Price Squeeze Patterns Strategy by vikprimus
By vikprimus
Performance Metrics
- Author: vikprimus
- Symbol: FX:EURUSD
- Timeframe: 1 day
- Win Rate: 31.9%
- Profit Factor: 1.32
Description
Upward Squeeze (Ascending Triangle): The indicator calculates the slope of the highs and lows over a specific window length. It looks for a flat resistance (highs have close to zero slope) and rising support (lows are stepping up). It also ensures the closing price is currently tightening near that flat resistance level before plotting a green upward arrow.Downward Squeeze (Descending Triangle): Similarly, it identifies flat support on the bottom and a falling resistance line (lower highs) above. It plots a red downward arrow when the price is tightening near the flat support.I've included customizable inputs so you can fine-tune what the script considers "flat" vs. "steep" based on the timeframe you're trading:Lookback Length: Adjusts how many bars constitute the pattern.Flat Threshold (%): How strictly horizontal the flat side of the triangle needs to be.Steep Threshold (%): The minimum slope needed for the tightening/contracting side.I've included customizable inputs so you can fine-tune what the script considers "flat" vs. "steep" based on the timeframe you're trading:Lookback Length: Adjusts how many bars constitute the pattern.Flat Threshold (%): How strictly horizontal the flat side of the triangle needs to be.Steep Threshold (%): The minimum slope needed for the tightening/contracting side.