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OPEN-SOURCE SCRIPT

CFR - Candle Formation Ratio

97
Description
This indicator is designed to detect candles with small bodies and significant wick-to-body ratios, often useful for identifying doji-like structures and potential accumulation areas.

Features
  • Filter candles by maximum body size (% of the total candle range).
  • Require that wicks are at least X times larger than the body.
  • Define the position of the body within the candle (e.g., body must be between 40% and 60% of the candle height).
  • Visual output: a single arrow marker when conditions are met.
  • Fully customizable marker color and size.

⚠️ Note: The settings of this version are currently in Turkish. An English version of the settings will be released in the future.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Beyazmo
candlecandleformationCandlestick analysiscandlestickpatterncandlesticksignalscandletrend

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
candlecandleformationCandlestick analysiscandlestickpatterncandlesticksignalscandletrend

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Beyazmo

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.