[TTI] Minervini's Stock Under Pressure

17 lut 2023

––––History & Credit––––
📚 Credit: This script is inspired by Mark Minervini's book, "Trade Like a Stock Market Wizard". The book is a must-read for any stock trader or investor, and it's where the idea for this indicator came from.

–––––What it does––––
💡 What it does: The Minervini's Stock Under Pressure Indicator is a powerful tool for stock traders and investors. It helps to identify when a stock is under pressure and less likely to breakout and continue its upward movement.

📈 How it works: The indicator uses price action and various moving averages to calculate when a stock is under pressure. It provides a clear signal in the when a stock is struggling to move higher by printing puple color on the pane, so you can adjust your trading strategy accordingly.

–––––How to use it––––
👨‍💼 How to use it: You can use the Minervini's Stock Under Pressure Indicator as an additional criteria while deciding whether a stock is likely to breakout. If the indicator is showing that the stock is under pressure, then you may want to wait for a better entry point or avoid the stock altogether. Remember trading is probabilities game.

📊 Calculations: The indicator is based on a complex calculation, but you don't need to worry about the details. All you need to do is to look for the signal and act accordingly.

💻 Installation: To use the indicator, simply install it on your TradingView chart and adjust the settings as necessary. You can customize the indicator to fit your trading style and preferences.

🚀 Get ready to trade like a stock market wizard with the Minervini's Stock Under Pressure Indicator!