This is an indicator for counting Sakata new price.
Bullish Candle Count the first bullish candle from the starting point of the uptrend. Count a bullish candle that updates the previous high on a closing basis as a new high.
Bearish Candle New Low Count the first bearish candle from the starting point of the downtrend. Count a bearish candle that updates the previous low on a closing basis as a new low.
Operating Instructions: When you add the indicator to the chart, a message will appear. Click with the mouse to specify the starting point for counting, and the starting point of the counter on the chart will be set. Bullish candle new highs will be displayed with red labels, and bearish candle new lows will be displayed with blue labels.
操作方法 インジケーターをチャートに追加すると、「Sakata New Priceのstarting pointに日時を設定」とメッセージが表示されます。カウントの起点をマウスでクリックして指定すると、チャート上のカウンタの起点がセットされます。陽線新値は赤色のラベル、陰線新値は青色のラベルで表示されます。
Nota Keluaran
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This is a TradingView indicator called "Sakata New Price" This tool counts two different types of new values known as bullish and bearish candlesticks.
Bullish New Values: This indicator counts the first bullish candlestick from the starting point of an uptrend as the first instance. Subsequently, it counts bullish candlesticks that update the previous high based on closing prices as new values. Bearish New Values: Similarly, it counts the first bearish candlestick from the starting point of a downtrend as the initial instance. It then considers bearish candlesticks updating the previous low based on closing prices as new values.
Usage in Trading:
Execution of Strategies for Continuing Trends: The probability of a retracement completing within the first three new values against the trend is 80%. Traders can utilize this information to time entries during these retracements.
Assessment of Medium to Long-Term Trend Continuation Limits: Counting the new values, especially beyond the 10th instance, allows for judgments about the proximity of the trend's end. This information can be used to avoid new entries into the market.
Indicator Operation:
When specifying the starting point for counting, bullish new values are represented with red labels, while bearish new values are displayed with blue labels. The indicator supports interactive mode, allowing users to specify the date and time as the starting point on the chart when adding the indicator. By selecting the indicator and moving the date and time on the chart, users can adjust the starting point for counting.