% gain from the lowest low to the highest high).
- **Maximum Pullback:** Default is 0.25 (allowing a maximum 25% correction from the highest high).
**⚠️ How to Trade It (Crucial)**
This indicator serves as an **alert system**, NOT a blind buy signal. While the script calculates the math perfectly, algorithms cannot visually identify a Volatility Contraction Pattern (VCP).
When the yellow dot appears, you must manually inspect the chart for:
- **Price Tightness:** The daily ranges should be visibly contracting from left to right.
- **Volume Dry-Up:** Volume should shrink dramatically during the tightest areas of the flag.
- **Entry & Stop:** Buy the breakout above the pivot point of the tightest area, and place a strict, tight stop-loss just below that consolidation. If the stock drops below the 25% threshold, the dots will disappear, indicating the setup has failed.
*(Disclaimer: This script is for educational purposes only. Always combine indicator alerts with manual visual confirmation and strict risk management.)*
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.