Candle Pressure Visualization

17 Jan

Candle Pressure Visualization:

This TradingView indicator visualizes buying and selling pressure, highlighting extreme market sentiment through custom thresholds, color-coded candles, and histograms.

Features Overview
Custom Thresholds:
Allows you to set thresholds for buying and selling pressure (default: 70 and 90).
Buying & Selling Pressure:
Calculates pressure based on the relative position of the close price to the high and low prices of the candle.
Color-Coded Candles:
Enhances candle colors to highlight extreme pressures.
Histograms:
Displays buying and selling pressure as columns.
Extreme Pressure Markers:
Adds visual markers for areas of strong buying or selling.
his script visualizes buying and selling pressure on a TradingView chart, giving a unique perspective on market sentiment. Here's a breakdown of its functionality:

Features
Inputs for Customization

Users can set thresholds for buying and selling pressure (default: 70 and 90, respectively).
Buying and Selling Pressure Calculation

Buying pressure is calculated as the relative distance of the close price from the low.
Selling pressure is the relative distance of the close price from the high.
Handles edge cases like doji candles (where high equals low) by assigning a neutral value of 50%.
Color-Coded Candles

Bullish candles: Enhanced with a bright green (lime) if buying pressure exceeds the threshold.
Bearish candles: Enhanced with a dark red (maroon) if selling pressure exceeds the threshold.
Neutral candles: Gray for doji or balanced sentiment.
Pressure Histograms

Displays buying and selling pressure as column-style histograms with semi-transparent green and red colors.
Markers for Extreme Pressure

Labels highlight areas of extreme buying or selling pressure using small markers at the top or bottom of the chart.
Alerts

Alerts are triggered when buying or selling pressure crosses user-defined thresholds, providing actionable notifications.
Optional Total Pressure Plot

A combined plot of total pressure (buying + selling) is hidden by default for simplicity but can be enabled if needed.

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17 Jan

Nota Keluaran

*** Minor update