OPEN-SOURCE SCRIPT
Buyers/Sellers Trapped V2
This spots the bar where price spikes hard one way, then reverses and closes back against the spike. Whoever chased the move is trapped, and price usually keeps going the way it reversed.
I first published a version of this in 2017. This is the rebuild.
On the chart
*ST (green, up arrow): sellers trapped after a down spike. Bullish continuation cue.
*BT (red, down arrow): buyers trapped after an up spike. Bearish continuation cue.
*Trend filter (EMA + slope) highlights signals that line up with the trend and fades or hides the rest. The trend-aligned ones are the setups that matter.
*ATR-buffered stop just beyond the spike, so invalidation isn't sitting on the wick.
*Exit marker when the trend flips (price closes back through the MA) or the stop gives out.
How I use it
*Trade it with the trend, not against it. A trap in the direction of an established trend is a continuation entry, or a spot to add to a position you already hold.
*Stop goes an ATR beyond the spike.
Don't cap it with a tight target. The spike makes the stop wide, so a small fixed target pays you badly for the risk. Let it run and exit on the trend flip. In my own testing across crypto, riding to the trend flip beat every fixed target, and the long side carried most of the edge.
*Strongest in trending markets, noisy in chop, so lean on the trend filter. Alerts are built in for the entries, the trend-aligned entries, and the exit.
Free to use, feedback welcome.
Cheers,
Ivan Labrie.
I first published a version of this in 2017. This is the rebuild.
On the chart
*ST (green, up arrow): sellers trapped after a down spike. Bullish continuation cue.
*BT (red, down arrow): buyers trapped after an up spike. Bearish continuation cue.
*Trend filter (EMA + slope) highlights signals that line up with the trend and fades or hides the rest. The trend-aligned ones are the setups that matter.
*ATR-buffered stop just beyond the spike, so invalidation isn't sitting on the wick.
*Exit marker when the trend flips (price closes back through the MA) or the stop gives out.
How I use it
*Trade it with the trend, not against it. A trap in the direction of an established trend is a continuation entry, or a spot to add to a position you already hold.
*Stop goes an ATR beyond the spike.
Don't cap it with a tight target. The spike makes the stop wide, so a small fixed target pays you badly for the risk. Let it run and exit on the trend flip. In my own testing across crypto, riding to the trend flip beat every fixed target, and the long side carried most of the edge.
*Strongest in trending markets, noisy in chop, so lean on the trend filter. Alerts are built in for the entries, the trend-aligned entries, and the exit.
Free to use, feedback welcome.
Cheers,
Ivan Labrie.
開源腳本
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這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。