indicator · on price · open source
Belt Hold
Running…
Loading chart…
About
Belt Hold: bullish candle that opens at the low of the day (no lower wick), closes higher, and prints above the 20-SMA. Strong one-sided bullish commitment.
- Bar coloured green when the bullish belt-hold conditions hit, red otherwise.
- Most reliable after a multi-bar decline or in an uptrend.
Source code
//@version=5
indicator("Belt Hold", overlay=true)
bh = open == low and close > ta.sma(close, 20) and close > open
barcolor(bh ? color.green : color.red)
plotshape(bh, "Bullish Belt Hold", style=shape.triangleup, location=location.belowbar, color=color.green, text="BL")
alertcondition(bh, "Bullish Belt Hold", "Bullish Belt Hold pattern printed")
No comments yet.
Sign in to comment.