timj

Big Candles v1

344 3 29
This script simply takes a user-defined bar height number (variable barHeight) to find large candles. Automatically colors large bullish and bearish candles green or red, respectively. The barHeight can be modified to fit your needs.

Use this in a variety of ways:
- Confirm breakouts of support / resistance
- Identify new trends
Remove from Favorite Scripts Add to Favorite Scripts
//@version=2
strategy("Big Candles", overlay=true)

barHeight = input(.032)

bigUp() => close > open and high-low > barHeight
bigDown() => close < open and high-low > barHeight

plotshape(bigUp(), color=green, style=shape.arrowup, text="Buy")
plotshape(bigDown(), color=red, style=shape.arrowdown, text="Sell")
barcolor(bigDown() ? red : bigUp() ? green : gray)
cristian.d
11 months ago
Most of the time a large candle indicates end of a move, climax, not the start
Reply
timj PRO cristian.d
11 months ago
Note necessarily, although you can use it in any way you wish. Here are some other people investigating this strategy:

http://www.forexfactory.com/showthread.php?t=472331
http://www.theforexguy.com/power-candle-strategy/
Reply
timj PRO timj
11 months ago
I think a Doji indicates a reversal
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out