GreedZone indicator - Contrarian Indicator

"Be fearful when others are greedy, and greedy when others are fearful" - Warren Buffett. Greedzone is a contrarian indicator that gives us an indication when greed begins to take over in the market. Traders should be prepared for increased volatility and good trading opportunities.

The Greedzone is visualized with green candlesticks above the price.


HOW TO USE

1. Use the indicator to identify when investors are greedy.
2. Use the indicator to identify potential reversal points.


INDICATOR IN ACTION


1 hour chart

5 min chart

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 continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!


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Disclaimer

Copyright by Zeiierman.

The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.


My scripts/indicators/ideas are only for educational purposes!

Note di rilascio:

Minor improvements and Alerts added.

Best
Zeiierman

Note di rilascio:

Improved alert condition added.

Best
Zeiierman

Note di rilascio:

Improvements!

• Improved computing performances
  
• Minor changes
  

Note di rilascio:

Improvements!

• Copyright update
  
• Minor changes