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Candle Size Compared to ATR

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The "Candle Size Compared to ATR" indicator compares each candle's range to the ATR and colors it based on the strength of its close. Key features include:

  • Strong Candles & ATR Comparison: If a candle's range exceeds the ATR threshold, it is highlighted to indicate potential significant price movement.
  • Double Candle Covering Previous Plot: This feature identifies cases where a two-candle formation covers the previous range and meets ATR conditions, helping spot potential trend continuation or reversal signals.
  • Continuous Reversing Patterns: The indicator tracks reversal attempts by monitoring whether recent strong bullish or bearish candles are reversing previous highs or lows. If a reversal is in progress, it is marked with a colored circle, and an arrow appears when a new reversal starts.


This indicator helps traders quickly spot strong price moves, reversals, and trend continuations based on ATR dynamics.

Penafian

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