Our Exhaustion indicator is one of our most interesting scripts.

Stocks have to be analyzed as a living being, and like any living being when it is making extreme movements it needs to stop to breathe. This moment is the one that we were interested in identifying, because it is when your strategy comes into play, usually the stock stops and turns around but it can also happen that it stops, rests for a short time and follows its trend.

NOTES:

– Exhaustion already comes with its default and tested values, but we decided to leave the door open so each user can calibrate it to their needs. By default, this value is 3.1 but you can modify it from 0 to 4 where 4 is the highest level and is very rarely reached.

-The recommended timeframe is 5 minutes, but we also leaved this door open for each user to find their best version according to their own strategy.

– Exhaustion comes with an oscillator that also helps us identify if it is close to entering this zone of possible inflection or rest, this oscillator also comes with default values but can be modified.

– Exahustion works with any stocks and futures.

– Combined with PIVOTS PRO, it becomes much more powerful because it gives you a higher probability of having found the turning point and trend change.

For its correct operation we recommend putting the indicator at the front of the chart.
Please follow these steps

Examples

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