M.Right_Top & Bottom Finder 1.0

Thank you @Lazybear for the calculations for squeeze and BB, and all of the other great pine-coders who inspired me to create my own indicator to share!

This is the result of hours of work learning to code pine and tweaking until everything fits exactly what I was looking for.
After using it for a while and seeing the benefits personally, I figured now might be a good time to share with everyone while we are in such great market volatility, maybe I can save you some losses.

Basically, my indicator is meant to use volatility and standard deviations to show you the top and bottom of trends.
It does indeed work on lower timeframes, I typically use it on 5m, 30m, 4hr, and 1d.

What to look for:
When it detects the trend bottoming it will send a green histogram bar down, I also created a different shade green for even more likely bottoms.
When it detects the top of the trend it will send a red bar up, I have a brighter red for more certain tops.
The length of the histogram bar is also an indication as well. Sometimes there will be a reversal while still just showing the gray bar.

I just added alerts, so hopefully those work. If not, I will update.

Let me know if you have any questions, and enjoy.


Cheers!

Notas de prensa:

Updated to v5

Notas de prensa:

• Cleaned up the script.
  
• Added reversal levels.
  
• Updated chart with examples.
  

Notas de prensa:

• Simplified Settings
  
• Improved calculations - more accurate signals.