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LLHC/HHLC - Simple Arrows

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A simple script for analyzing two types of reversal candles. HHLC and LLHC reversal candles.

HHLC
  • If a candle has a higher high and a lower close than the previous candle, it is marked with a red HHLC downward pointing arrow.

LLHC
  • If a candle has a lower low and a higher close than the previous candle, it is marked with a green LLHC upward pointing arrow.

The script's first iteration helps identify candles that MIGHT be reversal candles.

Remember to check:
1. What market cycle the price action for a stock is in.
2. Which reversal you're looking for as a result of that market cycle.

I'm not a pro, so hopefully, the stuff to remember is correct. Please examine the candles to determine if they fit your parameters for a reversal candle.

Shout out to TJ for teaching about these reversal candles! He's a freaking boss!!
Nota Keluaran
Changes 7/26
These changes were put in to make the chart less busy when the indicator is applied.

  • The text above the arrows has been removed.
  • Arrow shapes have been changed to triangle shapes.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.