Exhausted (Expo) indicator visualize exhausted . Exhaustion often signals the reversal of a current trend because it illustrates excess levels of supply or demand, indicating a market is either overbought or oversold.
The indicator can also be used to detect pressure in either direction which can occur in breakouts or in reversal points. The input variable ‘Volume Length’ can be changed. A longer length means that the indicator detects bolder exhausted .
• pressure is seen in reversal points.
• pressure can be seen in breakouts.
The indicator is also equipped with exhausted signals that are more sensitive. This is visualized with arrows up and down. The investor has the ability to adjust the sensitivity of these signals.
HOW TO USE
1. Use the indicator to identify exhausted
2. Use the indicator to identify pressure.
3. Use the indicator to identify reversal points.
4. Use the indicator to identify breakouts.
Combine the indicator with ‘Climax (Expo)’
INDICATOR IN ACTION
The indicator works with RENKO, HEIKIN ASHI and with KAGI charts as well.
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Copyright by Zeiierman.
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