Candle Strength Analyzer by The Ultimate Bull Run

kelmarin

# Candle Strength Analyzer

## 📊 Complete Beginner's Guide

---

### 🎯 What This Indicator Does

The **Candle Strength Analyzer** measures how "strong" or "weak" each candlestick is and displays a **score from 0 to 100** above or below every candle.

- **Green numbers** = Bullish (price went UP)
- **Red numbers** = Bearish (price went DOWN)
- **Gray numbers** = Doji (price barely moved)

**Higher score = Stronger candle = More reliable signal**

---

### 🕯️ Understanding Candlesticks (The Basics)

If you're new to trading, here's what a candlestick shows:

```
│ ← Upper Wick (prices that were rejected)
│
┌───┐
│ │ ← Body (the "real" price movement)
│ │ • Green/White body = Price went UP (Bullish)
│ │ • Red/Black body = Price went DOWN (Bearish)
└───┘
│
│ ← Lower Wick (prices that were rejected)
```

**Key Terms:**
- **Open**: The price when the candle started
- **Close**: The price when the candle ended
- **High**: The highest price during the candle
- **Low**: The lowest price during the candle
- **Body**: The rectangle between Open and Close
- **Wick/Shadow**: The thin lines above and below the body

---

## 📐 The 4 Components of Candle Strength

This indicator combines **4 measurements** to calculate the final strength score. Let's understand each one:

---

### 1️⃣ Body Ratio (30% of score)

**What it is:**
The percentage of the candle that is "body" versus "wicks."

**Formula:**
```
Body Ratio = Size of Body ÷ Total Candle Size × 100
```

**What it tells you:**
- **High Body Ratio (70-100%)**: Bulls or bears were in FULL control. The price moved in one direction and STAYED there. This is strong.
- **Low Body Ratio (0-30%)**: There was a fight. Price moved up AND down but ended up roughly where it started. This is weak/indecisive.

**Visual Example:**
```
Strong Candle (90% body): Weak Candle (20% body):

│ │
┌───┐ │
│ │ ┌─┴─┐
│ │ ← Mostly body │ │ ← Tiny body
│ │ └─┬─┘
└───┘ │
│ │
```

**How to interpret:**
| Body Ratio | Meaning |
|------------|---------|
| 90-100% | **Marubozu** - Extremely strong, full commitment |
| 70-90% | **Strong** - Clear winner (bulls or bears) |
| 40-70% | **Normal** - Typical market activity |
| 10-40% | **Weak** - Significant indecision |
| 0-10% | **Doji** - Complete indecision, no winner |

---

### 2️⃣ Close Position Score (25% of score)

**What it is:**
WHERE the candle closed within its range (high to low).

**What it tells you:**
- For a **bullish (green) candle**: Closing near the HIGH means buyers were still eager at the end = STRONG
- For a **bearish (red) candle**: Closing near the LOW means sellers were still eager at the end = STRONG

**Visual Example:**
```
Strong Bullish: Weak Bullish:
(closes near high) (closes near middle)

┌───┐ ← Close here │
│ │ ┌─┴─┐ ← Close here
│ │ │ │
│ │ │ │
└───┘ └───┘
│ │
```

**Why it matters:**
If price went UP but then sellers pushed it back down before the candle closed, that's a sign of weakness. The bulls couldn't hold their ground.

**How to interpret:**
| Close Position | For Bullish Candle | For Bearish Candle |
|----------------|-------------------|-------------------|
| 80-100% | Strong (near high) | Weak (near high) |
| 50-80% | Moderate | Moderate |
| 20-50% | Weak | Moderate |
| 0-20% | Very Weak (near low) | Strong (near low) |

---

### 3️⃣ Relative Volume - RVOL (25% of score)

**What is Volume?**
Volume is the NUMBER of shares/contracts traded during that candle. Think of it as "how many people participated."

**What is RVOL?**
RVOL compares TODAY'S volume to the AVERAGE volume.

**Formula:**
```
RVOL = Current Volume ÷ Average Volume (last 20 candles)
```

**What it tells you:**
- **RVOL = 1.0**: Normal activity (same as average)
- **RVOL = 2.0**: DOUBLE the normal activity (2x more traders involved)
- **RVOL = 0.5**: HALF the normal activity (fewer traders involved)

**Why it matters:**
A big price move with LOW volume is suspicious - it might not last.
A big price move with HIGH volume is confirmed - many traders agree.

**Think of it like voting:**
- High volume = Many people voted for this direction
- Low volume = Only a few people voted, decision might change

**How to interpret:**
| RVOL | Meaning | Signal Quality |
|------|---------|----------------|
| 2.0+ | Very High - Institutional activity likely | ⭐⭐⭐ Excellent |
| 1.5-2.0 | High - Significant interest | ⭐⭐ Good |
| 1.0-1.5 | Above Average | ⭐ Acceptable |
| 0.7-1.0 | Below Average | ⚠️ Caution |
| < 0.7 | Low - Lack of interest | ❌ Unreliable |

---

### 4️⃣ Size vs ATR (20% of score)

**What is ATR?**
ATR stands for "Average True Range." It measures how much the price TYPICALLY moves.

**What this component measures:**
How big is THIS candle compared to how big candles USUALLY are?

**Formula:**
```
ATR Ratio = This Candle's Size ÷ Average Candle Size (ATR)
```

**What it tells you:**
- **ATR Ratio = 2.0**: This candle is TWICE as big as normal = Significant move
- **ATR Ratio = 1.0**: This candle is normal sized
- **ATR Ratio = 0.5**: This candle is HALF the normal size = Minor move

**Why it matters:**
A 50-point move in a stock that normally moves 100 points is small.
A 50-point move in a stock that normally moves 20 points is HUGE.

Context matters!

**How to interpret:**
| ATR Ratio | Meaning |
|-----------|---------|
| 2.0+ | **Expansion** - Unusually large move, potential breakout |
| 1.5-2.0 | **Large** - Significant momentum |
| 1.0-1.5 | **Above Average** - Notable move |
| 0.5-1.0 | **Normal** - Typical movement |
| < 0.5 | **Small** - Insignificant, might be noise |

---

## 🧮 How the Final Score is Calculated

The indicator combines all 4 components with these weights:

```
Final Score = (Body Ratio × 30%) +
(Close Position × 25%) +
(RVOL Score × 25%) +
(Size Score × 20%)
```

**Result: A score from 0 to 100**

---

## 📊 Understanding the Strength Score

| Score | Classification | What It Means | Should You Trade It? |
|-------|---------------|---------------|---------------------|
| **70-100** | 🟢 STRONG | High conviction move, reliable signal | ✅ Yes - Good setup |
| **40-70** | 🟡 MODERATE | Average move, needs confirmation | ⚠️ Maybe - Add other indicators |
| **0-40** | 🔴 WEAK | Low conviction, unreliable | ❌ No - Wait for better setup |

---

## 🏷️ Special Pattern Markers

The indicator also detects special candlestick patterns:

### ⚡ Power Candle
**Requirements:**
- Body Ratio > 70% (strong body)
- RVOL > 1.5 (high volume)
- Close Position > 80% (closes near the extreme)

**What it means:** The BEST possible signal. Everything aligns perfectly.

### Ⓜ️ Marubozu
**Requirements:**
- Body Ratio > 90% (almost no wicks)

**What it means:** Complete dominance by bulls or bears. Very strong continuation signal.

### ◆ High Volume Doji
**Requirements:**
- Doji candle (tiny body)
- High volume

**What it means:** Many traders are fighting, but no one won. Often signals a REVERSAL is coming.

---

## ⚙️ Settings Explained

### Volume Settings

| Setting | Default | What It Does |
|---------|---------|--------------|
| Volume Lookback Period | 20 | How many candles to average for "normal" volume |
| RVOL Threshold | 1.5 | What counts as "high" volume (1.5 = 50% above average) |

### ATR Settings

| Setting | Default | What It Does |
|---------|---------|--------------|
| ATR Period | 14 | How many candles to calculate average movement |
| ATR Multiplier | 1.5 | What counts as a "large" candle |

### Strength Thresholds

| Setting | Default | What It Does |
|---------|---------|--------------|
| Strong Candle Threshold | 70 | Score needed to be "strong" |
| Weak Candle Threshold | 30 | Score below this is "weak" |

### Label Filter (Important!)

TradingView limits indicators to **500 labels maximum**. Use filters to see more history:

| Filter Mode | Shows | Best For |
|-------------|-------|----------|
| All Candles | Every single candle | Short-term charts (5min, 15min) |
| Strong Only (70+) | Only strong candles | Longer history, key signals only |
| Moderate+ (40+) | Moderate and strong | Balance of detail and history |
| Custom Minimum | Your choice | Full control |

**Tip:** On daily charts, use "Strong Only" to see months of history instead of just a few weeks.

### Label Settings

| Setting | What It Does |
|---------|--------------|
| Label Size | tiny / small / normal / large |
| Show Decimal Places | Show "72.5" instead of "73" |
| Label Style | With background bubble OR just text |

---

## 📖 How to Read the Info Table

The table in the corner shows details for the CURRENT (most recent) candle:

| Row | Meaning |
|-----|---------|
| **Candle Strength** | The final score (0-100) |
| **Direction** | BULLISH / BEARISH / DOJI |
| **Body Ratio** | Percentage of candle that is body |
| **Close Position** | Where it closed (0-100) |
| **Upper Wick** | Size of upper wick as % |
| **Lower Wick** | Size of lower wick as % |
| **RVOL** | Current volume vs average (1.5x = 50% above average) |
| **Size/ATR** | Candle size vs average size |
| **Classification** | STRONG / MODERATE / WEAK |
| **Vol Confirmed** | Is volume above threshold? |
| **Pattern** | Special pattern detected |

---

## 🎓 How to Use This Indicator

### Step 1: Add to Chart
1. Open Pine Editor in TradingView
2. Paste the code
3. Click "Add to Chart"

### Step 2: Adjust Filter (if needed)
- If you see "max labels reached," change filter to "Strong Only (70+)"
- This lets you see more candles in history

### Step 3: Look for Strong Signals
Focus on candles with:
- ✅ Score **70+** (bright green or red)
- ✅ **RVOL > 1.5** (confirmed by volume)
- ✅ Special markers (⚡, M, ◆)

### Step 4: Avoid Weak Signals
Be careful with candles that have:
- ❌ Score **below 40** (muted colors)
- ❌ **RVOL < 1.0** (no volume confirmation)
- ❌ Large wicks (rejection happened)

---

## 💡 Trading Tips for Beginners

### ✅ DO:
1. **Wait for strong candles (70+)** before entering trades
2. **Confirm with volume** - Look for RVOL > 1.5
3. **Use at support/resistance levels** - Strong candles at key levels are more meaningful
4. **Combine with other indicators** - RSI, MACD, or moving averages
5. **Practice on demo first** - Learn to recognize strong vs weak candles

### ❌ DON'T:
1. **Trade every candle** - Not all candles are worth trading
2. **Ignore volume** - A strong candle with low volume is suspicious
3. **Fight the trend** - Strong bearish candles in an uptrend might just be pullbacks
4. **Over-leverage** - Even strong signals can fail

---

## 📝 Quick Reference Cheat Sheet

```
STRONG CANDLE CHECKLIST:
□ Score 70+
□ RVOL > 1.5
□ Body Ratio > 60%
□ Close Position > 75% (bullish) or < 25% (bearish)
□ At key support/resistance level

WEAK CANDLE WARNING SIGNS:
□ Score < 40
□ RVOL < 0.7
□ Large wicks (> 30%)
□ Doji pattern
□ Small candle (ATR Ratio < 0.5)
```

---

## ⚠️ Important Disclaimers

1. **No indicator is 100% accurate** - Always use stop losses
2. **Past performance ≠ future results** - Markets change
3. **This is a tool, not a strategy** - Combine with other analysis
4. **Practice first** - Use paper trading before real money

---

## 🔔 Alerts Available

Set alerts for:
- Strong Bullish Candle (with volume confirmation)
- Strong Bearish Candle (with volume confirmation)
- Power Candle detected
- Marubozu detected
- High Volume Doji detected

---

## ❓ FAQ

**Q: Why are some candles missing labels?**
A: TradingView limits indicators to 500 labels. Use filters to see more history.

**Q: The label colors are hard to see. Can I change them?**
A: Yes! Go to Settings → Colors and customize all colors.

**Q: Should I only trade strong candles?**
A: Strong candles are MORE reliable, but not guaranteed. Always use proper risk management.

**Q: What timeframe works best?**
A: Works on all timeframes. Higher timeframes (4H, Daily) tend to have more reliable signals.

**Q: Can I use this for crypto/forex/stocks?**
A: Yes! This indicator works on any market with candlestick data and volume.

---

## 📚 Glossary

| Term | Definition |
|------|------------|
| **Bullish** | Price is going UP / Buyers are winning |
| **Bearish** | Price is going DOWN / Sellers are winning |
| **Doji** | Candle where open and close are nearly equal (indecision) |
| **Marubozu** | Candle with no wicks (full body) |
| **RVOL** | Relative Volume - current volume vs average |
| **ATR** | Average True Range - typical price movement |
| **Wick/Shadow** | The thin lines above/below the candle body |
| **Support** | Price level where buyers tend to step in |
| **Resistance** | Price level where sellers tend to step in |
| **Breakout** | When price moves beyond support/resistance |

---

**Happy Trading! 📈**

*Remember: The best traders are patient traders. Wait for strong setups.*

kelmarin

Nota Keluaran

📊 CANDLE STRENGTH ANALYZER

Measures the "strength" of each candlestick on a scale of 0-100 and displays the score as a label.
🟢 Green = Bullish | 🔴 Red = Bearish | ⚪ Gray = Doji

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

🎯 WHAT IT MEASURES

The score combines 4 key factors:

1️⃣ BODY RATIO (30%)
How much of the candle is "body" vs "wicks"
• 90%+ = Marubozu (very strong)
• 70%+ = Strong
• <30% = Weak/Indecision

2️⃣ CLOSE POSITION (25%)
Where the candle closed within its range
• Bullish closing near high = Strong
• Bearish closing near low = Strong
• Closing in middle = Weak

3️⃣ RELATIVE VOLUME - RVOL (25%)
Current volume compared to average
• RVOL 2.0+ = Very high activity
• RVOL 1.5+ = High (confirmed move)
• RVOL <0.7 = Low (unconfirmed)

4️⃣ SIZE vs ATR (20%)
Candle size compared to typical volatility
• 2x ATR = Large, significant
• 1x ATR = Normal
• 0.5x ATR = Small, insignificant

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📈 HOW TO INTERPRET

SCORE 70-100: 🟢 STRONG
→ High conviction move
→ Reliable signal
→ Good for entries

SCORE 40-70: 🟡 MODERATE
→ Average move
→ Use with confirmation
→ Be cautious

SCORE 0-40: 🔴 WEAK
→ Low conviction
→ Unreliable
→ Avoid trading

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

⚡ SPECIAL MARKERS

⚡ POWER CANDLE
Body >70% + RVOL >1.5 + Closes at extreme
= Best possible signal

Ⓜ️ MARUBOZU
Body >90% (no wicks)
= Full commitment by bulls/bears

◆ HIGH VOLUME DOJI
Doji + High volume
= Potential reversal warning

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

⚙️ KEY SETTINGS

LABEL FILTER (Important!)
• "All Candles" = Shows every candle (up to 500)
• "Strong Only (70+)" = See more history
• "Moderate+ (40+)" = Balance

VOLUME LOOKBACK: Default 20
RVOL THRESHOLD: Default 1.5 (150% of average)
ATR PERIOD: Default 14

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

✅ BEST PRACTICES

✓ Look for scores 70+ with RVOL >1.5
✓ Use at support/resistance levels
✓ Combine with other indicators
✓ Higher timeframes = more reliable

✗ Don't trade every candle
✗ Don't ignore volume
✗ Don't trade weak candles (<40)

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

🔔 ALERTS

• Strong Bullish Candle
• Strong Bearish Candle
• Power Candle
• Marubozu
• High Volume Doji

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Works on all markets: Stocks, Crypto, Forex, Futures
Works on all timeframes: 1min to Monthly

⚠️ Not financial advice. Always use proper risk management.

Summary:
📊 Candle Strength Analyzer

Scores each candlestick 0-100 based on:
• Body Ratio (body vs wicks)
• Close Position (where it closed)
• RVOL (volume confirmation)
• Size vs ATR (significance)

🟢 70+ = Strong | 🟡 40-70 = Moderate | 🔴 <40 = Weak

Features:
✓ Labels above/below each candle
✓ Special pattern detection (⚡Power, Marubozu, Doji)
✓ Customizable filters
✓ Info table with all metrics
✓ Alerts for strong signals

Best for: Finding high-probability entries with volume confirmation.

semalam

Nota Keluaran

📊 CANDLE STRENGTH ANALYZER

🎯 WHAT THIS INDICATOR DOES
═════════════════════

The Candle Strength Analyzer measures how "strong" or "weak" each candlestick is and displays a score from 0 to 100 above or below every candle.

🟢 Green numbers = Bullish (price went UP)
🔴 Red numbers = Bearish (price went DOWN)
⚪ Gray numbers = Doji (price barely moved)

Higher score = Stronger candle = More reliable signal


🕯️ UNDERSTANDING CANDLESTICKS (THE BASICS)
═════════════════════════

KEY TERMS:
• Open: The price when the candle started
• Close: The price when the candle ended
• High: The highest price during the candle
• Low: The lowest price during the candle
• Body: The rectangle between Open and Close
• Wick/Shadow: The thin lines above and below the body


📐 THE 4 COMPONENTS OF CANDLE STRENGTH
═══════════════════════

This indicator combines 4 measurements to calculate the final strength score. Let's understand each one:


━━━━━━━━━━━━━━━━━━━━━
1️⃣ BODY RATIO (30% of score)
━━━━━━━━━━━━━━━━━━━━━

WHAT IT IS:
The percentage of the candle that is "body" versus "wicks."

FORMULA:
Body Ratio = Size of Body ÷ Total Candle Size × 100

WHAT IT TELLS YOU:
• High Body Ratio (70-100%): Bulls or bears were in FULL control. The price moved in one direction and STAYED there. This is strong.
• Low Body Ratio (0-30%): There was a fight. Price moved up AND down but ended up roughly where it started. This is weak/indecisive.

HOW TO INTERPRET:
• 90-100% = MARUBOZU - Extremely strong, full commitment
• 70-90% = STRONG - Clear winner (bulls or bears)
• 40-70% = NORMAL - Typical market activity
• 10-40% = WEAK - Significant indecision
• 0-10% = DOJI - Complete indecision, no winner


━━━━━━━━━━━━━━━━━━━━
2️⃣ CLOSE POSITION SCORE (25% of score)
━━━━━━━━━━━━━━━━━━━━
WHAT IT IS:
WHERE the candle closed within its range (high to low).

WHAT IT TELLS YOU:
• For a BULLISH (green) candle: Closing near the HIGH means buyers were still eager at the end = STRONG
• For a BEARISH (red) candle: Closing near the LOW means sellers were still eager at the end = STRONG

WHY IT MATTERS:
If price went UP but then sellers pushed it back down before the candle closed, that's a sign of weakness. The bulls couldn't hold their ground.

HOW TO INTERPRET:

For BULLISH Candle:
• 80-100% = Strong (close near high)
• 50-80% = Moderate
• 20-50% = Weak
• 0-20% = Very Weak (close near low)

For BEARISH Candle:
• 80-100% = Weak (close near high)
• 50-80% = Moderate
• 20-50% = Moderate
• 0-20% = Strong (close near low)


━━━━━━━━━━━━━━━━━━━━━
3️⃣ RELATIVE VOLUME - RVOL (25% of score)
━━━━━━━━━━━━━━━━━━━━━

WHAT IS VOLUME?
Volume is the NUMBER of shares/contracts traded during that candle. Think of it as "how many people participated."

WHAT IS RVOL?
RVOL compares TODAY'S volume to the AVERAGE volume.

FORMULA:
RVOL = Current Volume ÷ Average Volume (last 20 candles)

WHAT IT TELLS YOU:
• RVOL = 1.0: Normal activity (same as average)
• RVOL = 2.0: DOUBLE the normal activity (2x more traders involved)
• RVOL = 0.5: HALF the normal activity (fewer traders involved)

WHY IT MATTERS:
A big price move with LOW volume is suspicious - it might not last.
A big price move with HIGH volume is confirmed - many traders agree.

THINK OF IT LIKE VOTING:
• High volume = Many people voted for this direction
• Low volume = Only a few people voted, decision might change

HOW TO INTERPRET:
• 2.0+ = Very High - Institutional activity likely ⭐⭐⭐ Excellent
• 1.5-2.0 = High - Significant interest ⭐⭐ Good
• 1.0-1.5 = Above Average ⭐ Acceptable
• 0.7-1.0 = Below Average ⚠️ Caution
• < 0.7 = Low - Lack of interest ❌ Unreliable


━━━━━━━━━━━━━━━━━━━━
4️⃣ SIZE vs ATR (20% of score)
━━━━━━━━━━━━━━━━━━━

WHAT IS ATR?
ATR stands for "Average True Range." It measures how much the price TYPICALLY moves.

WHAT THIS COMPONENT MEASURES:
How big is THIS candle compared to how big candles USUALLY are?

FORMULA:
ATR Ratio = This Candle's Size ÷ Average Candle Size (ATR)

WHAT IT TELLS YOU:
• ATR Ratio = 2.0: This candle is TWICE as big as normal = Significant move
• ATR Ratio = 1.0: This candle is normal sized
• ATR Ratio = 0.5: This candle is HALF the normal size = Minor move

WHY IT MATTERS:
A 50-point move in a stock that normally moves 100 points is small.
A 50-point move in a stock that normally moves 20 points is HUGE.
Context matters!

HOW TO INTERPRET:
• 2.0+ = EXPANSION - Unusually large move, potential breakout
• 1.5-2.0 = LARGE - Significant momentum
• 1.0-1.5 = ABOVE AVERAGE - Notable move
• 0.5-1.0 = NORMAL - Typical movement
• < 0.5 = SMALL - Insignificant, might be noise


🧮 HOW THE FINAL SCORE IS CALCULATED
═════════════════════

The indicator combines all 4 components with these weights:

Final Score = (Body Ratio × 30%) +
(Close Position × 25%) +
(RVOL Score × 25%) +
(Size Score × 20%)

Result: A score from 0 to 100

📊 UNDERSTANDING THE STRENGTH SCORE
═════════════════════

SCORE 70-100: 🟢 STRONG
• High conviction move, reliable signal
• Should you trade it? ✅ Yes - Good setup

SCORE 40-70: 🟡 MODERATE
• Average move, needs confirmation
• Should you trade it? ⚠️ Maybe - Add other indicators

SCORE 0-40: 🔴 WEAK
• Low conviction, unreliable
• Should you trade it? ❌ No - Wait for better setup

━━━━━━━━━━━━━━━━━━━

Happy Trading! 📈

Remember: The best traders are patient traders. Wait for strong setups.

The Ultimate Bull Run.