Hide Current Bar

6 hari lalu

a lightweight overlay indicator designed to hide the color of the active (unconfirmed) candle on the chart.

Key Features:

Purpose: Hide the color of the currently forming bar (i.e., the active candle) on the price chart.

Psychological Benefit of Hiding the Active Candle’s Color

Hiding the color of the active candle can have notable psychological benefits for traders:

Reduction of Bias: The color of a forming candle often fluctuates as prices move up and down during its formation. This can trigger emotional responses such as fear or greed. By removing the color, traders avoid overreacting to incomplete information and are less likely to jump to conclusions based on transient price moves.

Focus on Confirmed Data: Since only completed candles are relevant for most technical analysis, hiding the color of the active candle encourages traders to make decisions based on fully formed and reliable data rather than noise.

Improved Discipline: By not seeing the color of the active candle, traders are less tempted to enter or exit trades impulsively in reaction to price flickers. This promotes a more systematic and disciplined approach.

Minimized Overtrading: Visual cues like bright green or red candles can prompt hasty trades, particularly in fast-moving markets. A transparent active candle helps reduce the temptation to trade every minor tick, fostering patience.

In summary, by hiding the color of the active candle, this script helps traders maintain emotional neutrality and focus on confirmed price action, leading to better, more rational trading decisions.

6 hari lalu

Nota Keluaran

clean up chart