Buying climax and Selling climaxBuying climax and Selling climax appear at the end of bullish and bearish market ..i trade them little bit different way .when price break buying and selling climax i look for trade sharing some example
Breakout and test of buying climax high
same with selling climax ..there can be various method to take trade
A) trend continue method
1) when buying climax appear at bullish trend and price break it then take trade as breakout upside + test pullback trade
2) when selling climax appear at bear trend and price break it then take trade as breakout downside + test pullback trade
B)trend reversal method
1) when buying climax appear at top of the trend trader can look for reversal
2)when selling climax appear at bottom of the trend trader can look for reversal
thanks @yaheesweety for Boring and Explosive Candles script . i add volume for filter and line so i can check high and low of buying climax
Buyingclimax
HR from Prev closeThis is my simple indicator to help identify whether an upside bar is unusual or not. I like to see a bar as particularly unusual like a 15% move in a long period where a typical move is under 5%. It usually signals a buying climax and the end of that short term rally.
I compares the previous bar's close to the current bar's high and is expressed as a percentage.
I am not much of an expert in pine so I did not program it to plot as a histogram but that is how I like to view it. If you know how, by all means, send me the edit and I will credit you.
