Shark Candles Indicator | TCMaster

📌 Description:
The Shark Candles Indicator is a price-action and volume-based tool designed to detect high-impact candles — known as "Shark Candles" — that suggest potential institutional activity or sudden volatility spikes.

It identifies candles on a higher timeframe (HTF) that exhibit:
Unusually high volume,
A strong body relative to the candle’s wicks,
A large price range compared to recent history.

Once such a candle is detected, the "Shark Zone" is created and drawn as a high-probability price area where future reactions (support or resistance) may occur. This zone remains active for a set number of bars or until another Shark Candle is detected.

⚙️ How It Works:
Shark Candle Detection Criteria:
Volume Spike: Volume is greater than the highest volume of the previous N bars.
Large Body: The candle's body is significantly larger than its combined wicks.
Range Expansion: The candle’s range exceeds the average range over the past N bars.

Shark Zone Formation:
The high and low of the Shark Candle are used to define the zone.
This zone remains until a new Shark Candle appears or the configured reset period expires.
The zone is shaded in teal, providing a visual cue for potential trading interest.

Shark Icon Label:
When a Shark Candle is detected, a 🦈 icon is displayed above the candle for easy spotting.

🔧 User Inputs:
Analysis Timeframe: Choose the higher timeframe used for detecting Shark Candles (default: 15 minutes).
Volume Spike Lookback: Number of candles to compare volume against (default: 20).
Body/Wick Ratio: Minimum ratio between the candle body and total wick size (default: 1.5).
Range Multiplier vs Avg Range: Threshold multiplier to qualify a candle's size compared to the recent average range (default: 1.5).
Reset Shark Zone After N Bars: Maximum number of bars the zone remains active without a new Shark Candle (default: 100).
Show Shark Zone: Toggle zone display on/off.

📈 Visual Elements:
Shark Zone:
Upper boundary (green line)
Lower boundary (red line)
Teal shaded background between zone boundaries
🦈 Label above each Shark Candle for quick visual recognition

🛠️ Usage Tips:
Use Shark Zones as dynamic support/resistance areas.
Combine with volume profile, breakout strategies, or candlestick patterns.
Useful in all markets including stocks, crypto, and forex.
Best suited for scalpers and swing traders looking for institutional footprints.

⚠️ Disclaimer:
This indicator is for educational and informational purposes only. It does not constitute financial advice or a guarantee of future performance. Always do your own research and apply proper risk management.