Greer Zones (Buy and Sell Zones)Greer Zones Indicator
The Greer Zones indicator is designed to identify optimal buy and sell zones based on the Aroon indicator and Fibonacci numbers. It detects key market shifts by calculating the highest and lowest prices over a user-defined period, providing visual cues for when the market enters a potential BuyZone or SellZone.
Key Features:
BuyZone and SellZone Detection: Automatically identifies and labels BuyZones and SellZones on the chart, helping users spot potential entry and exit points.
Fibonacci-Based Calculation: The indicator uses the Fibonacci number 233 for its Aroon calculation, a common ratio in technical analysis, to find reliable trends and reversals.
Visual Zone Marking: The script fills the areas between price levels with distinct colors to clearly visualize when the price is in a BuyZone (red shading) or SellZone (green shading).
Customizable Options: Users can enable or disable zone boxes, customize the size of text labels, and receive alerts when a BuyZone begins or ends.
Midpoint and Price Extremes: Plots the lowest and highest price levels along with the midpoint to offer a complete view of the price behavior during the zones.
This indicator is ideal for long-term traders who want to simplify their decision-making process by identifying key moments when the market enters favorable buying or selling conditions.