HTF Candles Overlay [Trendoscope®]🎲 HTF Candles Overlay is a simple indicator where you can overlay higher timeframe candles on current timeframe chart.
Most of the code is encapsulated in the library HTFCandlesLib . After publishing the library as open source, many people requested to convert that into an indicator. Based on this, we decided to publish this small code for the use of community.
🎯 Usage
The indicator is simple, it helps users visualise higher timeframe candles. We majorly use this for debugging or validating our implementations based on higher timeframe. Instead of switching back and forth to different timeframes, it helps us visualise higher timeframe candles on the same chart when we are validating the implementation that involves higher timeframe calculations.
🎯 Components
The indicator provides two types of displays
Candles - overlay candles built through lines and labels
Plot - close price of higher timeframe plotted on chart
🎯 Candles
The behaviour of the candles are similar to that of hollow candles. The color of the body and the border+wick demonstrates the movement of the candle.
Body color is lime if the HTF close is higher than HTF open. Body color is orange if the HTF close is lower than the HTF open.
Wick and border color is lime if HTF close price is higher than previous HTF close price. And they are orange if HTF close price is lower than the previous HTF close price
In most cases body color will be same as the wick color. In case of stocks and indices, it may happen that the open price is too far away from previous close price due to gaps. This can lead to close price being relatively in different direction when compared to open and previous close.
Wicks are not at the centre of the candle. Instead wicks are drawn on the current chart timeframe position where the current timeframe has reached the highest or lowest point within the given HTF candle
Candles also list OHLC price of HTF candle along with HTF bar index and the range of LTF bar index that the candle spawns
Here are some pictorial representations that can help understand better.
Here are the examples of candles with gaps where body and wick/border are in different directions (colours)
🎯 Indicator Settings
Simple settings allow users to select the timeframe, whether to display candles and plots and their specific colors.
🎯 Possible inconsistencies
The overlay can show inconsistent data in certain situations. Here are some of the scenarios where the indicator may not show consistent display of the data.
When the HTF data from request.security does not match that of combined LTF data . In such cases, HTF candles may not form inline with the current timeframe candles. This happens when there is a data issue of different OHLC data available in tradingview.
When using weekly candle as either chart timeframe or higher timeframe - end of week may not coincide with end of month or other timeframes. This can cause some inconsistencies in the visuals of the indicator.
When open and close time of either LTF or HTF falls under different day due to time zone used. - time is always the time on which the candle close. So, when we use time zone that causes the exchange day to open and close on different days, that can cause some inconsistencies in the candles being drawn.
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Edwin K Stochastic Candle ColorsThe Stochastic Candle Colors indicator highlights price action using candle colors based on signals from the stochastic oscillator. Here's how to use it:
1. Indicator Purpose
This indicator overlays on your price chart and changes candle colors based on stochastic oscillator signals:
Green candles: Indicate a bullish signal when the %K line crosses above the %D line in an oversold area (below 20).
Red candles: Indicate a bearish signal when the %K line crosses below the %D line in an overbought area (above 80).
2. How to Use the Inputs
K (periodK): The lookback period for calculating the %K line of the stochastic oscillator. A smaller value makes the indicator more sensitive to price changes.
D (periodD): The period for smoothing the %K line to get the %D line. A larger value creates smoother signals but may result in delays.
Smooth (smoothK): The additional smoothing applied to the %K line before calculating the %D line. This helps reduce noise.
3. How to Interpret the Candle Colors
Green Candle:
Occurs when the %K line crosses above the %D line in the oversold zone (below 20).
Signals a potential bullish reversal.
Red Candle:
Occurs when the %K line crosses below the %D line in the overbought zone (above 80).
Signals a potential bearish reversal.
No Color:
No crossover occurs, or the crossover doesn't happen in overbought/oversold zones.
4. Application in Trading
Entry Points:
Buy when you see a green candle and confirm with other indicators or chart patterns.
Sell when you see a red candle and confirm with additional signals.
Trend Context:
Combine this indicator with trend-following tools like moving averages or support/resistance levels to improve accuracy.
Stop Loss/Take Profit:
Use nearby swing highs/lows for stop-loss placement.
Set profit targets based on risk-reward ratios or key levels.
5. Customization
Adjust the input parameters (K, D, and Smooth) to align the indicator's sensitivity with your trading style:
Short-term traders might prefer lower values for quicker signals.
Long-term traders might opt for higher values for smoother, more reliable signals.
6. Limitations
Signals in isolation might not be reliable. Always use this indicator in conjunction with other tools.
Avoid using during low volatility or sideways markets as stochastic oscillators can produce false signals.
Enhanced Candle Sticks [AlgoAlpha]🚀🌟 Introducing the Enhanced Candle Sticks by AlgoAlpha, a Pine Script tool designed to provide traders with an enhanced view of market dynamics through candlestick analysis. This script aims to visualise if price has hit the high or low of the candle first, aiding in back-testing, and to identify smaller trends using market structure.📊🔍
Key Features:
Timeframe Flexibility: Users can select their desired timeframe for analysis, offering a range of options from M15 to H12. This flexibility allows for detailed and specific timeframe analysis.
Micro Trend Identification: The script includes an option to enable 'MicroTrends', giving traders insights into smaller movements and trends within the larger market context.
Customizable Visuals: Traders can customize the colors of bullish and bearish candlesticks, enhancing visual clarity and personalizing the chart to their preferences.
State Tracking: The script tracks the 'state' of the market on lower timeframes to detect if the high or the low was formed first.
Warning System: When the selected timeframe does not match the chart timeframe, the script generates a warning, ensuring accurate analysis and preventing potential misinterpretations.
Usages:
Enhanced Back-testing: Users can now get a more accurate interpretation of the candlesticks by know if the high or the low came first (denoted with ⩚ or ⩛), especially in scenarios where the high and the low of the larger timeframe candle is touching both the take-profit and stop-loss levels.
Squeeze Analysis: Users can identify squeezes in price when the microtrend shows both an uptrend and a downtrend, possibly giving more insight into the market.
Lower Timeframe Market Structure Analysis: Microtrends form when the low of the candle is consecutively increasing and the high is consecutively falling, which means on a lower timeframe, price is forming higher lows or lower highs.
Basic Logic Explanation:
- The script starts by setting up the necessary parameters and importing the required library. Users can customize the timeframe, colors, and whether to enable micro trends and candlestick plotting.
- It then calculates the lower timeframe (1/12th of the current timeframe) for more detailed analysis. The `minutes` function helps in converting the selected timeframe into minutes.
- The script tracks new bars and calculates the highest and lowest values within an hour, using `ta.highestSince` and `ta.lowestSince`.
- It determines the market 'state' by checking if the current high is breaking the previous high and if the current low is breaking the previous low on lower timeframes to determine if the high or the low was formed first.
- The script uses the `plotchar` and `plotcandle` functions to visually represent these trends and states on the chart. This visual representation is key for quick and effective analysis.
Alerts:
Alerts can be set for microtrend formations:
This script is a valuable tool for traders looking to deepen their market analysis with enhanced candlestick visualization and micro trend tracking. 📈🔶💡
5m Candle OverlayDescription:
The 5m Candle Overlay indicator is a powerful technical analysis tool designed to overlay 5-minute candles onto your chart. This indicator enables detailed analysis of price action within the 5-minute time frame, providing valuable insights into short-term market movements.
How it Works:
The 5m Candle Overlay indicator calculates the OHLC (Open, High, Low, Close) values specifically for the 5-minute time frame. By utilizing the request.security function, it retrieves the OHLC values for each 5-minute candle. The indicator then determines the color for each candle based on a comparison between the close and open prices. Bullish candles are assigned a green color with 75% opacity, while bearish candles are assigned a red color with 75% opacity. Additionally, the indicator checks if the current bar index is a multiple of 5 to prevent overlapping and enhance visualization.
Usage:
To effectively utilize the 5m Candle Overlay indicator, follow these steps:
1. Apply the 5m Candle Overlay indicator to your chart by adding it from the available indicators.
2. Observe the overlay of 5-minute candles on your chart, providing a detailed representation of price movements within the 5-minute time frame.
3. Interpret the candles:
- Bullish candles (green by default) indicate that the close price is higher than the open price, suggesting potential buying pressure.
- Bearish candles (red by default) indicate that the close price is lower than the open price, suggesting potential selling pressure.
4. Note that the indicator plots candles with a vertical offset every fifth indicator to prevent overlapping, ensuring clarity and ease of interpretation.
5. Combine the analysis of the 5-minute candles with other technical analysis tools, such as support and resistance levels, trend lines, or indicators from different time frames, to gain deeper insights and identify potential trade setups.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to effectively manage your trades within the 5-minute time frame and protect your capital.
Marubozu and Strong Candle DetectorMarubozu and Strong Candle Detector - Indicator Description
This TradingView Pine Script indicator identifies powerful price action signals by detecting two key candle types that can signal strong market momentum:
What It Detects
1. Marubozu Candles: These are candles with little to no wicks, where the body makes up almost the entire candle. Marubozu means "bald head" or "shaved head" in Japanese, referring to the absence of shadows (wicks).
o Bullish Marubozu: A green/up candle with minimal wicks, showing buyers controlled the entire session
o Bearish Marubozu: A red/down candle with minimal wicks, showing sellers dominated the session
2. Strong Candles: These are candles that are significantly larger than the recent average, suggesting exceptional momentum.
o Strong Bullish: Large green/up candles showing powerful buying pressure
o Strong Bearish: Large red/down candles showing powerful selling pressure
Trading Significance
• Bullish Marubozu/Strong Bullish Candles: Often signal the beginning of bullish trends or strong continuation of existing uptrends. These can be excellent entry points for long positions.
• Bearish Marubozu/Strong Bearish Candles: Often indicate the start of bearish trends or powerful continuation of existing downtrends. These can be good entry points for short positions or exit points for long positions.
Key Features
• Customizable Parameters: Adjust sensitivity for body ratio threshold and size comparison
• Visual Indicators: Easy-to-spot markers appear on your charts
• Information Display: Shows key metrics about the current candle
• Alert System: Set notifications for when significant candles form
How To Use This Indicator
1. For Entry Signals:
o Look for bullish Marubozu/strong bullish candles at support levels or after pullbacks
o Look for bearish Marubozu/strong bearish candles at resistance levels or after rallies
2. For Exit Signals:
o Consider taking profits on long positions when bearish Marubozu/strong bearish candles appear
o Consider taking profits on short positions when bullish Marubozu/strong bullish candles appear
3. For Trend Confirmation:
o Multiple signals in the same direction strengthen the case for a trend
This indicator works best on larger timeframes (1H, 4H, Daily) where candle formations have more significance, but can be applied to any timeframe based on your trading style.
Advanced Candlestick Pattern DetectorWhat Does This Indicator Do?
This indicator looks at the way price moves in the market using candlesticks (those red and green bars you see on charts). It tries to find special patterns like Bullish Engulfing, Hammer, Doji, and others. When one of these patterns shows up, the indicator checks a bunch of filters to decide if the pattern is strong enough to be a signal to buy or sell.
The Main Parts of the Indicator
1. Candlestick Pattern Detection
Bullish Engulfing:
Imagine you see a small down candle (red) and then a big up candle (green) that completely “covers” the red one. That’s a bullish engulfing pattern. It can signal that buyers are taking over.
Bearish Engulfing:
The opposite of bullish engulfing. A small up candle (green) is followed by a big down candle (red) that covers the previous candle. This suggests sellers might be in control.
Hammer & Shooting Star:
Hammer: A candle with a very short body and a long shadow at the bottom. It shows that buyers stepped in after a drop.
Shooting Star:
Similar to the hammer but with a long shadow on top. It can indicate that sellers are starting to push the price down.
Doji:
A candle with almost no body. This means the opening and closing prices are very close. It shows indecision in the market.
Harami Patterns (Bullish & Bearish):
These are two-candle patterns where the second candle is completely inside the body of the first candle. They signal that the previous trend might be about to change.
Morning Star & Evening Star:
These are three-candle patterns.
Morning Star:
Often seen at the bottom of a downtrend, it can signal a reversal to an uptrend.
Evening Star:
Seen at the top of an uptrend, it can signal that the price may soon go down.
2. Filters: Making the Signals Smarter
The indicator doesn’t just rely on patterns. It uses several “filters” to decide if a pattern is strong enough to trade on. Here’s what each filter does:
a. Adaptive Thresholds (ATR-Based)
What It Is:
The indicator uses something called ATR (Average True Range) to see how much the price is moving (volatility).
How It Works:
Instead of using fixed numbers to decide if a candle is a Hammer or a Doji, it adjusts these numbers based on current market activity.
User Settings:
Use Adaptive Thresholds: Turn this on to let the indicator adjust automatically.
Body Factor, Shadow Factor, Doji Factor: These numbers are multipliers that decide how small or big the body and shadows of the candle should be. You can change them if you want the indicator to be more or less sensitive.
b. Volume Filter
What It Is:
Volume shows how many trades are happening.
How It Works:
The filter checks if the current volume is higher than the average volume (multiplied by a set factor). This helps ensure that the signal isn’t coming from a very quiet market.
User Settings:
Use Volume Filter: Turn this on if you want to ignore signals when there’s not much trading.
Volume MA Period & Volume Multiplier: These settings determine what “normal” volume is and how much higher the current volume must be to count.
c. Multi-Timeframe Trend Filter
What It Is:
This filter looks at a bigger picture by using a moving average (MA) from a higher timeframe (for example, daily charts).
How It Works:
For a bullish (buy) signal, the indicator checks if the price is above this MA.
For a bearish (sell) signal, the price must be below the MA.
User Settings:
Use Multi-Timeframe Trend Filter: Enable or disable this filter.
Higher Timeframe for Trend: Choose which timeframe (like Daily) to use.
Trend MA Type (SMA or EMA) & Trend MA Period: Choose the type of moving average and how many candles to average.
d. Additional Trend Filters (ADX & RSI)
ADX Filter:
What It Is:
ADX stands for Average Directional Index. It measures how strong a trend is.
How It Works:
If the ADX is above a certain threshold, it means the trend is strong.
User Setting:
ADX Threshold: Set the minimum strength the trend should have.
RSI Filter:
What It Is:
RSI (Relative Strength Index) tells you if the price is overbought (too high) or oversold (too low).
How It Works:
For a buy signal, RSI should be low (under a set threshold).
For a sell signal, RSI should be high (above a set threshold).
User Settings:
RSI Buy Threshold & RSI Sell Threshold: These set the levels for buying or selling.
3. How the Final Signal Is Determined
For a signal (buy or sell) to be generated, the indicator first checks if one of the candlestick patterns is present. Then it goes through all these filters (trend, volume, ADX, RSI). Only if everything is in line will it show:
A BUY signal when all bullish conditions are met.
A SELL signal when all bearish conditions are met.
4. Visual Elements on the Chart
Trend MA Line:
A blue line is drawn on your chart showing the moving average from the higher timeframe (if you enable the trend filter). This helps you see the overall direction of the market.
Labels on the Chart:
When a signal is detected, you’ll see:
A BUY label below the candle (green).
A SELL label above the candle (red).
Background Colors:
The chart background might change slightly (green for bullish and red for bearish) to give you a quick visual cue.
Histogram:
At the bottom, there is a histogram that shows +1 for bullish signals, -1 for bearish signals, and 0 when there’s no clear signal.
5. Alerts
Alerts are built into the indicator so you can get a notification when a signal appears. The alert messages are fixed strings, meaning they always say something like “BUY signal on at price .” You can set up these alerts in TradingView to be notified via sound, email, or pop-up.
How to Use and Adjust the Filters
Deciding on Patterns:
You can choose which candlestick patterns you want to detect by toggling the options (e.g., Bullish Engulfing, Hammer, etc.).
Adjusting Adaptive Thresholds:
If you feel that the indicator is too sensitive (or not sensitive enough) during volatile times, adjust the Body Factor, Shadow Factor, and Doji Factor. These change how the indicator recognizes different candle shapes based on market movement.
Volume Filter Settings:
Use Volume Filter:
Turn this on if you want to ignore signals when there’s not enough trading activity.
Adjust the Volume MA Period and Volume Multiplier to change what “normal” volume is for your chart.
Multi-Timeframe Trend Filter Settings:
Choose a higher timeframe (like Daily) to see the bigger picture trend. Select the type of moving average (SMA or EMA) and its period. This filter ensures you only trade in the direction of the overall trend.
ADX & RSI Filters:
ADX:
Adjust the ADX Threshold if you want to change the minimum strength of the trend needed for a signal.
RSI:
Set the RSI Buy Threshold (for oversold conditions) and RSI Sell Threshold (for overbought conditions) to refine when a signal is valid.
Summary
This indicator is like having a smart assistant that not only looks for specific price patterns (candlesticks) but also checks if the overall market conditions are right using several filters. By combining:
Pattern Detection
Adaptive thresholds (based on ATR)
Volume Checks
Multi-Timeframe Trend Analysis
Additional Trend Strength and Overbought/Oversold Indicators (ADX & RSI)
...it helps you decide if it might be a good time to buy or sell. You can customize each part to fit your trading style, and with the built-in alerts, you can be notified when everything lines up.
Feel free to adjust the settings to see how each filter changes the signals on your chart. Experimenting with these will help you learn how the market behaves and how you can best use the indicator for your own strategy!
Plot Closed Candles OnlyWhat It Does:
This indicator helps you see candlesticks on your chart only after they are fully closed. It colors the candles based on whether they are bullish (green), bearish (red), or neutral (black/Doji). This way, you can focus on confirmed price movements without the distraction of candles that are still forming.
Key Features:
Plots Confirmed Candles: Only shows candles after they are fully formed.
Custom Colors:
Green: Bullish candles (close > open).
Red: Bearish candles (close < open).
Black: Doji candles (close = open).
Easy to Use: Simply add the indicator to your chart.
How to Use:
Add the indicator to your chart.
Turn off the default candles by:
Right-clicking on the chart.
Going to Style > Candles.
Disabling borders, bodies, and wicks for the default candles.
Enjoy a cleaner view of confirmed candles with clear color coding!
Why Use It?:
Helps you focus on confirmed price action.
Makes it easier to spot bullish, bearish, and neutral candles.
Great for traders who want to avoid the noise of incomplete candles.
Single Candle Model-DTFXThe script identifies the candles with engulfing body and marks the 50% of the candle for easy entry based on model of #DTFX single candle entry
Interpreting the Signals:
Look for candles labeled as "BE". These represent significant price action where the range is larger than the previous candle's range.
Pay attention to the 50% line of the "BE" candle:
A green line indicates a bullish "BE" candle.
A red line indicates a bearish "BE" candle.
Watch for Buy ("B") and Sell ("S") labels:
"B": Indicates a potential bullish breakout.
"S": Indicates a potential bearish breakdown.
Alerts:
Configure alerts in TradingView to notify you whenever a "B" or "S" signal is detected. This allows you to act on the signals without constantly monitoring the chart.
Use in Trading Strategies:
Combine this indicator with other tools like support/resistance levels, moving averages, or trend analysis to validate the signals.
Use the midpoint (50% line) of the "BE" candle as a potential reference point for stop-loss or target levels.
Customizations:
Adjust the appearance of labels and lines by modifying their style, color, or placement in the script.
Add filters (e.g., timeframes or volume conditions) to refine the detection of "BE" candles.
This indicator helps traders identify pivotal price movements and act on potential breakouts or breakdowns with clear visual markers and alerts.
TechniTrend: Strong Candles DetectorTechniTrend: Strong Candles Detector
Description:
The TechniTrend: Strong Candles Detector indicator is designed to identify strong candlestick patterns based on customizable thresholds of candle strength, volume, and price volatility. By detecting significant candles that have a high proportion of body relative to total range, the indicator helps traders identify potential shifts in market direction, making it a useful tool for trend analysis and reversal spotting.
Key Features:
Candle Strength Detection: The indicator calculates the strength of a candle based on the ratio of its body (difference between open and close) to its total range (high minus low). If the body size exceeds a user-defined threshold, the candle is flagged as strong. This helps traders quickly identify key candles that may signal market movements.
Volume Confirmation (Optional): An optional volume confirmation allows the indicator to only flag candles as "strong" if the trading volume during the candle exceeds the average volume over a customizable period. This can help validate that a candle’s movement is backed by significant market participation.
Volatility Body Confirmation (Optional): Users can further refine the detection by requiring that the body of a strong candle exceed the average body size (volatility) of previous candles. This ensures that candles with greater price movement are prioritized.
Customizable Inputs:
Strength Threshold: Defines the minimum ratio of body to total range for a candle to be considered strong.
Moving Average Type: Choose from SMA, EMA, or WMA for calculating the moving average of volume or body volatility.
Volume and Body Confirmation: Adjust the percentage thresholds for the difference between the current volume/body size and their average values.
Visual Alerts: The indicator marks strong bullish candles with green upward labels below the candle, and strong bearish candles with red downward labels above the candle. Additionally, strong candles can be highlighted with a customizable background color for easier visualization.
How It Works:
Strength Ratio:
The core of this indicator is the calculation of the strength ratio, which is defined as the body size (open-close) divided by the total range (high-low). If the body size is larger relative to the total range and exceeds the user-defined threshold, the candle is flagged as strong.
Volume and Volatility Confirmation:
For traders seeking additional confirmation, the indicator can be configured to only mark candles if the current volume or body volatility exceeds the average by a user-defined percentage. These confirmations can be toggled on or off to suit different trading strategies.
Customization Options:
Strength Threshold (0-1):
Sets the minimum strength required for a candle to be flagged. A higher value will result in fewer but more significant candles being marked.
Volume Confirmation:
Toggle on to require a higher volume compared to the average volume for a candle to be confirmed as strong.
Volatility Body Confirmation:
Toggle on to require a larger candle body compared to the average body size for further confirmation.
Candle Color:
Choose the background color used to highlight strong candles.
Recommended Settings:
Strength Threshold: 0.7 (for a good balance between body and range)
Volume Difference: 0.05 (5% above the average volume)
Body Volatility Difference: 0.05 (5% above the average body size)
Length: 14 (for volume and volatility moving averages)
Conclusion: The TechniTrend: Strong Candles Detector is an easy-to-use yet powerful tool for traders who want to identify key candles that signal potential market trends. Its customizable settings allow for fine-tuning to fit different trading styles, whether looking for high-volume breakouts or significant price movements. The indicator offers both a visual and configurable alert system to help traders make more informed decisions.
Trailing Candle CounterThis script is for users who like to monitor and/or analyze a specified number of candles within the time the last candle closed. Al Brooks fans may enjoy this indicator.
While searching for an indicator that already had this functionality I found a script by @Steversteves which counted the candles/percentage within a set period of time. This let me know it could be done. In honor of Steversteves I kept the table the same colors - although, I added code to allow the table to be modified.
When opening the script the user will need to set a begin/end time to analyze – don't worry as you can set anything you want and it can be altered after the script is running.
This image shows the settings for a user to be able to set a begin time and have the indicator count all the candles from that time through to the current time and update at each candle close. The user can move the beginning time as needed. This is useful if the user is monitoring the length of a trend, wedge, channel, etc.:
If the indicator is in view and the beginning time is on the chart the user can select the table to view/select/change the beginning time.
This image shows the settings for a user to monitor the last set of candles since the last candle closed. This is useful if the user expects a pullback after a set number of candles or expects some alteration in a trend within a set number of candles. In this case the user setting is to watch five candles:
This setting is the reason for my creation of this indicator. This image shows the settings for a user to monitor two sets of candles. In this case an additional set of five candles has been added to the original set of five candles:
If one is watching for movements to last a certain number of bars when the first bar of the movement is exiting the background color the user can expect a change in the price momentum.
This image shows the same functionality as in Steversteves original script (although, I used almost none of his original code). The user can set a begin time and end time to analyze the number or red/green candles and the percentage of each within that time period.
If the indicator is in view and the beginning and end times are on the chart the user can select the table to view/select/change the times.
I hope you find this useful and if you have any questions/comments/suggestions for improvement please comment below.
Higher Time Frame {HTF} Candles [QuantVue]Introducing the Higher Time Frame {HTF} Candles from QuantVue!
This script was developed to help you visually emphasize higher time frame (HTF) candles.
Higher time frames reduce the 'noise' inherent in lower time frames, providing a clearer, more accurate picture of the market's movements.
By examining higher time frames, you can better identify trends, reversals, and key areas of support and resistance.
The Higher Time Frame Candles indicator overlays higher time frame data directly onto your current chart.
You can easily specify the higher time frame candles you'd like to view, and the indicator will overlay the higher time frame candles directly over the corresponding current time frame bars.
This indicator by default will display the most current higher time frame candle plus the previous 5 candles.
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers.
Double Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed double candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
Double Candle Trends
• A double uptrend candle trend is formed when a candle closes with both a higher high and a higher low.
• A double downtrend candle trend is formed when a candle closes with both a lower high and a lower low.
Multi-Part Double Candle Trends
• A multi-part double uptrend candle trend begins with the formation of a new double uptrend candle trend and continues until a new lower high or lower low ends the trend.
• A multi-part double downtrend candle trend begins with the formation of a new double downtrend candle trend and continues until a new higher high or higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
• Show Plots
Table
The table is colour coded, consists of seven columns and, as many as, thirty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding double uptrend candle trend scenarios and red cells denote the corresponding double downtrend candle trend scenarios.
The multi-part double candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the double candle trend scenarios as percentages of total 1-part double candle trends. And columns four and seven display the total double candle trend scenarios as percentages of the last, or preceding double candle trend part. For example 4-part double uptrend candle trends as percentages of 3-part double uptrend candle trends.
Plots
I have added plots as a visual aid to the double candle trend scenarios. Green up-arrows, with the number of the trend part, denote double uptrend candle trends. Red down-arrows, with the number of the trend part, denote double downtrend candle trends.
█ HOW TO USE
This indicator is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current double candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Upper and Lower Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed upper and lower candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
Table
The table is colour coded, consists of seven columns and, as many as, sixty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding upper candle trend scenarios and red cells denote the corresponding lower candle trend scenarios.
The multi-part candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the candle trend scenarios as percentages of total 1-part candle trends. And columns four and seven display the total candle trend scenarios as percentages of the last, or preceding candle trend part. For example 4-part higher high trends as a percentages of 3-part higher high trends. This offers more insight into what might happen next at any given point in time.
Plots
For a visual aid to this indicator please use in conjunction with my Upper Candle Trends and Lower Candle Trends indicators which can both be found on my profile page under scripts, or in community scripts under the same names.
Green up-arrows, with the number of the trend part, denote higher high trends when above bar and higher low trends when below bar. Red down-arrows, with the number of the trend part, denote lower high trends when above bar and lower low trends when below bar.
█ HOW TO USE
This is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current upper or lower candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Heikinisi Candle (With MA + Smoothing + Buy/Sell with Cooldown)This custom Heikinisi Candle (With MA + Smoothing + Buy/Sell with Cooldown) indicator combines the advantages of Heikin-Ashi candles with the flexibility of multiple moving averages and smoothing options. The built-in buy/sell signals with cooldown functionality help traders avoid overtrading while capturing trend reversals and momentum shifts. Whether you're a day trader, swing trader, or long-term investor, this indicator offers powerful tools for analyzing price action and making informed trading decisions.
Note: Disable the regular candle to get better visualization.
Key Features:
Custom Heikin-Ashi Candles:
The core feature of this script is the Heikin-Ashi candles, which are known for smoothing price action and helping traders identify market trends more clearly.
Unlike traditional Heikin-Ashi, this version adjusts the Heikin-Ashi close based on specific price action patterns, including rejection signals and engulfing patterns.
The custom Heikin-Ashi open also incorporates momentum, adjusting dynamically based on recent price changes.
Price Action Measurements:
The indicator measures key price action components, including:
Body: The absolute difference between the open and close.
Candle Range: The total range from high to low.
Upper Wick: The distance from the highest price to the maximum of open or close.
Lower Wick: The distance from the lowest price to the minimum of open or close.
These measurements help detect bullish and bearish conditions, as well as price rejection signals.
Buy/Sell Signal Logic:
Buy Signal: Triggered when the Heikin-Ashi close is above the chosen moving average (MA1), with a cooldown period to avoid too frequent signals.
Sell Signal: Triggered when the Heikin-Ashi close falls below the MA1 after a buy signal has already been issued.
The cooldown period ensures that buy and sell signals are spaced apart by a specific number of bars, preventing excessive signal generation during periods of price consolidation.
Multiple Moving Averages (MA):
This script supports up to three customizable moving averages (MA1, MA2, MA3), each of which can be set to different types and lengths, including:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Volume Weighted Moving Price (VWMP)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Double Exponential Moving Average (DEMA)
Triple Exponential Moving Average (TEMA)
Users can adjust the length and type of each MA for tailored analysis.
Smoothing Options for MAs:
Users can smooth the output of MAs using various types of smoothing algorithms (SMA, EMA, LSMA, WMA, Gaussian) and a customizable length. This helps to reduce noise in the moving average lines and provides clearer signals.
Gaussian Filter (Advanced Smoothing):
A Gaussian Filter is available as a smoothing option for MAs. This filter reduces noise and makes the moving averages smoother, which can be particularly helpful in volatile or choppy markets.
Alerts and Visualization:
The script allows users to plot buy and sell signals on the chart with distinctive markers. A Buy Signal is shown below the bar with a lime green marker and text "Buy," while a Sell Signal is shown above the bar with a red marker and text "Sell."
Traders can also set up alerts based on the buy/sell signals to get notified in real time.
Indicator Configuration:
Heikin-Ashi Candle Configuration:
Automatically adjusts Heikin-Ashi candles based on rejection signals, engulfing patterns, and momentum. It uses custom formulas for the Heikin-Ashi open and close, making it more sensitive to price action than standard Heikin-Ashi candles.
Moving Averages (MA) Configuration:
You can select from multiple moving average types and lengths (MA1, MA2, MA3) for trend-following analysis.
Choose between SMA, EMA, WMA, VWMA, VWMP, LSMA, HMA, DEMA, and TEMA.
Smoothing Options:
Enable or disable smoothing for the moving averages.
Select from different smoothing types, including SMA, EMA, RMA, WMA, LSMA, and Gaussian.
Cooldown Period:
Control the number of bars that must pass before a new buy/sell signal is triggered. This cooldown period helps prevent excessive trading signals in quick succession.
How to Use:
Analyze Price Action with Heikin-Ashi Candles:
The custom Heikin-Ashi candles are ideal for spotting market trends, reversals, and price rejection. Use the candle patterns to gauge the market sentiment.
Use MAs for Trend Confirmation:
The moving averages (MA1, MA2, MA3) can help identify the prevailing trend. A price above a rising MA indicates an uptrend, while a price below a falling MA suggests a downtrend.
Trigger Buy and Sell Signals:
When the Heikin-Ashi close crosses above MA1, a buy signal is triggered.
When the Heikin-Ashi close crosses below MA1 after a buy signal, a sell signal is triggered.
The cooldown period ensures that signals are spaced out, preventing overtrading.
Use Smoothing for Clearer Signals:
If you are trading in a volatile market, you can use the smoothing options to make the MAs smoother and reduce noise.
Naive Bayes Candlestick Pattern Classifier v1.1 BETAAn intermezzo on why i made this script publication..
A : Candlestick Pattern took hours to backtest, why not using Machine Learning techniques?
B : Machine Learning, no that's gonna be really heavy bro!
A : Not really, because we use Naive Bayes.
B : The simplest, yet powerful machine learning algorithm to separate (a.k.a classify) multivariate data.
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Hello, everyone!
After deep research in extracting meaningful information from the market, I ended up building this powerful machine learning indicator based on the evolution of Bayesian Statistics. This indicator not only leverages the simplicity of Naive Bayes but also extends its application to candlestick pattern analysis, making it an invaluable tool for traders who are looking to enhance their technical analysis without spending countless hours manually backtesting each pattern on each market!.
What most interesting part is actually after learning all of likely useless methods like fibonacci, supply and demand, volume profile, etc. We always ended up back to basic like support and resistance and candlestick patterns, but with a slight twist on strategy algorithm design and statistical approach. Thus, the only reason why i made this, because i exactly know that you guys will ended up in this position as time goes by.
The essence of this indicator lies in its ability to automate the recognition and statistical evaluation of various candlestick patterns. Traditionally, traders have relied on visual inspection and manual backtesting to determine the effectiveness of patterns like Bullish Engulfing, Bearish Engulfing, Harami variations, Hammer formations, and even more complex multi-candle patterns such as Three White Soldiers, Three Black Crows, Dark Cloud Cover, and Piercing Pattern. However, these conventional methods are both time-consuming and prone to subjective bias.
To address these challenges, I employed Naive Bayes—a probabilistic classifier that, despite its simplicity, offers robust performance in various domains. Naive Bayes assumes that each feature is independent of the others given the class label, which, although a strong assumption, works remarkably well in practice, especially when the dataset is large like market data and the feature space is high-dimensional. In our case, each candlestick pattern acts as a feature that can be statistically evaluated based on its historical performance. The indicator calculates a probability that a given pattern will lead to a price reversal, by comparing the pattern’s close price to the highest or lowest price achieved in a lookahead window.
One of the standout features of this script is its flexibility. Each candlestick pattern is not only coded into the system but also comes with individual toggles to enable or disable them based on your trading strategy. This means you can choose to focus on single-candle patterns like Bullish Engulfing or more complex multi-candle formations such as Three White Soldiers, without modifying the core code. The built-in customization options allow you to adjust colors and labels for each pattern, giving you the freedom to tailor the visual output to your preference. This level of customization ensures that the indicator integrates seamlessly into your existing TradingView setup.
Moreover, the indicator isn’t just about pattern recognition—it also incorporates outcome-based learning. Every time a pattern is detected, it looks ahead a predefined number of bars to evaluate if the expected reversal actually materialized. This outcome is then stored in arrays, and over time, the script dynamically calculates the probability of success for each pattern. These probabilities are presented in a real-time updating table on your chart, which shows not only the percentage probability but also the count of historical occurrences. With this information at your fingertips, you can quickly gauge the reliability of each pattern in your chosen market and timeframe.
Another significant advantage of this approach is its speed and efficiency. While more complex machine learning models like neural networks might require heavy computational resources and longer training times, the Naive Bayes classifier in this script is lightweight, instantaneous and can be updated on the fly with each new bar. This real-time capability is essential for modern traders who need to make quick decisions in fast-paced markets.
Furthermore, by automating the process of backtesting, the indicator frees up your time to focus on other aspects of trading strategy development. Instead of manually analyzing hundreds or even thousands of candles, you can rely on the statistical power of Naive Bayes to provide you with insights on which patterns are most likely to result in profitable moves. This not only enhances your efficiency but also helps to eliminate the cognitive biases that often plague manual analysis.
In summary, this indicator represents a fusion of traditional candlestick analysis with modern machine learning techniques. It harnesses the simplicity and effectiveness of Naive Bayes to deliver a dynamic, real-time evaluation of various candlestick patterns. Whether you are a seasoned trader looking to refine your technical analysis or a beginner eager to understand market dynamics, this tool offers a powerful, customizable, and efficient solution. Welcome to a new era where advanced statistical methods meet practical trading insights—happy trading and may your patterns always be in your favor!
Note : On this current released beta version, you must manually adjust reversal percentage move based on each market. Further updates may include automated best range detection and probability.
Strategy: Candlestick Wick Analysis with Volume Conditions
This strategy focuses on analyzing the wicks (or shadows) of candlesticks to identify potential trading opportunities based on candlestick structure and volume. Based on these criteria, it places stop orders at the extremities of the wicks when certain conditions are met, thus increasing the chances of capturing significant price movements.
Trading Criteria
Volume Conditions:
The strategy checks if the volume of the current candle is higher than that of the previous three candles. This ensures that the observed price movement is supported by significant volume, increasing the probability that the price will continue in the same direction.
Wick Analysis:
Upper Wick:
If the upper wick of a candle represents more than 90% of its body size and is longer than the lower wick, this indicates that the price tested a resistance level before pulling back.
Order Placement: In this case, a Buy Stop order is placed at the upper extremity of the wick. This means that if the price rises back to this level, the order will be triggered, and the trader will take a buy position.
SL Management: A stop-loss is then placed below the lowest point of the same candle. This protects the trader by limiting losses if the price falls back after the order is triggered.
Lower Wick:
If the lower wick of a candle is longer than the upper wick and represents more than 90% of its body size, this indicates that the price tested a support level before rising.
Order Placement: In this case, a Sell Stop order is placed at the lower extremity of the wick. Thus, if the price drops back to this level, the order will be triggered, and the trader will take a sell position.
SL Management: A stop-loss is then placed above the highest point of the same candle. This ensures risk management by limiting losses if the price rebounds upward after the order is triggered.
Strategy Advantages
Responsiveness to Price Movements: The strategy is designed to detect significant price movements based on the market's reaction around support and resistance levels. By placing stop orders directly at the wick extremities, it allows capturing strong movements in the direction indicated by the candles.
Securing Positions: Using stop-losses positioned just above or below key levels (wicks) provides better risk management. If the market doesn't move as expected, the position is automatically closed with a limited loss.
Clear Visual Indicators: Symbols are displayed on the chart at the points where orders have been placed, making it easier to understand trading decisions. This helps to quickly identify the support or resistance levels tested by the price, as well as potential entry points.
Conclusion
The strategy is based on the idea that large wicks signal areas where buyers or sellers have tested significant price levels before temporarily retreating. By placing stop orders at the extremities of these wicks, the strategy allows capturing price movements when they confirm, while limiting risks through strategically placed stop-losses. It thus offers a balanced approach between capturing potential profit and managing risk.
This description emphasizes the idea of capturing significant market movements with stop orders while providing a clear explanation of the logic and risk management. It’s tailored for publication on TradingView and highlights the robustness of the strategy.
Muqwishi Volumetric CandleIntroduction
Have you ever heard that each candle represents a battle between bulls (buyer) and bears (seller)? If you know the answer, apparently you understand what the price action means. What if I ask you, how much was bloody in each battle between bulls and bears?!. This indicator may give a clear picture of how to identify the candle’s strength by implementing the Standard Deviation on volume and reshape the candle.
The Muqwishi Volumetric Candles indicator works to weigh each candle instantaneously and updates its color level from lightness to darkness based on the rate of the volumetric standard deviation.
Here’s how the idea started with the conceptual design, then improved till achieved to the implemented design of a structured candle.
The conceptual design mentioned for reviewing how the idea started. However, I want you to understand the “implemented design” in which the indicator has been built to address it. As I stated structurally for the implemented design section, wick and border are identified by the user through “Chart Properties” unlike core and body is measured by the indicator.
The candle’s body is ”Dynamic” that colored based on the amount of volume standard deviation in which the low volume standard deviation is a lighter candle’s color and the high volume standard deviation is a darker candle’s color. The core is “Static” color represents zero volume standard deviation which the volume at the average level. In the case where the core is darker than the body means the volume standard deviation is lower than the average volume level, and when the core is lighter than the body mean the volume standard deviation is higher than the average volume level, and when the core’s color has the same body’s color means the volume is in the average level. The image is the best guide to understand the idea.
Rarely seeing a volume standard deviation below -2σ, even though the volume is apparently dead. However, it’s possible to see more than 3.9σ, and mostly it has the same effect as 3.9σ. Personally, any candle above 1.5σ is taking my attention, and more than 2σ I look around seeking for reasons to not take a trade.
§§ Note, if you have misunderstood the standard deviation concept, there are many great sources to understand it such as Wikipedia, YouTube,... etc. In a basic example, How much is your height relative to the height of average people in your city!!?. Similarly, how much is the amount of volume relative to the average volume of a number series of previous bars?!.
Indicator Overview
Before I get into this section, this is NOT meant to be an educational or recommendation. Just showing you how I use this indicator based on an experience.
The chart above has been remarked as an example of how I apply it. Again, it’s a personal preference, and it doesn’t mean this’s an efficient way.
Indicator Setting
➤ Ensure to visualize the indicator to the front for recognition of the candle’s core.
For more information check the image: drive.google.com
➤ Indicator’s title.
Generates two outputs. The first one is the coordinate location for the char “Core”, don’t pay attention to it. The second one colored in blue is referring to the measurement of the volume standard deviation as your cursor point move at any candle on the chart. For more information check the image: drive.google.com
➤ Indicator’s inputs.
■ Length: Number of previous bars covered in the calculation. Prefer between 14-20.
■ Long Candle Color: Choose a color for bullish candles.
■ Short Candle Color: Choose a color for bearish candles.
■ Color Mode: Kinda color style.
● Lightness: From lightness to darkness colored as low volume SD to high volume SD.
● Saturation: From narrow range to wide range colored as low volume SD to high volume SD.
■ Reverse Mode: Yes → Darkness to Lightness colored as low SD to high SD.
■ Show Core: No → Hide cores.
Summarize
■ Users should have a fundamental knowledge of Standard Deviation.
■ The candle’s body is dynamic colored. Got light as low volume standard deviation, and Dark as high volume standard deviation occurred.
■ The Candle’s core is static colored. Represents the average volume which Standard Deviation equals zero.
■ This’s not a trading signal. It works to visualize the level of transactions made per candle.
Final Comments
■ My goal was to achieve the conceptual design, but there’re many obstacles that go beyond the coding ability.
■ Let me know if you have any questions, comments, and any improvements to the project.
■ I hope every time you found this indicator useful and scaled up your trading skills, please present support through PayPal that linked in the signature box below. That will help to get me excited and post many ideas.
■ Trade Safe. ✌
LinReg Heikin Ashi CandlesLinear Regression Heikin Ashi Candles will dramatically change how the candlesticks on your chart will appear. This script creates Heikin Ashi candles from the existing candlesticks and then applies wickless Linear Regression candles as an overlay. The result is an ultra smoothed 'Renko-like' chart that remains time-based and responsive.
Key Features:
Heikin Ashi Base: Provides a smoother representation of price trends by filtering out noise.
Linear Regression Candles on Heikin Ashi: Plots Linear Regression lines as candles on the Heikin Ashi chart, potentially highlighting the immediate trend direction and momentum within the smoothed data. Wicks are intentionally removed for a clearer focus on the linear progression.
Tillson T3 Moving Averages: Includes fast and slow T3 Moving Averages with customizable length and alpha. These smoothed moving averages can help identify trend direction and potential crossover signals. Users can toggle their visibility.
Volatility Bands: Integrates Volatility Bands based on Average True Range (ATR) with customizable length, ATR type (RMA, SMA, EMA, WMA), and inner/outer multipliers. These bands help gauge price volatility and potential reversal zones. Users can toggle the visibility of the basis line.
Customizable Colors: Allows users to customize the colors of the Linear Regression Heikin Ashi bullish and bearish candles.
How to Use:
This is an overlay on your chart so you'll need to 'hide' the existing candlesticks on your chart.
This indicator can be used on any timeframe from seconds to days to quickly identify market trend, gauge volatility, and potentially find entry/exit points. Consider looking for confluence between the candle color/direction, T3 MA crossovers, and price interaction with the Volatility Bands.
Note: This indicator plots Linear Regression directly on Heikin Ashi candles, removing wicks for a focus on the linear trend within the smoothed data. Adjust the input parameters to suit your trading style and the specific market conditions.
HUGE CREDIT to ugurvu who originally created the Linear Regression Candles indicator that my indicator pulls code from.
Inside Bar + Bullish and Bearish candlestick [Tarun]
Inside Bar Detection:
The function isInsideBar() checks if a bar is an inside bar, meaning its high is lower than the previous bar's high and its low is higher than the previous bar's low.
Inside bars are highlighted with an orange color.
Bearish Candlestick Patterns:
Bearish Engulfing: When the current candlestick's body completely engulfs the previous candlestick's body.
Dark Cloud Cover: When a bullish candle is followed by a bearish candle that opens above the previous bullish candle's close but closes below its midpoint.
Bearish Harami: When a small bullish candlestick is engulfed by a larger bearish candlestick.
Evening Star: A three-candle pattern consisting of a large bullish candle, a small-bodied candle with a gap up or down, and a large bearish candle that closes below the midpoint of the first candle.
Shooting Star: A single candlestick pattern with a small real body near the bottom of the price range and a long upper shadow.
Bearish Marubozu: A candlestick with a long bearish body and little to no upper or lower shadows.
Bearish candlestick patterns are highlighted with a red color and labeled with abbreviated names.
Bullish Candlestick Patterns:
Bullish Engulfing: Opposite of bearish engulfing, where the current candlestick's body completely engulfs the previous candlestick's body.
Piercing Pattern: When a bearish candle is followed by a bullish candle that opens below the previous bearish candle's low but closes above its midpoint.
Bullish Harami: Similar to bearish harami but bullish, where a small bearish candlestick is engulfed by a larger bullish candlestick.
Morning Star: A three-candle pattern opposite to the evening star, signaling a potential reversal from downtrend to uptrend.
Bullish Hammer: A single candlestick pattern with a small real body near the top of the price range and a long lower shadow.
Bullish Marubozu: A candlestick with a long bullish body and little to no upper or lower shadows.
Bullish candlestick patterns are highlighted with a purple color and labeled with abbreviated names.
Bullish vs. Bearish Candle CounterFollowing an exhaustive analysis of the most recent 50,000 candles within a given currency pair, a notable equilibrium between bearish and bullish candles has emerged as a persistent market phenomenon. This equilibrium, indicative of the market's continuous endeavor to establish parity, has spurred the development of the following indicator.
The indicator meticulously scrutinizes the preceding 100 candles, promptly triggering an on-chart marker when either bullish or bearish candle counts surpass the threshold of 60%. This marker serves as an invaluable tool, providing traders with a potential signal for the initiation of a trend reversal.
As such, this indicator serves as a valuable asset in a trader's toolkit, offering insights into shifts in market sentiment and the prospect of emerging trends.
Key Features:
- Customizable Candle Count: Traders can set the number of candlesticks to be analyzed in the input parameters, allowing flexibility in their analysis.
- Bullish and Bearish Percentage: Users can define their desired percentage for both bullish and bearish candles in the indicator's settings. The indicator calculates the percentage of each candle type within the specified range.
- Arrow Signals: The indicator plots arrows above or below the current candle, indicating bullish or bearish conditions based on the defined percentage thresholds. A green arrow signifies bullish sentiment, while a red arrow denotes bearish sentiment.
How to Use:
- Adjust Parameters: In the indicator settings, users can customize the number of candlesticks to be analyzed, as well as set their preferred percentages for both bullish and bearish conditions.
- Interpret Arrows: The indicator generates arrows above or below the current candle, reflecting the prevailing market sentiment. A green arrow suggests a bullish bias, while a red arrow indicates a bearish bias.
- Trade with Confidence: Traders can use this indicator as a tool to gauge market sentiment and make informed trading decisions. It helps identify potential entry and exit points based on the chosen percentage thresholds.
CPR with inside candle, Pivot Points and 4EMA The CPR trading strategy is a technical analysis approach that combines multiple indicators to determine potential price levels and trading opportunities. The strategy uses three main components: Inside Candles, Pivot Points, and the 4EMA.
Inside Candles: The Inside Candle pattern is a candlestick pattern where the current candle has a lower high and a higher low than the previous candle. This pattern can indicate a period of consolidation or indecision in the market and can signal a potential reversal or continuation of the trend.
Pivot Points: Pivot Points are technical indicators that use the previous day's price data to calculate key levels of support and resistance for the current trading day. These levels can act as potential areas of buying or selling pressure and can help traders identify potential entry and exit points.
4EMA: The 4EMA is a short-term Exponential Moving Average that tracks the average price of an asset over the previous four periods. This indicator is used to help identify short-term trends in the market and can signal potential buying or selling opportunities.
To apply the CPR strategy, traders first look for Inside Candles on their chart, indicating a period of consolidation or indecision in the market. Next, they identify the Pivot Points for the current trading day, which can act as potential areas of support or resistance. Finally, traders use the 4EMA to confirm the direction of the trend and potential entry or exit points.
For example, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating an uptrend, this could be a potential buying opportunity. Conversely, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating a downtrend, this could be a potential selling opportunity.
Oxy CandlestickOxymoronic (oxy) candlesticks often appear at significant levels in a chart and can indicate increased probabilities of directional moves.
Typically, green candles are hollow and red candles are filled. An oxymoronic candle is colored bullishly but filled bearishly (solid green) or vice versa (hollow red).
Oxy flags occur when:
1) Price gaps up and closes lower than the open but above the last close. A solid green (or black) candle is bearish.
2) Price gaps down and closes higher than the open but below the last close. A hollow red candle is bullish.
An oxy candle indicates one of three things:
1) Price is going up (bullish oxy)
2) Price is going down (bearish oxy)
3) Price will return to this level (either)
#1 and #2 are the default meaning. If those don't play out then look for #3.
As is the case with most indicators, it is best not to use this indicator in isolation, but to combine it with other forms of analysis to increase your probabilities and to identify significant levels.
DeltaStrike — Aggressive Candle Detector by Chaitu50cDeltaStrike — Aggressive Candle Detector
by Chaitu50c
DeltaStrike is a simple and effective tool designed to help traders identify the most aggressive candles on the chart in real time. It works purely on price action and internal candle dynamics, with no reliance on lagging indicators.
The indicator combines delta (directional strength), candle range, and volume to compute an overall aggressiveness score for each candle. When this score exceeds a dynamic threshold based on recent market behavior, the candle is marked as an aggressive move.
Aggressive bullish candles are plotted as green diamonds below the candle, while aggressive bearish candles are plotted as red diamonds above the candle. The goal is to help traders visually spot moments of strong directional pressure, where potential trends or reversals may emerge.
The detection logic adapts automatically to changing market volatility and volume, making it suitable for all instruments and timeframes, including index futures, equities, and forex.
An integrated dashboard on the chart displays live readings of the key components contributing to each candle’s aggressiveness score: delta ratio, range ratio, and volume ratio. This helps traders understand the internal structure of each aggressive move.
Features:
Dynamic aggressiveness detection based on delta, range, and volume
Adaptive threshold for consistent behavior across timeframes and instruments
Clean chart output with clear diamond markers only on selected candles
Live dashboard with internal metrics for advanced analysis
Simple, lightweight, and optimized for intraday and swing trading
Works with any instrument: index, equity, forex, commodity
DeltaStrike is intended as an objective visual aid to help traders focus on genuine moments of strong market intent, filtering out ordinary or passive price movement. It can be used standalone or in combination with your existing trading strategy.
