Shizaru

Normalized Candlesticks (Stochastic Candles)

264 1 26
The original script was posted on ProRealCode by user Nicolas.

This indicator is a normalized price representation made with candlesticks . The dynamic scale between 0 and 100% is calculated upon the last X periods (50 periods in the code, you can change it at will). It can be used to detect price exhaustion in a trend of continuation if the candlesticks remains above the 50% level.

Another utility is the use of the different levels that could be changed to Fibonacci levels for examples (23.6% 38.2% etc.) and detect rebounds of breakout of these levels.
Remove from Favorite Scripts Add to Favorite Scripts
can u create something like RSI in candles
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out