TTP Capitulation: new pine script

Green dots highlight capitulation events

What does it do?

TTP Capitulation uses %R and normalised ATR to find capitulations.

The criteria is to seek for the maximum volatility by setting a threshold to the ATR combined with a threshold for %R at oversold levels.

You can set a gap consisting of multiple candles for the two events to happen and still be considered a signal.

BUY signals are only triggered when price is above the 100 weekly MA.

You can also enable “bull market buy signals” which can be used as a way to also find smaller scale capitulation events during bull markets. These represent higher risk and expected to have a higher ratio of false positives.

The default parameters are tweaked to find all market capitulations for BTC in the daily timeframe .

Alerts and backtestable

This indicator is backtestable and supports alerts.

TTP Capitulation buy corresponds with the green dots.

Bull market buy are weaker signals that can happen during a big pull back during a bull run. Because these signals are weaker they can in some cases fire too early when a price dump is just starting.

How to setup

On TradingView you can copy the chart using the button below or you can start from scratch by loading the INDEX:BTCUSD to get all the historic prices from BTC in the daily timeframe.

I use the chart in logarithmic scale to be able to visualise better each of the events and confirm the parameters are optimised.


The accuracy of the BUY events is 100% up until now. Remember that no indicator is 100% accurate and I’m sure that there will be events that break the trend of the past capitulation events.


You need a Picnic or higher tier to access this indicator.

Updated on May 19, 2022

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