This indicator displays how many buyers and sellers are trapped into their positions. These figures are calculated by comparing the price they entered their positions, to the current price +- trading fees.

This indicator also features an option to account for trading fees, so that it can be used as reliably in the real world, on real people as much as possible!

The chart is a simple zero-line cross, displaying both buyers and sellers trapped in the form of a histogram.

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Meesemoo

//@version=4
study("Identifying Trapped Traders")

lookback = input(defval = 10, title = "How many bars lookback?", minval = 2, maxval = 500, type = input.integer)
trading_fees = input(defval = true, title = "Account for Trading fees?", type=input.bool)

fee = 0.0
if trading_fees
    fee := (hl2 * 0.002)

trapped_buyers = 0.0
trapped_sellers = 0.0

for i = 0 to lookback
    if high[i] > (hl2 - fee)
        trapped_buyers := trapped_buyers + (hl2 - high[i])
    
    if low[i] < (hl2 + fee)
        trapped_sellers := trapped_sellers + (hl2 - low[i])
        
plot(trapped_buyers, color = color.green)
plot(trapped_sellers, color = color.red)
plot(0, color = color.gray)

fill(plot(0), plot(trapped_buyers, color = color.green), color = color.green, transp = 70)
fill(plot(0), plot(trapped_sellers, color = color.red), color = color.red, transp = 70)

[attachment file=”174558″]

tt-1.jpg