Tweezer Bottom

A reader wanted to know the code for "tweezer bottom" - here is what I use on Quote Tracker

If bar low = bar low[1] and bar close > bar open and bar open < ema(21) set color to $70106D

The color is kind of a purplish black - I use an arrow under the candle to point it out. I like using this one on 4 minute charts but it works well on 15 minute too.

Here is an example - you can see where PAAS put out the tweezer bottom on the 4 minute charts -



You can see the little arrow on the chart.

A bonus indicator is also being shown - the lines are Pivot Points. You can see where PAAS bounced off of support 1 and ran right up to its Pivot.