Candle Type (The Strat)

This script identifies the 3 different candle types for use in #TheStrat (see Twitter ).

Candle Type 1 - Inside Candle
Candle Type 2- Up or Down Candle
Candle Type 3 - Engulfing Candle

Analysis of the candle types can help you define actionable signals and draw broadening formations.
Release Notes: Set the precision of the plot to zero as the result is binary for the bar type. Removed an unnecessary variable.
Release Notes: Modified colors to work better across both black and white backgrounds.
Release Notes: Added a version number in the configuration menu.
Code cleanup.
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In your description, candle type 3 should be an outside candle rather than an engulfing candle.

Engulfing candle is determined by the body of the candle.

Outside candle is determined by the wicks of the candle.
Crinklebine coininvestor
@coininvestor, Yes, I will take a look and confirm the terminology. We want the terminology to be correct. Thank you for the feedback.
Crinklebine Crinklebine
@coininvestor Unfortunately, the Tradingview script publishing system does not allow me to update the initial description. And, since there is no code change to publish a release note is not generated. Hopefully users will read these comments and see that I endorse your naming convention. There is definitely a subtle and important difference between these two candle types. A "3" candle definition is meant to define an "outside candle" including the wicks. Thank you for advising on clarity.
coininvestor Crinklebine
@Crinklebine, Thanks for following up on this.
To add the script to your chart.

1. Open a chart
2. Press the Indicator button
3. Search for 'Candle Type'
4. Select the public script named 'Candle Type (The Strat)'

The script will be applied to your chart.
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