Timeframe Status By Demirkan

19 jam lalu

This indicator provides a comprehensive analysis of candlestick statuses across different timeframes (1-hour, 4-hour, daily, and weekly) and visualizes them in a table format on the chart.

Candlestick Status Evaluation:
The indicator evaluates the candlestick status for each of the four timeframes:

Hourly (1H)
Four-Hourly (4H)
Daily (D)
Weekly (W)
It compares the close price with the open price for each timeframe:

If the close price is higher than the open price, the candlestick is considered bullish.
If the close price is lower than the open price, the candlestick is considered bearish.
In case of a neutral situation (e.g., open and close prices are the same), the candlestick is considered neutral.
Candlestick Table:
The indicator shows a table on the chart that summarizes the candlestick status for each timeframe.
For each timeframe (1H, 4H, Daily, Weekly), the table displays:
The status (bullish, bearish, or neutral) represented by:
🟢 (green emoji) for bullish (uptrend).
🔴 (red emoji) for bearish (downtrend).
⚪ (white emoji) for neutral status.
The color of the table cells changes according to the candlestick status:
Green for bullish.
Red for bearish.
Gray for neutral.
Customization Options:
Candlestick Colors: Users can customize the colors for bullish, bearish, and neutral candles.
Table Position: Users can set the position of the candlestick status table on the chart (top-right, top-left, bottom-right, bottom-left).
Table Background Color: The background color of the table can be customized.
Working Principle:
The indicator continuously checks the close and open prices for each timeframe.
It updates the table and displays the corresponding emojis and colors based on the candlestick's trend.
If the current candle in a given timeframe is bullish, it will show a green emoji and green color in the table. If it's bearish, it will show a red emoji and red color. For neutral candles, it will show a white emoji and gray color.
Conclusion:
This indicator allows traders to quickly assess the market sentiment across multiple timeframes. By using this table, traders can have a clear overview of the overall trend in different timeframes at a glance, making it easier to make informed trading decisions.