This indicator uses a combines the "Williams %R" and "ATR_Normalized" indicators to find potential price bottoms, as suggested by simultaneous extreme values on both of the aforementioned indicators. This is represented by near zero values one this indicator. A log transform is used to make the dips easier to spot.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Per aggiungerlo al grafico, mettilo tra i preferiti.
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