Shows sentiment, divergences, patterns, horizontal and ...
Works best with HODL SR - (https://www.tradingview.com/market/th-hodlsr/)
Find documentation, examples & screencasts on http://hodl.org/#hodlstick
Support: PM @hodl, http://hodl.org/#contact
If you have suggestions or discovered new patterns, don't hesitate to share with me & community
Subscribe to HODL SR (you won't regret it)
// HODL Stick v.4, 21.8.2015 // Part of Project HODL // Author: @hodl (https://www.tradingview.com/u/hodl/, http://hodl.org) // // supports custom timeframe // // evaluates candles and plots a line graph // shows sentiment, divergences, patterns, horizontal and trendline support and resistance... // works best with HODL SR - Support & Resistance (https://www.tradingview.com/market/th-hodlsr/) // find documentation, examples & screencasts on http://hodl.org/#hodlstick // support: PM @hodl, http://hodl.org/#contact // // If you have suggestions or discovered new patterns, don't hesitate to share with me & community // // // Support development: // BTCBeerJar: 1JFJRXKX2TWztR6reNNN3ngqiDRQ1cjRQt // Subscribe to HODL SR (you won't regret it) - https://www.tradingview.com/market/th-hodlsr/. // If you use this code or part of the code, don't forget to credit hodl.org and link to the source study("Hodl Stick v.4", precision=1) // inputs customTf = input(false, 'Custom Timeframe?', bool) customTfVal = input('60', 'Custom Timeframe:', resolution) timeframe = customTf?customTfVal:period calcCandle()=> o = open c = close h = high l = low v = volume candleHeight = h-l bodyHeight = abs(o-c) topBody = o<c?c:o bottomBody = o<c?o:c topWick = h-topBody bottomWick = bottomBody-l previousStrenght = candleHeight/nz(candleHeight) wickStrenght = nz((topWick-bottomWick) / candleHeight) bodyStrenght = nz((o-c) / candleHeight) candleStrenght = avg(wickStrenght, bodyStrenght) * -1 candleStrenght out = security(tickerid, timeframe, calcCandle()) cum = cum(out) col = cum > cum?green: cum < cum?red:yellow pStick = plot( cum, color=col, title="HODL Stick") pOverlay = plot( cum, color=yellow, offset=-1, title="Overlay Line")
I noticed some of you are using Heikin Ashi candlesticks with HODL Stick. Heikin Ashi calculates open, high, low and close differently so Stick is not plotted correctly. The output is interesting and I will definitely spend some time analysing it.
Current advice: use normal candlestick with HODL Stick.