- If a candle has a higher high and a lower close than the previous candle, it is marked with a red HHLC downward pointing arrow.
- If a candle has a lower low and a higher close than the previous candle, it is marked with a green LLHC upward pointing arrow.
Remember to check:
1. What market cycle the price action for a stock is in.
2. Which reversal you're looking for as a result of that market cycle.
I'm not a pro, so hopefully, the stuff to remember is correct. Please examine the candles to determine if they fit your parameters for a reversal candle.
Shout out to TJ for teaching about these reversal candles! He's a freaking boss!!
These changes were put in to make the chart less busy when the indicator is applied.
- The text above the arrows has been removed.
- Arrow shapes have been changed to triangle shapes.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.