Charles PO3

# Charles PO3 - Release Notes

## 📊 Introduction

**Charles PO3** is a powerful PO3 (Power of 3) indicator designed for traders who need to simultaneously observe **Higher Time Frame (HTF)** price action on **Lower Time Frame (LTF)** charts.

This indicator draws multiple HTF candles on the right side of the chart and connects the current price to the HTF **Open, High, and Low** with dynamic projection lines. It helps you:

- View **Daily/Weekly** structure on a minute chart.
- Track HTF key price levels in **real time**.
- Better understand **multi-timeframe trend relationships**.
- Improve **timeframe consistency** in your trading decisions.

**Applicable Markets**: Forex, Futures, Stocks, Cryptocurrencies, and all other financial markets.

This script is based on the [HTF Candle Projections](google.com/search?q=url=https://www.tradingview.com/script/zFCniKhU-HTF-Candle-Projections/) created by [modhelius](google.com/search?q=url=https://www.tradingview.com/u/modhelius/).

This indicator is released under TradingViews default license (Mozilla Public License 2.0)
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## ✨ Core Features

### 🕐 Smart Timeframe Management

- **Automatic Timeframe Selection**: Automatically selects a suitable HTF based on the current chart period (optionally 1 or 2 levels of progression).
- **Manual Timeframe**: Supports custom selection of any timeframe (15 minutes, 1 hour, 4 hours, Daily, Weekly, etc.).
- **Custom Opening Time**: Supports custom HTF candle opening time and timezone (useful for non-standard trading sessions).

### 📈 Candle Display

- **Configurable Quantity**: Display 1-20 HTF candles (default 5).
- **Three Sizes**: Small, Medium, Large candles available.
- **Two Types**:
  - Standard Candles
  - Heikin Ashi (Smoothed Candles)
- **Custom Colors**:
  - Bullish (Up) Candles: Independent color settings for body, wick, and border.
  - Bearish (Down) Candles: Independent color settings for body, wick, and border.
- **Position Adjustment**: Adjustable offset from the right edge of the chart and spacing between candles.

### 🎯 Dynamic Projection Lines

- **Open Price Projection**: Extends from the HTF Open price to the center of the current candle.
- **High/Low Projection**: Extends from the HTF High/Low to the center of the current candle.
- **Real-Time Updates**: Projection lines automatically update their starting point upon price breakthrough.
- **Customizable Style**:
  - Three line styles: Solid, Dashed, Dotted.
  - Adjustable color and width.
  - Independent On/Off switches.

### 🏷️ OHLC Price Labels

- **Real-Time Price Display**: Shows O/H/L/C prices to the right of the latest HTF candle.
- **Six Font Sizes**: Auto, Tiny, Small, Normal, Large, Huge.
- **Follows Candle Movement**: Label position updates dynamically with the candle.

### 🕒 Smart Time Labels

- **Adaptive Format**:
  - **Daily**: Displays the day of the week (Mon, Tue, Wed...).
  - **Weekly**: Displays Month-Day (10-05, 10-12...).
  - **Other Timeframes**: Displays Hour:Minute (14:30, 21:00...).
- **Asset Type Recognition**:
  - **Forex/Futures**: Automatically adjusts to display trading days (Mon-Fri).
  - **Crypto**: Displays actual date (7 days a week).
- **Center Alignment**: Time label is positioned below the center of the candle.
- **Customizable Color**: Supports adjusting text color (default gray).

### 📊 HTF Data Mode

- **Weekly**: Only use HTF data to generate projections when on a weekly chart.
- **Always**: Always use HTF data.
- **Never**: Always use LTF data to construct the HTF candles.

### 🐛 Debug Tools

- **Debug Table**: Real-time display of indicator status (parameters, candle count, label count, etc.).
- **Pine Logs**: Detailed logs for timestamp conversions and label creation.
- **Optional Switch**: Debug features can be disabled in a production environment to improve performance.

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## ⚙️ Parameter Descriptions

### 📁 Settings (Basic Settings)

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Timeframe** | Timeframe | Blank (Auto) | Sets the HTF timeframe; leave blank for automatic selection. |
| **Set Automatically** | Boolean | ✅ | Enables automatic timeframe selection. |
| **Two Levels** | Boolean | ✅ | Use 2 levels of progression (e.g., 15min→4H); off uses 1 level (15min→1H). |
| **Number of HTF Candles** | Integer | 5 | Number of HTF candles to display (1-20). |
| **Offset** | Integer | 10 | Bar offset of the candle group from the right edge of the chart. |
| **Size** | Option | Medium | Candle size: Small / Medium / Large. |
| **Type** | Option | Candles | Candle type: Candles (Standard) / Heikin Ashi (Smoothed). |
| **Margin** | Integer | 1 | Spacing between candles (in bars). |
| **Use HTF data to generate candles** | Option | Weekly | Weekly / Always / Never. |

### 🟢 Up Candles (Bullish Candles)

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Body** | Color | \#6ba583 | Color for the bullish candle body. |
| **Wick** | Color | Black | Color for the bullish candle wick. |
| **Border** | Color | Black | Color for the bullish candle border. |

### 🔴 Down Candles (Bearish Candles)

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Body** | Color | \#d75442 | Color for the bearish candle body. |
| **Wick** | Color | Black | Color for the bearish candle wick. |
| **Border** | Color | Black | Color for the bearish candle border. |

### 📏 Projections (Projection Lines & Labels)

#### Open Price Projection Line

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Open** | Boolean | ✅ | Show Open price projection line. |
| ⚫ **Color** | Color | Translucent Black | Open price line color. |
| **Style** | Option | Dotted | Solid / Dotted / Dashed. |
| **Width** | Integer | 1 | Line width (1-5). |

#### High/Low Projection Lines

| Parameter | Type | Default | Description |
|---|---|---|---|
| **High/Low** | Boolean | ✅ | Show High/Low projection lines. |
| ⚫ **Color** | Color | Translucent Black | High/Low line color. |
| **Style** | Option | Dotted | Solid / Dotted / Dashed. |
| **Width** | Integer | 1 | Line width (1-5). |

#### OHLC Price Labels

| Parameter | Type | Default | Description |
|---|---|---|---|
| **OHLC Prices** | Boolean | ✅ | Show price labels. |
| ⚫ **Color** | Color | Translucent Black | Text color. |
| **Size** | Option | Auto | Auto / Tiny / Small / Normal / Large / Huge. |

#### HTF Time Labels

| Parameter | Type | Default | Description |
|---|---|---|---|
| **HTF Time** | Boolean | ✅ | Show time labels. |
| **Time Label Color** | Color | Gray | Time text color. |

### 🕐 Custom Opening Time (Custom Opening Time)

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Use Custom Opening Time?** | Boolean | ❌ | Enable custom opening time. |
| **Timezone** | Option | Exchange | Timezone selection (using Timezone library). |
| **Time (hh:mm)** | Time | 02:00 | Custom opening time (hour:minute). |

### 🐛 Debug (Debugging)

| Parameter | Type | Default | Description |
|---|---|---|---|
| **Enable Debug Info** | Boolean | ❌ | Enable Pine Logs for detailed logging. |
| **Show Debug Table** | Boolean | ✅ | Display the debug info table in the top right corner. |

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## 🎓 Usage Recommendations

### Recommended Timeframe Combinations

- **1-Minute Chart** → HTF: 15 Minutes
- **5-Minute Chart** → HTF: 1 Hour
- **15-Minute Chart** → HTF: 4 Hours
- **1-Hour Chart** → HTF: Daily
- **4-Hour Chart** → HTF: Weekly
- **Daily Chart** → HTF: Weekly/Monthly

### Best Practices

1. **Trend Trading**: Use the Daily HTF on a 1-Hour chart to ensure you are trading with the higher-timeframe trend.
2. **Support/Resistance**: The HTF High/Low projection lines serve as natural support and resistance levels.
3. **Open Breakout**: Observe the HTF Open price projection line to catch directional breakouts after the open.
4. **Time Synchronization**: Use the time labels to understand the lifecycle stage of the HTF candle.
5. **Multi-Timeframe Confirmation**: Observe multiple HTF candles simultaneously to confirm trend consistency.

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## 📌 Version Information

- **Version**: 1.0
- **Pine Script**: v6
- **Dependency Library**: `n00btraders/Timezone/1`
- **Chart Limitations**:
  - Max historical bars: 500
  - Max Box objects: 500
  - Max Label objects: Default (TradingView limit)

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**Happy Trading\! 📈**