This indicator Colors in candles if there are 3 or more consecutive bearish or bullish candles. If you are familiar with the BTMM/Stacey Burke Trading concept of expecting a stop hunt after 3 cycles of rise/fall this indicator may be useful to you.
I'm new to coding/making indicators so the code may not be as polished so please bare with me, I am in the process of learning :) Eventually I'll make it so that you can edit the minimum and maximum number of candles needed for it to be colored, but it may take a long time lol.
Also by adding these two lines after line 24 you create alerts:- alertcondition(three_bull, title='3 Bull', message='3 Bull') alertcondition(three_bear, title='3 Bear', message='3 Bear')
abiolaolaleye00
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@CompoundTraders, can I get this script (with alerts)from you?. I'm not good at coding. Kindly help me out if you can. Thanks
CompoundTraders
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@abiolaolaleye00, Hello thank you for reaching out. Can you provide information of the setup and what outcomes you would like achieved?
CompoundTraders
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Very awesome and part a great strategy.
Gia26
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Thank you for sharing! how would the script look like for 2 or more bull candles followed by at least 1 bear candle? And the opposite, 2 or more bear candles followed by at least 1 bull candle? So, two or more of the same colour & one different colour
andrewwhitehead
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Thank you for this, I'm finding it useful. Is there an update that could be done to include alerts?
alertcondition(three_bull, title='3 Bull', message='3 Bull')
alertcondition(three_bear, title='3 Bear', message='3 Bear')