Williams Squat Bars
Squat bars are a battle of the bulls and the bears, with lots of buying and selling but little price movement.
A squat bar will be one of the top three OR bottom three bars 85% of the time at the end of a trend.
While all trends end with a squat, all squats are NOT the end of a trend.
A squat bar will be one of the top three OR bottom three bars 85% of the time at the end of a trend.
While all trends end with a squat, all squats are NOT the end of a trend.
//This is a volume based indicator. Make shure to use proper volume input.
//Squat bars are a battle of the bulls and the bears, with lots of buying and selling but little price movement.
//A squat bar will be one of the top three OR bottom three bars 85% of the time at the end of a trend.
//While all trends end with a squat, all squats are NOT the end of a trend.
study("Williams Squat Bars", shorttitle="Squat Bars", overlay=true)
r_hl=roc((high-low)/volume,1)
r_v=roc(volume,1)
squat_f=(r_hl < 0) and (r_v > 0)
barcolor(squat_f ? blue : na)