This indicator detects when 3 moving averages converge and become coiled. This indicates volatility contraction which often leads to volatility expansion, i.e. large price movements.
Moving averages are considered coiled when the percent difference from each moving average to the others is less than the Coil Tolerance % input value.
This indicator is unique in...
A mini coil is a low risk setup that can be used within a longer term pattern. The coiling action represents a tightening of volatility and is most effective when price is no more than 10-15% above a prior base.
The mini coil was created by Matt Caruso, @CarusoInsights, a professional investor and top performer in the 2020 US Investing Championship, finishing...