Boring with Ok Legin

3 hari lalu

This TradingView Pine Script highlights “boring” candles that immediately follow a more moderately strong “legin” candle, using relaxed price action and supply/demand zone criteria.

A candle is highlighted if all these conditions are satisfied:
1. Boring Candle (Current Bar):
- The total wick size (upper + lower) is greater than its body size.
- The candle’s ATR (Average True Range) is greater than its TR (True Range), identifying it as “boring” (constricted movement).

2. OK Legin Candle (Previous Bar):
- The previous candle’s TR is at least 1.5× the current candle’s TR, or its size (high-low) is at least 1.5× the size of the current boring candle (shows moderate expansion).
- The previous candle’s body is at least 45% of its full size (not just all wick).
- The previous candle has a wick on its closing side (indicating some price rejection).

3. No Visual Gap Rule:
- There is no significant gap between the previous legin’s close and the current boring candle’s open.

The allowed gap is adaptive:
Usually 7% of the legin’s body size,
but always at least 0.1×ATR and never more than 2×ATR,
ensuring visual continuity no matter the size of the legin candle.

3 jam lalu

Nota Keluaran

• Current candle is "boring" (ATR > TR).
  
• Previous candle is "ok legin" (TR[1] > ATR[1] and is at least 1.5× bigger in TR or size).
  
• Previous legin’s body is at least 45% of its full size.
  
• Previous legin has a wick on the close side.
  
• There is no visually significant gap between the previous close and current open (with adaptive threshold).