PROTECTED SOURCE SCRIPT
Conditional Candles - Full Control
Volume-Conditional Custom Candles
Candle coloring and style based on volume relative to its 20-period EMA:
High-volume bars (volume > EMA(20) of volume) – strong conviction:
- Bullish (close > open): White body with green border and green wicks
- Bearish (close < open): Solid red body with red border and red wicks
Low-volume bars (volume ≤ EMA(20) of volume) – weak conviction:
- Bullish (close > open): White body with black border and black wicks
- Bearish (close < open): Solid black body with black border and black wicks
Purpose: Highlights price moves backed by above-average volume while de-emphasizing low-participation bars. Strong bullish moves appear as hollow green-bordered candles, strong bearish as solid red, and weak moves are muted (white/black or solid black).
Candle coloring and style based on volume relative to its 20-period EMA:
High-volume bars (volume > EMA(20) of volume) – strong conviction:
- Bullish (close > open): White body with green border and green wicks
- Bearish (close < open): Solid red body with red border and red wicks
Low-volume bars (volume ≤ EMA(20) of volume) – weak conviction:
- Bullish (close > open): White body with black border and black wicks
- Bearish (close < open): Solid black body with black border and black wicks
Purpose: Highlights price moves backed by above-average volume while de-emphasizing low-participation bars. Strong bullish moves appear as hollow green-bordered candles, strong bearish as solid red, and weak moves are muted (white/black or solid black).
Protected script
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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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.