Pullback Candles (Candlestick Analysis) Guaranteed Winners!!!!Pullback Candle will signal when price is at the end of a pullback and entering a balance phase in the market (works on all markets)
Also we can expect a Pullback Candle during flash crashes as the theory of this script is when there is a turning point in momentum - this candle will appear and we can look long from this signal.
This candle will only work in Swing Low areas and appear when below an moving average which can be changed in the settings.
This candle will work on all timeframes - HTF provided very good rexpectancy whereas the LTF has a slightly less expectancy.
This candle can be alerted to signal the Pullback Candle when the bar is confirmed and not during.
The way i trade this candle is
1) Candle signal must be in probably area to increase efficiency.
2) Enter on the second candle after candle IS CONFIRMED
3) Set stop loss below Pullback Candle or use ATR value
4) Trade with the trend ie only bullish price action
5) This candle can catch falling knifes - we had one on LUNA before the rally to $7.50
6) Trading with a confluence along with the Pullback is better than solely trading this candle
Please leave a comment.
If we get to 100 likes i will publish the script.
Have a good weekend :)
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Volume Delta Candles HTF [TradingFinder] LTF Volume Candles 🔵 Introduction
In financial markets, understanding the concepts of supply and demand and their impact on price movements is of paramount importance. Supply and demand, as fundamental pillars of economics, reflect the interaction between buyers and sellers.
When buyers' strength surpasses that of sellers, demand increases, and prices tend to rise. Conversely, when sellers dominate buyers, supply overtakes demand, causing prices to drop. These interactions play a crucial role in determining market trends, price reversal points, and trading decisions.
Volume Delta Candles offer traders a practical way to visualize trading activity within each candlestick. By integrating data from lower timeframes or live market feeds, these candles eliminate the need for standalone volume indicators.
They present the proportions of buying and selling volume as intuitive colored bars, making it easier to interpret market dynamics at a glance. Additionally, they encapsulate critical metrics like peak delta, lowest delta, and net delta, allowing traders to grasp the market's internal order flow with greater precision.
In financial markets, grasping the interplay between supply and demand and its influence on price movements is crucial for successful trading. These fundamental economic forces reflect the ongoing balance between buyers and sellers in the market.
When buyers exert greater strength than sellers, demand dominates, driving prices upward. Conversely, when sellers take control, supply surpasses demand, and prices decline. Understanding these dynamics is essential for identifying market trends, pinpointing reversal points, and making informed trading decisions.
Volume Delta Candles provide an innovative method for evaluating trading activity within individual candlesticks, offering a simplified view without relying on separate volume indicators. By leveraging lower timeframe or real-time data, this tool visualizes the distribution of buying and selling volumes within a candle through color-coded bars.
This visual representation enables traders to quickly assess market sentiment and understand the forces driving price action. Buyer and seller strength is a critical concept that focuses on the ratio of buying to selling volumes. This ratio not only provides insights into the market's current state but also serves as a leading indicator for detecting potential shifts in trends.
Traders often rely on volume analysis to identify significant supply and demand zones, guiding their entry and exit strategies. Delta Candles translate these complex metrics, such as Maximum Delta, Minimum Delta, and Final Delta, into an easy-to-read visual format using Japanese candlestick structures, making them an invaluable resource for analyzing order flows and market momentum.
By merging the principles of supply and demand with comprehensive volume analysis, tools like the indicator introduced here offer unparalleled clarity into market behavior. This indicator calculates the relative strength of supply and demand for each candlestick by analyzing the ratio of buyers to sellers.
🔵 How to Use
The presented indicator is a powerful tool for analyzing supply and demand strength in financial markets. It helps traders identify the strengths and weaknesses of buyers and sellers and utilize this information for better decision-making.
🟣 Analyzing the Highest Volume Trades on Candles
A unique feature of this indicator is the visualization of price levels with the highest trade volume for each candlestick. These levels are marked as black lines on the candles, indicating prices where most trades occurred. This information is invaluable for identifying key supply and demand zones, which often act as support or resistance levels.
🟣 Trend Confirmation
The indicator enables traders to confirm bullish or bearish trends by observing changes in buyer and seller strength. When buyer strength increases and demand surpasses supply, the likelihood of a bullish trend continuation grows. Conversely, decreasing buyer strength and increasing seller strength may signal a potential bearish trend reversal.
🟣 Adjusting Timeframes and Calculation Methods
Users can customize the indicator's candlestick timeframe to align with their trading strategy. Additionally, they can switch between moving average and current candle modes to achieve more precise market analysis.
This indicator, with its accurate and visual data display, is a practical and reliable tool for market analysts and traders. Using it can help traders make better decisions and identify optimal entry and exit points.
🔵 Settings
Lower Time Frame Volume : This setting determines which timeframe the indicator should use to identify the price levels with the highest trade volume. These levels, displayed as black lines on the candlesticks, indicate prices where the most trades occurred.
It is recommended that users align this timeframe with their primary chart’s timeframe.
As a general rule :
If the main chart’s timeframe is low (e.g., 1-minute or 5-minute), it is better to keep this setting at a similarly low timeframe.
As the main chart’s timeframe increases (e.g., daily or weekly), it is advisable to set this parameter to a higher timeframe for more aligned data analysis.
Cumulative Mode :
Current Candle : Strength is calculated only for the current candlestick.
EMA (Exponential Moving Average) : The strength is calculated using an exponential moving average, suitable for identifying longer-term trends.
Calculation Period : The default period for the exponential moving average (EMA) is set to 21. Users can modify this value for more precise analysis based on their specific requirements.
Ultra Data : This option enables users to view more detailed data from various market sources, such as Forex, Crypto, or Stocks. When activated, the indicator aggregates and displays volume data from multiple sources.
🟣 Table Settings
Show Info Table : This option determines whether the information table is displayed on the chart. When enabled, the table appears in a corner of the chart and provides details about the strength of buyers and sellers.
Table Size : Users can adjust the size of the text within the table to improve readability.
Table Position : This setting defines the table’s placement on the chart.
🔵 Conclusion
The indicator introduced in this article is designed as an advanced tool for analyzing supply and demand dynamics in financial markets. By leveraging buyer and seller strength ratios and visually highlighting price levels with the highest trade volume, it aids traders in identifying key market zones.
Key features, such as adjustable analysis timeframes, customizable calculation methods, and precise volume data display, allow users to tailor their analyses to market conditions.
This indicator is invaluable for analyzing support and resistance levels derived from trade volumes, enabling traders to make more accurate decisions about entering or exiting trades.
By utilizing real market data and displaying the highest trade volume lines directly on the chart, it provides a precise perspective on market behavior. These features make it suitable for both novice and professional traders aiming to enhance their analysis and trading strategies.
With this indicator, traders can gain a better understanding of supply and demand dynamics and operate more intelligently in financial markets. By combining volume data with visual analysis, this tool provides a solid foundation for effective decision-making and improved trading performance. Choosing this indicator is a significant step toward refining analysis and achieving success in complex financial markets.
RSI Candlestick Oscillator [LuxAlgo]The RSI Candlestick Oscillator displays a traditional Relative Strength Index (RSI) as candlesticks. This indicator references OHLC data to locate each candlestick point relative to the current RSI Value, leading to a more accurate representation of the Open, High, Low, and Close price of each candlestick in the context of RSI.
In addition to the candlestick display, Divergences are detected from the RSI candlestick highs and lows and can be displayed over price on the chart.
🔶 USAGE
Translating candlesticks into the RSI oscillator is not a new concept and has been attempted many times before. This indicator stands out because of the specific method used to determine the candlestick OHLC values. When compared to other RSI Candlestick indicators, you will find that this indicator clearly and definitively correlates better to the on-chart price action.
Traditionally, the RSI indicator is simply one running value based on (typically) the close price of the chart. By introducing high, low, and open values into the oscillator, we can better gauge the specific price action throughout the intrabar movements.
Interactions with the RSI levels can now take multiple forms, whether it be a full-bodied breakthrough or simply a wick test. Both can provide a new analysis of price action alongside RSI.
An example of wick interactions and full-bodied interactions can be seen below.
As a result of the candlestick display, divergences become simpler to spot. Since the candlesticks on the RSI closely resemble the candlesticks on the chart, when looking for divergence between the chart and RSI, it is more obvious when the RSI and price are diverging.
The divergences in this indicator not only show on the RSI oscillator, but also overlay on the price chart for clearer understanding.
🔹 Filtering Divergence
With the candlesticks generating high and low RSI values, we can better sense divergences from price, since these points are generally going to be more dramatic than the (close) RSI value.
This indicator displays each type of divergence:
Bullish Divergence
Bearish Divergence
Hidden Bullish Divergence
Hidden Bearish Divergence
From these, we get many less-than-useful indications, since every single divergence from price is not necessarily of great importance.
The Divergence Filter disregards any divergence detected that does not extend outside the RSI upper or lower values.
This does not replace good judgment, but this filter can be helpful in focusing attention towards the extremes of RSI for potential reversal spotting from divergence.
🔶 DETAILS
In order to get the desired results for a display that resembles price action while following RSI, we must scale. The scaling is the most important part of this indicator.
To summarize the process:
Identify a range on Price and RSI
Consider them as equal to create a scaling factor
Use the scaling factor to locate RSI's "Price equivalent" Upper, Lower, & Mid on the Chart
Use those prices (specifically the RSI Mid) to check how far each OHLC value lies from it
Use those differences to translate the price back to the RSI Oscillator, pinning the OHLC values at their relative location to our anchor (RSI Mid)
🔹 RSI Channel
To better understand, and for your convenience, the indicator includes the option to display the RSI Channel on the chart. This channel helps to visualize where the scaled RSI values are relative to price.
If you analyze the RSI channel, you are likely to notice that the price movement throughout the channel matches the same movement witnessed in the RSI Oscillator below. This makes sense since they are the exact same thing displayed on different scales.
🔹 Scaling the Open
While the scaling method used is important, and provides a very close view of the real price bar's relative locations on the RSI oscillator… It is designed for a single purpose.
The scaling does NOT make the price candles display perfectly on the RSI oscillator.
The largest place where this is noticeable is with the opening of each candle.
For this reason, we have included a setting that modifies the opening of each RSI candle to be more accurate to the chart's price candles.
This setting positions the current bar's opening RSI candlestick value accurately relative to the price's open location to the previous closing price. As seen below.
🔶 SETTINGS
🔹 RSI Candles
RSI Length: Sets the Length for the RSI Oscillator.
Overbought/Oversold Levels: Sets the Overbought and Oversold levels for the RSI Oscillator.
Scale Open for Chart Accuracy: As described above, scales the open of each candlestick bar to more accurately portray the chart candlesticks.
🔹 Divergence
Show on Chart: Choose to display divergence line on the chart as well as on the Oscillator.
Divergence Length: Sets the pivot width for divergence detection. Normal Fractal Pivot Detection is used.
Divergence Style: Change color and line style for Regular and Hidden divergences, as well as toggle their display.
Divergence Filter: As described above, toggle on or off divergence filtering.
🔹 RSI Channel
Toggle: Display RSI Channel on Chart.
Color: Change RSI Channel Color
No Wick Setup Indicator
**No Wick Setup Indicator**
This is a custom trading indicator designed to identify and signal potential buy and sell opportunities based on candlestick patterns with no wicks. Specifically, it looks for candles with no wicks at the bottom (bullish setup) or no wicks at the top (bearish setup). Here's how it works:
**Key Features:**
- **Bullish Setup**: A green candlestick with no bottom wick (i.e., the open price is equal to the low price of the candle) is considered a potential bullish signal. A trendline is drawn at the bottom of this candle. When the market price returns to this trendline, a buy signal is generated.
- **Bearish Setup**: A red candlestick with no top wick (i.e., the open price is equal to the high price of the candle) is considered a potential bearish signal. A trendline is drawn at the top of this candle. When the market price returns to this trendline, a sell signal is generated.
- **Timeframe**: This indicator works exclusively on the **30-minute timeframe**.
**How It Works:**
1. When a candlestick pattern with no bottom wick (bullish setup) is identified, a trendline is drawn at the low of the candlestick.
2. When a candlestick pattern with no top wick (bearish setup) is identified, a trendline is drawn at the high of the candlestick.
3. The indicator then tracks the market price and waits for it to return to the respective trendline level.
4. **Buy Signal**: When the market price touches or goes below the bullish trendline, a **Buy** signal is displayed on the chart with an upward arrow.
5. **Sell Signal**: When the market price touches or goes above the bearish trendline, a **Sell** signal is displayed on the chart with a downward arrow.
**Visual Elements:**
- **Trendlines**: Horizontal lines drawn at the bottom (bullish) or top (bearish) of the candlesticks with no wick.
- **Buy/Sell Labels**: Labels indicating "Buy" or "Sell" appear when the market price returns to the trendline.
**Why Use This Indicator?**
- This indicator helps identify specific price levels where the market might reverse or consolidate based on candlestick structure, offering potential entry points for trades.
- It allows traders to focus on price action and market behavior without relying on more complex indicators.
Candle Patterns Ver.2When someone decided to start trading the first thing we learn is how to read and understand the candlesticks. This little "boxes" with sticks tell us how the market sentiment and they can be used to "predict" future moves. I put predict inside a quotation marks because I would say predict the market is almost an utopia and we all know the reason.
Anyway with a good understand in reading the candlesticks with other indicators(like momentum or even a MA) can give us some edge when analyzing an instrument.
Since we have a lot of candlesticks types I did some back test and figured out that for my strategy that three candlestick types works very well. I will briefly describe then.
Engulfing Bar
This type of candlestick shows us a potential reversal based on the previous bar.
A bullish Engulfing has the close higher than the open it works better if the previous one is a bearish bar(open higher than close) and it is at a Support level. The body of the Engulfing bar should "engulf" the full body of the previous bar. If all parameters(previous bearish bar at Support level after a downtrend move) this Engulfing will represents a reversal move. When I say reversal it could means a pullback reversal(if the past trend is downtrend) or if the previous downtrend is a pullback from a past uptrend. In any way the previous bearish followed by an bullish Engulfing in general leads for an upward move.
The same picture applies to a previous bullish bar followed by an bearish Engulfing bar that if appears at the Resistance level will lead to a downward move.
One thing that is worth to mention is in a downward(or upward) move we have a small bullish bar followed by a bullish Engulfing this situation may lead to a continuation, not reversal.
Pinbar Bar:
This is another candlestick type that represents possible reversal. The Pinbar candle show a small(or medium) size but the important part is the size of the stick. If the stick is the upper one and has the size of 2 times the size of the body, it is a bearish bars and it appears after an uptrend move it represents that the buyers are losing momentum so we can expect a reversal move. When this type of bar appears after a downward move, it is a bullish bars but the stick is the lower one and has the size of two times of the body it will represents a bullish reversal. In this picture this candle is called a "Hammer".
So based on that I develop an indicator that shows me these 2 bars types and makes easy to identify with the other indicator possible entries.
Please feel free for a constructive comments and hope it help any one whe trading. Candlestick are the fundamentals of Price action.
You all have a great trading new week.
Wickiness IndexWickiness Index - Detect Indecision and Trend Exhaustion
The Wickiness Index is a versatile technical indicator designed to measure the proportion of wicks (upper and lower shadows) relative to the total range of price bars over a specified lookback period. It provides insights into market indecision, reversals, and trend exhaustion by analyzing the structural composition of candlesticks. The indicator calculates the lengths of upper and lower wicks along with the body of each candlestick. Each bar's wick length is expressed as a percentage of the total range (High - Low). The ratio is scaled to 0–100, where 100 represents entirely wicks with no body (indicating pure indecision) and 0 represents no wicks with only body (indicating strong directional movement). These values are then averaged over the lookback period (default = 5 bars) to provide a smoothed representation of wickiness, reducing noise and highlighting trends.
A high value, especially above 70, suggests indecision or potential reversals, as candlesticks dominated by wicks often appear near tops or bottoms. Conversely, low values below 30 indicate trend strength and strong momentum, useful for spotting breakouts and trend continuation. Mid-range values between 30 and 70 often indicate consolidation phases or gradual transitions between trends. Traders can adjust the lookback period to match their trading style, with shorter periods offering faster responses and longer periods providing smoother trends.
This indicator is particularly useful for trend reversal detection, breakout confirmation, and volatility filtering. It scales effectively across all timeframes, making it suitable for both intraday traders and long-term investors. When combined with volume analysis or trend-following indicators, the Wickiness Index can further strengthen trade signals. The visual design includes a blue line for the index and horizontal reference lines at 30 and 70, allowing for quick and intuitive interpretation.
The Wickiness Index offers a unique perspective on market sentiment and price action behavior, providing traders with valuable insights into potential turning points, momentum shifts, and market indecision. It is a powerful tool for improving decision-making in volatile markets and identifying areas where price trends may weaken or reverse.
DECPDECP is simple and easy to use!
It detects bullish and bearish engulfing candlestick patterns.
After detecting the patterns I've said, it mentions that the pattern is going to continue its direction to up or down.
But remember candlestick patterns don't determine targets and it's possible that predicted directions fail.
So use it carefully and enjoy it!
Bullish Engulfing Automatic Finding Script This is a bullish pattern formed by three candlesticks.
The pattern is based on the fact that the last candlestick must
completely engulf the previous two and be upward. The two preceding
candlesticks must also be downward. Candlestick wicks are not taken
into account.
Daytrading ES Wick Length StrategyThis Pine Script strategy calculates the combined length of upper and lower wicks of candlesticks and uses a customizable moving average (MA) to identify potential long entry points. The strategy compares the total wick length to the MA with an added offset. If the wick length exceeds the offset-adjusted MA, the strategy enters a long position. The position is automatically closed after a user-defined holding period.
Key Features:
1. Calculates the sum of upper and lower wicks for each candlestick.
2. Offers four types of moving averages (SMA, EMA, WMA, VWMA) for analysis.
3. Allows the user to set a customizable MA length and an offset to shift the MA.
4. Automatically exits positions after a specified number of bars.
5. Visualizes the wick length as a histogram and the offset-adjusted MA as a line.
References:
• Candlestick wick analysis: Nison, S. (1991). Japanese Candlestick Charting Techniques.
• Moving averages: Brock, W., Lakonishok, J., & LeBaron, B. (1992). “Simple Technical Trading Rules and the Stochastic Properties of Stock Returns”. Journal of Finance.
This strategy is suitable for identifying candlesticks with significant volatility and long wicks, which can indicate potential trend reversals or continuations.
RSI Primed [ChartPrime]
RSI Primed combines candlesticks, patterns, and the classic RSI indicator for advanced market trend indications
Introduction
Technical traders are always looking for innovative methods to pinpoint potential entry and exit points in the market. The RSI Prime indicator provides such traders with an enhanced view of market conditions by combining various charting styles and the Relative Strength Index (RSI). It offers users a unique perspective on the market trends and price momentum, enabling them to make better-informed decisions and stay ahead of the market curve.
The RSI Primed is a versatile indicator that combines different charting styles with the Relative Strength Index (RSI) to help traders analyze market trends and price momentum. It offers multiple visualization modes that serve specific purposes and provide unique insights into market performance:
Regular Candlesticks
Candlesticks with Patterns
Heikin Ashi Candles
Line Style
Regular Candlestick Mode
The Regular Candlestick Mode in RSI Primed depicts traditional Japanese candlesticks that most traders are familiar with. This mode bypasses any smoothing or modified calculations, representing real-price movements. Regular candlesticks offer a clear and straightforward way to visualize market trends and price action.
Candlestick with Patterns Mode
The Candlestick with Patterns Mode focuses on identifying high-probability candlestick patterns while incorporating RSI values. By leveraging the information captured by the RSI, this mode allows traders to spot significant market reversals or continuation patterns that could signal potential trading opportunities. Some recognizable patterns include engulfing bullish, engulfing bearish, morning star bullish, and evening star bearish patterns.
Heikin Ashi Candles Mode
The Heikin Ashi Candles Mode presents an advanced candlestick charting technique known for its excellent trend-following capabilities. Heikin Ashi Candles filter out noise in the market and provide a clear representation of market trends. In this mode, candlesticks are plotted based on RSI values of the open, high, low, and close prices, helping traders understand and utilize market trends effectively.
Line Style Mode
The Line Style Mode offers a simpler and minimalistic representation of the RSI values by using a line instead of candlesticks to visualize market trends. This mode helps traders focus on the overall trend direction and eliminates potential distractions caused by the complexity of candlestick patterns.
Candle Color Overlay Mode
The Candle Color Overlay Mode is a unique feature in the RSI Primed indicator that allows traders to visualize the RSI values on the chart's candles as a heat gradient. This mode adds a color overlay to the candlesticks, representing the RSI values in relation to the candlesticks' price action.
By displaying the RSI as a color gradient, traders can quickly assess market momentum and identify overbought or oversold conditions without having to switch between different modes or charts. The gradient ranges from cool colors (blue and green) for lower RSI values, indicating oversold conditions, to warm colors (orange and red) for higher RSI values, signifying overbought situations.
To enable the Candle Color Overlay Mode, traders can toggle the "Color Candles" option in the indicator settings. Once enabled, the color gradient will be applied to the candlesticks on the chart, providing a visually striking and informative representation of the RSI values in relation to price action. This mode can be used in tandem with any of the other charting styles, allowing traders to gain even more insights into market trends and momentum.
RSI Primed Implementation
The RSI Primed indicator combines the benefits of various charting styles with the RSI to help traders gain a comprehensive view of market trends and price momentum. It incorporates the Heikin Ashi and RSI values as inputs to generate several visualization modes, enabling traders to select the one that best suits their needs.
Chebyshev Digital Audio Filter in RSI Primed Indicator
A unique feature of the RSI Primed Indicator is the incorporation of the Chebyshev Digital Audio Filter, a powerful tool that significantly influences the indicator's accuracy and responsiveness. This signal processing method brings several benefits to the context of the RSI indicator, improving its performance and capabilities.
1. Improved Signal Filtering
The Chebyshev filter excels in its ability to remove high-frequency noise and unwanted signals from the RSI data. While other filtering techniques might introduce unwanted side effects or distort the RSI data, the Chebyshev filter accurately retains the main signal components, enhancing the RSI Primed's overall accuracy and reliability.
2. Faster Response Time
The Chebyshev filter offers a faster response time than most other filtering techniques. In the context of the RSI Primed Indicator, this means that the filtering process is quicker and more efficient, allowing traders to act swiftly during rapidly changing market conditions.
3. Enhanced Trend Detection
By effectively removing noise from the RSI data, the Chebyshev filter contributes to the enhanced detection of underlying market trends. This feature helps traders identify potential entry and exit points more accurately, improving their overall trading strategy and performance.
How to Use RSI Primed
Traders can choose from different visualization modes to suit their preferences while using the RSI Primed indicator. By closely monitoring the chosen visualization mode and the position of the moving average, traders can make informed decisions about market trends.
Green candlesticks or an upward line slope indicate a bullish trend, and red candlesticks or a downward line slope suggest a bearish trend. If the candles or line are above the moving average, it could signify an uptrend, whereas a position below the moving average may indicate a downtrend.
The RSI Primed indicator offers a unique and comprehensive perspective on market trends and price momentum by combining various charting styles with the RSI. Traders can choose from different visualization modes and make well-informed decisions to capitalize on market opportunities. This innovative indicator provides a clear and concise view of the market, enabling traders to make swift decisions and enhance their trading results.
Three Outside Up Backtest This is a three candlestick bullish reversal pattern consisting of a bullish
engulfing pattern formed by the first two candlesticks then followed by an up
candlestick with a higher close than the prior candlestick.
WARNING:
- For purpose educate only
- This script to change bars colors.
Three Outside Up Strategy This is a three candlestick bullish reversal pattern consisting of a bullish
engulfing pattern formed by the first two candlesticks then followed by an up
candlestick with a higher close than the prior candlestick.
WARNING:
- This script to change bars colors.
Three Outside Down Backtest This is a three candlestick bearish reversal pattern consisting of a bearish
engulfing pattern formed by the first two candlesticks then followed by a down
candlestick with a lower close than the prior candlestick.
WARNING:
- For purpose educate only
- This script to change bars colors.
Three Outside Down Strategy This is a three candlestick bearish reversal pattern consisting of a bearish
engulfing pattern formed by the first two candlesticks then followed by a down
candlestick with a lower close than the prior candlestick.
WARNING:
- This script to change bars colors.
Directional filter VERSION 2The idea is to make it more visible if the moment is to seek buying or selling, based on moving averages, being SMA 21 and EMA 9.
best BUYBAR has the EMA9 and SMA21 rising and closing above them. "relevance A"
best SELLBAR has the EMA9 and SMA21 dropping and closing below them. "relevance A"
Conditions for all colors of the candlesticks:
BuyBar A = price closes above EMA9 and SMA21 with EMA9 and SMA21 rising.
BuyBar B = price closes above SMA21 with SMA21 rising OR price closes above EMA9 and SMA21.
BuyBar C = price closes above EMA9 with EMA9 rising and SMA21 falling.
BuyBar Neutral = close> open.
SellBar A = price closes below EMA9 and SMA21 with EMA9 and SMA21 falling.
SellBar B = price closes below SMA21 with SMA21 falling OR price closes below EMA9 and SMA21.
SellBar C = price closes below EMA9 with EMA9 falling and SMA21 rising.
SellBar Neutral = close abertura.
SellBar A = preço fecha abaixo de EMA9 e SMA21 com EMA9 e SMA21 caindo.
SellBar B = preço fecha abaixo de SMA21 com SMA21 caindo OU preço fecha abaixo de EMA9 e SMA21.
SellBar C = preço fecha abaixo de EMA9 com EMA9 caindo e SMA21 subindo.
SellBar Neutral = fechamento < abertura.
As medias moveis também alteram de acordo com a direção em que estão:
EMA 9 subindo = azul
EMA 9 caindo = laranja
SMA 21 subindo = verde
SMA21 caindo = vermelho
CCPD Candle Color Price DetectorThe "CCPD Candle Color Price Detector" is a custom indicator developed for TradingView, a popular platform for technical analysis and trading. This indicator assists traders in identifying potential trend reversals and assessing market sentiment based on candlestick color changes and key price levels.
This indicator operates as follows:
Color Change Detection: It primarily focuses on the color of candlesticks (green for bullish and red for bearish). When a candlestick closes higher than it opens, it is considered green (bullish), and when it closes lower, it is red (bearish).
High and Low Analysis: The indicator calculates the highest high and lowest low over a user-defined number of bars (specified by the 'Bars for High/Low' input parameter). This helps identify recent price extremes.
Midpoint Calculation: It then computes the midpoint between the highest high and lowest low, effectively determining a central reference point within the specified period.
Signal Generation: Buy and sell signals are generated based on the relationship between the current candlestick's close price, the midpoint, and the candlestick color. Buy signals occur when a green candle closes above the midpoint, suggesting potential bullish momentum. Conversely, sell signals trigger when a red candle closes below the midpoint, indicating possible bearish pressure.
Visualization: The indicator visualizes the highest high, lowest low, midpoint, and additional lines to aid in understanding the price action and potential reversal points.
Alerts: It provides alerts for buy and sell signals, allowing traders to receive notifications when potential trading opportunities arise.
Usage:
Traders can utilize the "CCPD Candle Color Price Detector" in the following ways:
Trend Reversal Identification: This indicator can help traders spot potential trend reversals by signaling when candlestick colors change and close near the midpoint. Buy and sell signals offer entry points for trades based on these reversals.
Confirmation Tool: It can be used in conjunction with other technical analysis tools to confirm trading decisions. For example, a buy signal from this indicator, coupled with a bullish trendline break or a bounce from a key support level, may provide a stronger bullish signal.
Risk Management: By understanding potential reversal points and using stop-loss orders, traders can better manage their risk and protect their capital when entering positions based on the indicator's signals.
Customization: The indicator allows users to adjust the number of bars for high/low calculations, making it adaptable to different trading strategies and timeframes.
In summary, the "CCPD Candle Color Price Detector" is a versatile indicator that can aid traders in spotting potential trend changes, enhancing trading decisions, and managing risk effectively. However, like any trading tool, it should be used in conjunction with other analysis methods and risk management strategies for optimal results.
ICMCBased on basic Nimblr TA, Momentum Candles combined with Breakout/Breakdown can detect a change in trend direction.
Nimblr mainly categorizes candlesticks into Momentum (Body > 50%) and Indecision (Body < 50%) candlesticks.
⁕ shows Momentum Candles, others are Indecision Candles
↑ shows Breakout
↓ shows Breakdown
Yellow lines show the current Indecision candle and white lines the past Indecision candle.
Trend Confirmation StrategyComprehensive Trend Confirmation System
Indicator Features (Professional Description):
Comprehensive Trend Confirmation System is a versatile indicator meticulously designed to identify and confirm trend-based trading opportunities with exceptional efficiency. By seamlessly integrating analysis from a suite of leading technical tools, it aims to provide superior accuracy and reliability for informed trading decisions.
Key Features:
Intelligent Trend Identification: A robust trend analysis system that considers:
Adjustable Moving Averages: Utilizes three customizable moving average periods (fast, medium, slow) with user-selectable lengths and types (SMA, EMA, WMA, VWMA) to accurately determine the prevailing trend across different timeframes.
In-depth Price Action Analysis: Examines the formation of Higher Highs/Higher Lows (uptrend) and Lower Highs/Lower Lows (downtrend) to validate price direction.
Average Directional Index (ADX) with Adjustable Threshold: Measures the strength of a trend and employs the comparison between +DI and -DI to pinpoint the dominant momentum, featuring a customizable threshold to filter out weak signals.
Multi-Factor Signal Confirmation System: Enhances the reliability of trading signals through verification from four distinct confirmation tools:
Volume Analysis with Average Reference: Assesses whether trading volume supports price movements by comparing it to historical averages.
Relative Strength Index (RSI) with Reference Levels: Measures price momentum and identifies overbought/oversold conditions to confirm trend strength.
Moving Average Convergence Divergence (MACD) Divergence and Crossovers: Detects shifts in momentum and potential trend changes through the relationship between the MACD line and the Signal line.
Stochastic Oscillator with Reference Levels: Measures the current price's position relative to its historical range to evaluate overbought/oversold conditions and potential reversal opportunities.
Intelligent Signal Generation Logic:
Buy Signal: Triggered when a strong uptrend is identified (meeting defined criteria) and confirmed by at least three out of the four confirmation tools.
Sell Signal: Triggered when a strong downtrend is identified (meeting defined criteria) and confirmed by at least three out of the four confirmation tools.
User-Friendly Visualizations:
Moving Averages (MA): Displays three MA lines on the chart with user-configurable colors (default: fast-blue, medium-orange, slow-red) for easy visual trend analysis.
Clear Buy and Sell Signal Symbols: Presents distinct green upward-pointing triangles for buy signals and red downward-pointing triangles for sell signals at the corresponding candlestick.
Dynamic Candlestick Color Coding: Candlesticks are dynamically colored green upon a buy signal and red upon a sell signal for quick identification of trading opportunities.
Highly Customizable Parameters: Users have extensive control over the indicator's parameters, including:
Lengths and types of Moving Averages.
Length and Threshold of the ADX.
Length of the RSI.
Parameters for the MACD (Fast Length, Slow Length, Signal Length).
Parameters for the Stochastic Oscillator (%K Length, %D Length, Smoothing).
Ideal For:
Traders seeking a robust tool to accurately identify and confirm market trends.
Individuals aiming to reduce false signals and enhance the precision of their trading decisions.
Traders employing trend-following strategies in markets with clear directional movement.
Important Note:
While Comprehensive Trend Confirmation System is engineered to improve trading accuracy, no indicator can guarantee 100% profitable trades. Users are advised to utilize this indicator in conjunction with relevant fundamental analysis and sound risk management practices for optimal trading outcomes.
Ehlers Regime Dynamic CandlesCore Calculation Mechanism
The indicator uses advanced Ehlers signal processing techniques to identify market regimes and create dynamically colored candles that reflect market conditions.
Super Smoother Filter: Price data (open, high, low, close) is processed through an Ehlers Super Smoother Filter to reduce market noise while preserving important price movements. This creates a clearer signal for regime detection.
Autocorrelation Analysis: The core of regime detection uses autocorrelation functions at different lag periods:
Primary autocorrelation measures correlation between the current price and its previous value
Trending autocorrelation measures longer-term persistence in the data series
These values combined determine if the market is in a trending or choppy regime
(Image showing Ehlers custom candles vs default candlesticks)
Regime Strength Calculation:
-Raw signal from autocorrelation with user-defined threshold adjustment
-Adaptive scaling based on sensitivity parameter
-Optional volume validation that confirms signal strength using volume data
-Normalization to 0-1 range and smoothing for visual consistency
-Percentile ranking to provide contextually meaningful strength values
Fisher Transform: Applied to the smoothed price to identify statistical extremes, which helps adjust transparency levels during significant price movements.
Key Features & Components
Regime Detection: Identifies trending vs. choppy market conditions using Ehlers' autocorrelation techniques.
Dynamic Candle Coloring: Candles transition smoothly between three color states:
Bullish trending (typically green/teal)
Bearish trending (typically red/purple)
Choppy/neutral (typically blue/silver)
Volume Validation: Optional incorporation of volume data to confirm trend strength (stronger volume during trending periods increases confidence).
Adaptive Transparency: Candles become more opaque during statistically significant price movements based on Fisher Transform values.
Gradient Smoothing: Controls the visual transition between regime states for a more aesthetically pleasing appearance.
Customizable Colors and Style: Full control over all visual aspects including candle body/wick colors and transparency.
Configuration Options
Users can adjust the following parameters in the indicator settings:
Main Settings:
Cycle Length: Controls the lookback period for cycle detection. Lower values increase responsiveness but may introduce noise.
Gradient Smoothness: Determines how quickly colors transition when regime changes.
Trend Detection Threshold: Sets the autocorrelation strength required to classify a trend.
Trend Sensitivity: Scales regime strength calculation to produce a better distribution of values.
Use Volume: Toggles whether volume data is used to validate trend strength.
Color Settings:
Trending Regime Colors: Separate color options for bullish and bearish candle bodies and wicks.
Choppy Regime Colors: Color options for candle bodies and wicks during sideways/neutral markets.
Style Settings:
Candle Border Options: Toggle borders and adjust their color and transparency.
Adaptive Transparency: Enable/disable dynamic transparency based on statistical significance.
Base Transparency: Set the baseline transparency level for all candles.
Interpretation Notes
Color Transitions: As the market shifts between regimes, candle colors gradually transition, providing visual cues about market structure changes.
Regime Strength: The intensity of colors indicates the strength of the detected regime:
Strong trending regimes show vibrant trending colors
Weak or mixed regimes display colors closer to the choppy/neutral color
Transitions between regimes show gradient colors
Transparency Changes: More opaque candles indicate statistically significant price movements, while more transparent candles suggest routine or less significant price action.
Volume Interaction: When volume validation is enabled, trending colors become more pronounced during high volume trends and subdued during low volume periods.
Disclaimer: These are custom candles that are significantly different from normal candlesticks.
Unlike traditional candlesticks that display raw price data, these candles:
• Use Ehlers signal processing to filter and smooth price data
• Dynamically change color based on detected market regimes
• Show statistical significance through transparency
• May appear delayed compared to standard candles due to the filtering process
Traditional trading strategies dependent on candlestick patterns will not work with these.
Risk Disclaimer
Trading involves significant risk. This indicator is provided for analytical purposes only and does not constitute financial advice. Past performance is not indicative of future results. Use sound risk management practices and never trade with capital you cannot afford to lose. The Ehlers Regime Dynamic Candles indicator should be used as part of a comprehensive trading approach, not as a standalone trading system.
Extrema DetectorDetermines local maximums and minimums points in the chart.
Parameters:
lookback : number of candlesticks to look.
extrema_finder_sensivity : If lower, more extreme points will be found (may over-find).
Brief algorithm description:
Computes a Simple Moving Average (length= extrema_finder_sensivity ), and searches for its local extremes.
Given some SMA extreme, it looks the previous extrema_finder_sensivity candlesticks to find the highest (or lowest value).
Notes:
Is a lagged indicator: determining if the current candlestick have reach a maximum can be delayed to, at most extrema_finder_sensivity -further candlesticks.
L2 Candle Pattern ScalperLevel: 2
Background
Japanese candlesticks provide more detailed and accurate information about price movements compared to bar charts. They provide a graphical representation of the supply and demand behind the price promotions for each period. Each candlestick contains a central part that indicates the distance between the opening and closing of the security being traded, the area called the body.
Scalping is a trading strategy that aims to take advantage of minor changes in the stock price. Traders using this strategy place anywhere from 10 to a few hundred trades in a single day with the belief that small moves in the stock price are easier to catch than large ones. Traders who implement this strategy are known as scalpers. Lots of small wins can easily lead to big wins if a strict exit strategy is used to prevent big losses.
Function
L2 Candle Pattern Scalper utilizes candle pattern to decide long and short entry signal. It use inherent candles' relationship nearby to judge the market trend is up or down and decide to long or short.
Signal
buysmall --> long entry
exitred --> short entry
Pros and Cons
Pros:
1. its response is fast because OHLC candle is the raw source of market
2. it is suitable for scalping because it studies nearby candles to judge very short term trend change
Cons:
1. Mid-long term change is missing from this indicator, although I use fast and slow lines to indicate the mid-term trend.
2. No stop loss or take profit scheme is introduced.
Remarks
This is promising but need efforts to refine it.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Bearish Engulfing Strategy This is a bearish candlestick reversal pattern formed by two candlesticks.
Following an uptrend, the first candlestick is a up candlestick which is
followed by a down candlestick which has a long real body that engulfs or
contains the real body of the prior bar. The Engulfing pattern is the reverse
of the Harami pattern.
WARNING:
- This script to change bars colors.
Engulfing Pattern & Impulse [UAlgo]The Engulfing Pattern & Impulse is a tool designed for technical traders who utilize price action and volume analysis to assess market trends and potential reversals. This indicator identifies two powerful trading signals: Engulfing Patterns and Volume Impulses, which are essential components for evaluating potential bullish or bearish market momentum.
Engulfing Patterns are classic candlestick formations often associated with reversals or trend continuations, depending on the overall trend context. This indicator highlights both bullish and bearish engulfing patterns based on configurable criteria such as trend detection settings, comparison with average body size, and a customizable body multiplier for validation. The Volume Impulse feature signals moments of significant volume compared to historical levels, which often precede substantial price movements. Together, these features provide traders with a versatile tool for better timing entry and exit points.
The indicator also offers an adaptive trend detection system, allowing traders to choose from multiple methods (e.g., SMA50 or SMA50/SMA200 combinations) to assess the trend context, making it ideal for various market conditions.
🔶Key Features
Engulfing Pattern Detection: Identifies bullish and bearish engulfing patterns with customizable parameters, including body length and average size comparison.
Configurable trend basis: Choose between SMA50 or SMA50 with SMA200 to define trend direction.
Body size multiplier: Adjust the size threshold for valid engulfing patterns, providing flexibility based on market conditions.
Volume Impulse Signal: Highlights volume spikes that meet or exceed a specified multiplier, which can indicate increased buying or selling interest.
Customizable volume period and multiplier: Allows you to tailor the volume impulse detection based on the instrument’s average volume behavior.
Trend Detection Options: Select different trend detection methods to suit various trading styles and instruments.
SMA50-based detection: Classifies the trend based on the position of price relative to the 50-period SMA.
SMA50 and SMA200 combination: Incorporates a dual-moving average approach, classifying trends based on the relationship between price, SMA50, and SMA200.
Enhanced Visualization: Distinguishes bullish and bearish signals with customizable colors, providing clear and immediate visual cues for easy interpretation.
Custom label colors: Allows you to set distinct colors for bullish, bearish, and neutral signals for quick identification.
Pattern filtering: Enable or disable specific patterns (Bullish, Bearish, or Both) based on your trading preferences.
🔶 Interpreting Indicator
Bullish Engulfing Pattern: Indicates a potential bullish reversal in a downtrend. This signal occurs when a white candlestick with a body size exceeding a specified multiplier completely engulfs the previous black candlestick. The pattern will display a “BE” label below the candle if it meets the criteria, signaling potential upward momentum.
Bearish Engulfing Pattern: Indicates a potential bearish reversal in an uptrend. A black candlestick with a body size exceeding the specified multiplier fully engulfs the previous white candlestick, signaling possible downward movement. The “BE” label appears above the candle to denote this pattern.
Volume Impulse Up: Displays a “VI” label below the candle when the volume surpasses the defined multiplier, and the price closes higher than it opened, indicating strong upward buying interest.
Volume Impulse Down: Displays a “VI” label above the candle when the volume meets or exceeds the specified threshold, and the price closes lower than it opened, signaling strong selling pressure.
Indicator uses the SMA50 and SMA200 to determine trend direction due to their popularity in technical analysis as indicators of medium- and long-term trends. The SMA50 reflects the average price over the past 50 periods, providing insight into intermediate trends, while the SMA200 is often used to identify the broader trend direction. These SMAs help traders quickly assess whether the market is in an uptrend, downtrend, or consolidation phase, enhancing decision-making for both short-term and long-term strategies.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
