indicator · on price · open source
Tweezer Top
Running…
Loading chart…
About
Tweezer Top: two candles with nearly identical highs (within 10% of ATR), the first bullish and the second bearish. The equal highs mark strong resistance.
- Red bar colour on the second candle.
- Most reliable after an uptrend and at obvious resistance zones.
Source code
//@version=5
indicator("Tweezer Top", overlay=true)
highEq = math.abs(high - high[1]) < ta.atr(14) * 0.1
prevUp = close[1] > open[1]
currDown = close < open
tw = highEq and prevUp and currDown
barcolor(tw ? color.red : na)
plotshape(tw, "Tweezer Top", style=shape.triangledown, location=location.abovebar, color=color.red, text="TT")
alertcondition(tw, "Tweezer Top", "Tweezer Top pattern printed")
No comments yet.
Sign in to comment.