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Candlestick analysis

Change of Character FanChange of Character Fan Overview The Change of Character Fan is designed to help traders detect shifts (changes of character) in market direction and sentiment before they become fully visible through traditional candlestick analysis. Instead of relying solely on the shape or close of candlesticks, this indicator offers a direct, real-time look at the internal price action occurring within a single bar. This visibility into intrabar dynamics can potentially allow traders to enter or exit trades earlier, minimize false signals, and reduce their dependence on multiple lower-timeframe charts. How it Works: The indicator plots a "fan" consisting of five distinct slope lines within the current bar. Each line represents the internal trend of price movement based on user-defined lower timeframe data intervals. By default, these intervals are set to 3, 5, 8, 13, and 21 samples from 1-second timeframe data. Each line only appears when it has collected the minimum required number of intrabar data points. The fan lines use a progressive opacity scale (lighter to darker), visually highlighting the confidence level or probability of directional continuation within the current bar. At the open of every new bar, the fan disappears completely and gradually reappears as new data is gathered, ensuring clarity and eliminating outdated signals. Understanding the Mathematics: Linear Regression Model This indicator is built around the concept of a linear regression model. Linear regression is a statistical technique used to model and analyze relationships between variables—in this case, time (independent variable) and price (dependent variable). How Linear Regression Works: Linear regression fits a straight line (called a "line of best fit") through a set of data points, minimizing the overall distance between each point and the line itself. Mathematically, this is achieved by minimizing the squared differences (errors) between the observed values (actual prices) and the predicted values (prices on the line). The linear model used here can be expressed in the form: y = mx + b where: 𝑦 y is the predicted price, 𝑥 x represents time (each data sample interval), 𝑚 m is the slope of the line, representing the direction and velocity of the trend, 𝑏 b is the intercept (the theoretical price when x=0). Why a Linear Model is Beneficial in this Indicator: Simplicity and Reliability: Linear regression is simple, robust, and widely accepted as a baseline predictive model. It requires minimal computational resources, providing instant updates in real-time trading conditions. Immediate Directional Feedback: The slope derived from linear regression immediately communicates the directional tendency of recent price action. A positive slope indicates upward pressure, and a negative slope signals downward pressure. Noise Reduction: Even when price fluctuations are noisy or erratic, linear regression summarizes overall direction clearly, making it easier to detect genuine directional shifts (change of character) rather than random price noise. Intrabar Analysis: Traditional candlestick analysis relies on fully formed candles, potentially delaying signals. By using linear regression on very short-term (intrabar) data, traders can detect shifts in momentum more quickly, providing an earlier signal than conventional candle patterns alone. Practical Application: This indicator helps traders to visually identify: Early Trend Reversals: Intrabar analysis reveals momentum shifts potentially signaling reversals before they become obvious on conventional candles. Momentum Continuations: Confidence is gained when all lines in the fan are clearly pointing in the same direction, indicating strong intrabar conviction. Reduced False Signals: Traditional candlestick signals (e.g., hammer candles) sometimes produce false signals due to intrabar noise. By looking directly into intrabar dynamics, traders gain better context on whether candle patterns reflect genuine directional change or merely noise. Important Requirements and Recommendations: Subscription Requirements: A TradingView subscription that supports sub-minute data (e.g., 1-second or 5-second resolution) is strongly recommended. If your subscription doesn't include this data granularity, you must use a 1-minute lower timeframe, significantly reducing responsiveness. In this scenario, it's best suited for a 15-minute or higher chart, adjusting intervals to shorter periods. Live Data Essential: Real-time market data subscription is essential for the accuracy and effectiveness of this indicator. Using delayed data reduces responsiveness and weakens the indicator's primary advantage. Recommended Settings for Different Chart Timeframes: 1-minute chart: Use 1-second lower timeframe intervals (default intervals: 3, 5, 8, 13, 21). 5-minute chart: Adjust to a 5- or 10-second lower timeframe, possibly reducing intervals to shorter periods (e.g., 3, 5, 8, 10, 12). 15-minute or higher charts: Adjust lower timeframe to 1-minute if granular data is unavailable, with reduced interval lengths to maintain responsiveness. Conclusion: The Change of Character Fan empowers traders with early insight into directional shifts within each candle, significantly enhancing reaction speed, signal accuracy, and reducing dependency on multiple charts. Built on robust linear regression mathematics, it combines clarity, responsiveness, and ease-of-use in a powerful intrabar analysis tool. Trade smarter, see sooner, and react faster.
Penunjuk Pine Script®
oleh garysebastianbrowniii
Filled/Unfilled Candles + Gap ZonesFilled unfilled filled candlestick To help traders identify bullish/bearish candles and price gaps that may offer trade opportunities. --- Features: 1. Candle Coloring: Green = Unfilled Bullish Candle (close > open). Red = Filled Bearish Candle (close < open). 2. Gap Detection: Detects Gap-Up (today's open > yesterday's high). Detects Gap-Down (today's open < yesterday's low). 3. Gap Zones: Draws a box around the gap area. If price fills the gap, the box color turns green to confirm. 4. Alerts: Alerts you when a gap is filled, signaling potential reversal or continuation setup.
Penunjuk Pine Script®
oleh DrAmitDhandore
Supertrend Hombrok BotSupertrend Hombrok Bot – Automated Trading Strategy for Dynamic Market Conditions This trading strategy script has been developed to operate automatically based on detailed market conditions. It combines the popular Supertrend indicator, RSI (Relative Strength Index), Volume, and ATR (Average True Range) to determine the best entry and exit points while maintaining proper risk management. Key Features: Supertrend as the Base: Uses the Supertrend indicator to identify the market's trend direction, generating buy signals when the market is in an uptrend and sell signals when in a downtrend. RSI Filter: The RSI is used to determine overbought and oversold conditions, helping to avoid entries in extreme market conditions. Entries are avoided when RSI > 70 (overbought) and RSI < 30 (oversold), reducing the risk of false movements. Volume Filter: The strategy checks if the trading volume is above the average multiplied by a user-defined factor. This ensures that only significant movements, with higher liquidity, are considered. Candle Body Size: The strategy filters only candles with a body large enough relative to the ATR (Average True Range), ensuring that the price movements on the chart have sufficient strength. Risk Management: The bot is configured to operate with an adjustable Risk/Reward Ratio (R:R). This means that for each trade, both Take Profit (TP) and Stop Loss (SL) are adjusted based on the market's volatility as measured by the ATR. Automatic Entries and Exits: The script automatically executes entries based on the specified conditions and exits with predefined Stop Loss and Take Profit levels, ensuring risk is controlled for each trade. How It Works: Buy Condition: Triggered when the market is in an uptrend (Supertrend), the volume is above the adjusted average, the candle body is strong enough, and the RSI is below the overbought level. Sell Condition: Triggered when the market is in a downtrend (Supertrend), the volume is above the adjusted average, the candle body is strong enough, and the RSI is above the oversold level. Alerts: Buy and Sell Alerts are configured with detailed information, including Stop Loss and Take Profit values, allowing the user to receive notifications when trading conditions are met. Capital Management: The capital per trade can be adjusted based on account size and risk profile. Important Note: Always test before trading with real capital: While the strategy has been designed based on solid technical analysis methods, always perform tests in real-time market conditions with demo accounts before applying the bot in live trading. Disclaimer: This script is a tool to assist in the trading process and does not guarantee profit. Past performance is not indicative of future results, and the trader is always responsible for their investment decisions.
Strategi Pine Script®
oleh sidimarvinicius
Compare Strength with SLOPE Description This indicator compares the relative strength between the current asset and a benchmark (e.g., BTC vs. ETH or AAPL vs. SPY) using a linear regression slope of their ratio over time. The ratio is calculated as: close / benchmark A linear regression slope is computed over a user-defined window The slope represents trend strength: if it’s rising, the current asset is outperforming the benchmark Plots Gray Line: The raw ratio between the asset and benchmark Orange Line: The slope of the ratio (shows momentum) Background Color : Green: The asset is significantly stronger than the benchmark Red: The asset is significantly weaker than the benchmark No color: No clear trend Settings Slope Window Length: Number of candles used in the regression (default = 10) Slope Threshold: Sensitivity of trend detection. Smaller values detect weaker trends. Example Use Cases Style Rotation Strategy: Use the slope to determine whether "Growth" or "Value" style is leading. Pair Trading / Relative Performance: Track which asset is leading in a pair (e.g., BTC vs ETH). Factor Timing: Serve as a timing model to allocate between different sectors or factors. Happy trading!
Penunjuk Pine Script®
oleh chentaiyi2
Highlight Candle Body ≤ X Ticks (Customizable)🟠 Indicator Name: Highlight Candle Body ≤ X Ticks (Customizable) Purpose: Highlights candles where the body size (|open - close|) is less than or equal to a user-defined number of ticks — useful for spotting low-momentum or indecision candles across different futures instruments. Features: ✅ Works with any instrument (CL, NG, HG, etc.) 🔧 Customizable tick size and max tick count 🎨 Adjustable highlight color 📏 Only measures the candle body, ignoring wicks Use case: Quickly identifies small-body candles that may signal pauses, traps, or setups before potential moves — especially helpful in volume-based or structure-based trading strategies.
Penunjuk Pine Script®
oleh belangoren
Custom Cancel Size PatternObjective: This TradingView indicator identifies a specific 3-candle pattern based on candle size (measured using True Range) and highlights the third candle (or later) when the pattern is complete. --- The 3-Candle Pattern Logic: 1. Candle 1 (two candles ago) Its True Range (TR) must be greater than the current Average True Range (ATR). This means it's a relatively large candle — we're looking for strong movement here. 2. Candle 2 (one candle ago) Its TR must be less than the ATR. This suggests a "cooling off" or a smaller move. 3. Candle 3 (the current candle) Its TR must be at least 2 times bigger than Candle 2's TR. This means a breakout or strong move again, following the smaller candle. --- What the Indicator Does: Detects this 3-candle pattern as new candles form. Highlights the third candle (the current one) with a green color and a label beneath it that says "Pattern". Optionally colors the bar green (you can customize this if you want a different visual style). --- What You’ll See on the Chart: When the conditions are met: A green bar (if bar coloring is enabled). A label below the bar that says “Pattern” appears under the third candle.
Penunjuk Pine Script®
oleh DrAmitDhandore
Umesh BC IST 3:30 AM Session Tracker + 4H Candles📌 IST 3:30 AM Session Tracker + 4H Candle Marker This indicator is designed for traders who follow Indian Standard Time (IST) and want precise session tracking and 4H candle insights. 🔧 Features: 🕒 Daily Session Start at 3:30 AM IST Automatically detects and marks the beginning of each new trading day based on 3:30 AM IST, not midnight. Displays session Open, High, and Low lines. Background shading for each session. Customizable alert when a new day starts. 🟧 4H Candle Start Markers (IST Time) Identifies every new 4-hour candle that starts at: 3:30, 7:30, 11:30, 3:30 PM, 7:30 PM, 11:30 PM IST Adds a vertical line and label ("🟧 4H") above the candle. Plots a dynamic line for the 4H candle's opening price. Includes optional alert for new 4H candles. 🔔 Alerts Included: "🕒 New IST Day Start": Triggers at 3:30 AM IST. "🟧 New 4H Candle": Triggers at each 4H candle start (IST). ✅ Best for: Intraday, swing, and institutional traders using IST-based analysis. Those wanting more accurate daily sessions and clear candle structuring.
Penunjuk Pine Script®
oleh daksaamedia
Session Breakouts & Trend Indicator# Session Breakouts & Trend Indicator This indicator identifies high-probability trading opportunities by tracking key intraday sessions and their breakouts while aligning them with the overall market trend direction. ## What Makes This Indicator Unique Unlike standard breakout indicators that only identify when price crosses a threshold, this indicator: - Dynamically identifies and tracks important daily sessions (default: AM 09:00-10:00 and PM 15:00-16:00) - Determines trend direction using a triple EMA system (20/50/200) - Shows when breakouts align with the overall trend (higher probability setups) - Provides visual confirmation with session ranges, breakout levels, and background highlighting - Includes a comprehensive information panel showing trend/session alignment ## How It Works The indicator tracks two important daily sessions: 1. **AM Session**: Typically the first hour of trading (default: 09:00-10:00) 2. **PM Session**: Typically the last hour of trading (default: 15:00-16:00) For each session, it: - Marks the high and low range - Establishes breakout levels above/below these ranges - Detects when price breaks beyond these levels - Determines if the breakout aligns with the prevailing trend The trend is calculated using three EMAs (20, 50, 200) for reliable trend identification. ## How To Use 1. Apply the indicator to your chart (works best on 5-minute timeframes) 2. Adjust session times to match your trading schedule if needed 3. Watch for breakouts above session highs (bullish) or below session lows (bearish) 4. Check the information panel to see if the breakout aligns with the trend 5. Enter trades in the direction of trend-aligned breakouts for higher probability setups 6. Set stop losses below the opposite side of the session range ## Settings - **Session Times**: Customize AM and PM session times - **EMA Lengths**: Adjust trend determination sensitivity - **Visualization Options**: Toggle display of sessions, breakouts, and VWAP - **Alert Settings**: Configure alerts for breakouts and trend-aligned conditions This indicator is valuable for day traders and swing traders looking for objective entry points with higher probability of success.
Penunjuk Pine Script®
oleh patrickamp
Volume Range Profile with Fair Value (SWAROOPRAM29)This indicator overlays a custom volume profile across two dynamic price zones (upper and lower) within a defined lookback range. It highlights the Point of Control (POC) for each zone — the price level with the highest traded volume — and tracks its movement over time to help identify fair value areas. 🔍 Features: Dynamic Volume Zones: Automatically calculates upper/lower zones based on a % of the high-low range. Granular Volume Distribution: Visualizes buy/sell volume using histogram bins inside each zone. Point of Control (POC): Shows the most active volume bin with optional percentage breakdown (Buy %, Sell %, Total). Fair Value Drift Line: Plots a moving average of POC to track fair value shifts. Total Volume Labels: Optionally display total buy/sell volume in each zone. Trade Entry Logic (Strategy): Entry on POC touch or midline level. Supports long, short, or both directions. Customizable take profit and stop loss levels. This tool helps traders spot high-volume price acceptance areas, potential reversals, and trend continuations based on volume-weighted logic — ideal for scalping, swing, and volume-based strategies. brings Smart Money Concept (ICT) session logic to life by plotting key global trading sessions with volume and delta analytics. It not only highlights session ranges but also tracks their midpoints — which often act as intraday support/resistance levels. KEY FEATURES Visual session boxes: Plots boxes for Tokyo, London, New York, and Sydney sessions based on user-defined UTC+0 time ranges. Volume & delta metrics: Displays total volume and delta volume (buy–sell difference) within each session. Mid, High & Low Range Extension: Once a session ends, the high, low, and midpoint levels automatically extend — ideal for detecting SR zones. Session labels: Each box includes a label with session name, time, volume, and delta for quick reference. Custom session control: Enable or disable sessions individually and configure start/end times. Clean aesthetics: Transparent shaded boxes with subtle borders make it easy to overlay without clutter. Sessions Dashboard: Shows the time range of each session and tells you whether the session is currently active. 🔵 USAGE Enable the sessions you want to monitor (e.g., New York or Tokyo) from the settings. Use session volume and delta values to gauge the strength and direction of institutional activity. Watch for price interaction with the extended range — it often acts as dynamic support/resistance after the session ends. Overlay it with liquidity tools or breaker blocks for intraday strategy alignment. 🔵 EXAMPLES Extended Future Range acted as resistance/support.
Strategi Pine Script®
oleh Swaroopram29