OPEN-SOURCE SCRIPT
Updated StO Price Action - Impulse Candle
Short Summary
- Highlights impulse candles based on relative momentum
- Compares current or previous closed candles against prior price movement
- Uses a configurable momentum factor to filter significant impulses
- Designed to make strong directional candles visually stand out
Full Description
Overview
- Identifies impulse candles with strong momentum
- Focuses on candle-to-candle expansion rather than trend or structure
- Intended to visually emphasize moments of acceleration in price
- Works as a complementary tool to price action and volatility analysis
Impulse Candle Logic
- Impulse candles are detected by comparing the current candle range to previous candles
- A candle is considered an impulse when its range exceeds prior movement by a defined factor
- The comparison basis can be (current forming Candle, previous fully closed Candle)
Momentum Factor
- The momentum factor defines how much stronger a candle must be compared to earlier candles
- Higher values filter out smaller moves and highlight only extreme impulses
- Lower values allow more frequent impulse detection
- Helps adapt the indicator to different instruments and volatility regimes
Range Calculation
- Two range calculation modes are available:
- Open / Close (Body range):
- Measures body-based momentum
- Focuses on directional conviction
- High / Low (Candle range):
- Measures full volatility expansion
- Includes wicks and intrabar extremes
Visualization
- Impulse candles are highlighted using a customizable bar color
- Designed to remain minimal and unobtrusive
Alerts
- Optional alert can be enabled after detected impulse candles
- Useful for monitoring momentum shifts without constant screen time
Usage
- Suitable for breakout detection and momentum confirmation
- Helps identify volatility expansion phases
- Can be used for entry timing or trade management
Notes
- This indicator does not predict direction on its own
- Impulse candles may occur in both trending and ranging markets
- Best used in combination with structure, levels or higher-timeframe context
- Momentum thresholds should be adjusted per market and timeframe
- Highlights impulse candles based on relative momentum
- Compares current or previous closed candles against prior price movement
- Uses a configurable momentum factor to filter significant impulses
- Designed to make strong directional candles visually stand out
Full Description
Overview
- Identifies impulse candles with strong momentum
- Focuses on candle-to-candle expansion rather than trend or structure
- Intended to visually emphasize moments of acceleration in price
- Works as a complementary tool to price action and volatility analysis
Impulse Candle Logic
- Impulse candles are detected by comparing the current candle range to previous candles
- A candle is considered an impulse when its range exceeds prior movement by a defined factor
- The comparison basis can be (current forming Candle, previous fully closed Candle)
Momentum Factor
- The momentum factor defines how much stronger a candle must be compared to earlier candles
- Higher values filter out smaller moves and highlight only extreme impulses
- Lower values allow more frequent impulse detection
- Helps adapt the indicator to different instruments and volatility regimes
Range Calculation
- Two range calculation modes are available:
- Open / Close (Body range):
- Measures body-based momentum
- Focuses on directional conviction
- High / Low (Candle range):
- Measures full volatility expansion
- Includes wicks and intrabar extremes
Visualization
- Impulse candles are highlighted using a customizable bar color
- Designed to remain minimal and unobtrusive
Alerts
- Optional alert can be enabled after detected impulse candles
- Useful for monitoring momentum shifts without constant screen time
Usage
- Suitable for breakout detection and momentum confirmation
- Helps identify volatility expansion phases
- Can be used for entry timing or trade management
Notes
- This indicator does not predict direction on its own
- Impulse candles may occur in both trending and ranging markets
- Best used in combination with structure, levels or higher-timeframe context
- Momentum thresholds should be adjusted per market and timeframe
Release Notes
Minor ChangesOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.