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Candlestick analysis

Chanlun - Strokes & Central ZonesChanlun Indicator - Strokes and Central Zones This indicator implements Chan lun's core concepts: Bi (Stroke): Basic price movement units formed by local highs and lows Zhongshu (Central Zone): Overlapping areas formed by at least 3 strokes Extension Lines: Visual guides for the latest central zone boundaries Key Features: Automatic stroke identification based on local extremes Central zone detection with customizable colors Extension lines for latest central zone (upper/lower bounds) Separate colors for strokes within central zones Price labels on the axis for zone boundaries Settings: Max Bars: Maximum K-lines to analyze (default: 4900) Lookback Period: Period for finding local extremes (default: 5) Min Gap Bars: Minimum bars between strokes (default: 4) Customizable colors for strokes, zones, and extension lines
Pine Script® indicator
by xaubtcdxy
3
Midnight Lines for Tokyo, London, New Yorkممتاز 👌 إليك **تعريفًا محدثًا وكاملًا للمؤشر باللغتين العربية والإنجليزية**، مع إدراج توضيح دقيق لتعامل المؤشر مع **تغيّر التوقيت الصيفي والشتوي (DST)** في لندن ونيويورك: --- ## 🇬🇧 **English Description (with DST behavior)** **Indicator name:** *Midnight Lines for Tokyo, London, and New York* **Purpose:** This indicator automatically draws **vertical lines** on the chart at **midnight (00:00)** for the three major global trading sessions: * **Tokyo** * **London** * **New York** ### 🔹 How it works: 1. The script checks each candle’s time using the built-in TradingView time zone function: * `"Asia/Tokyo"` * `"Europe/London"` * `"America/New_York"` 2. When it detects **00:00** in any of these zones, it draws: * A **vertical dotted line** that extends from the top to the bottom of the chart. * A **label** at the top with the session name (e.g., “Tokyo Midnight”). 3. Each session has its own color for clarity: * **Blue** → Tokyo Midnight * **Green** → London Midnight * **Red** → New York Midnight ### 🕒 Automatic Daylight Saving Time (DST) Adjustment: The indicator automatically adapts to **Daylight Saving Time changes** in both **London** and **New York**: * When London switches between **GMT and GMT+1**, the midnight line shifts automatically to remain accurate. * When New York switches between **EST and EDT**, the script also updates accordingly. * Tokyo does **not** observe DST, so its timing stays constant year-round. ### 🎯 Purpose: Helps traders visually track the start of each new trading day in the major sessions and analyze: * Session overlaps (e.g., London–New York overlap) * Session-based trading strategies * Price movement behavior at each new day open --- ## 🇸🇦 **الوصف بالعربية (مع إدراج تغير التوقيت)** **اسم المؤشر:** خطوط منتصف الليل لجلسات طوكيو، لندن، ونيويورك **الهدف:** يقوم هذا المؤشر تلقائيًا برسم **خطوط عمودية** على الرسم البياني عند **منتصف الليل (00:00)** لكل من الجلسات الثلاث الرئيسية: * **جلسة طوكيو** * **جلسة لندن** * **جلسة نيويورك** ### 🔹 كيفية العمل: 1. يستخدم المؤشر دوال TradingView لحساب الوقت الفعلي لكل مدينة: * `"Asia/Tokyo"` لطوكيو * `"Europe/London"` للندن * `"America/New_York"` لنيويورك 2. عند وصول الساعة إلى **00:00** بتوقيت أي مدينة، يرسم المؤشر: * **خطًا عموديًا متقطعًا** يمتد من أعلى إلى أسفل الرسم البياني. * **تسمية (Label)** أعلى الخط باسم الجلسة (مثل “Tokyo Midnight”). 3. كل جلسة لها لون مختلف: * **أزرق** → منتصف طوكيو * **أخضر** → منتصف لندن * **أحمر** → منتصف نيويورك ### 🕒 التعامل مع تغيّر التوقيت الصيفي والشتوي (DST): يتكيّف المؤشر تلقائيًا مع تغيّر التوقيت في لندن ونيويورك: * عندما تنتقل لندن بين **التوقيت الشتوي (GMT)** و**التوقيت الصيفي (GMT+1)**، يتحرك الخط تلقائيًا ليبقى في الساعة 00:00 المحلية. * وعندما تنتقل نيويورك بين **EST** و**EDT**، يتم تعديل الخط كذلك تلقائيًا. * أما طوكيو فلا تعتمد التوقيت الصيفي، لذا يبقى وقتها ثابتًا دائمًا على الساعة **00:00 JST**. ### 🎯 الفائدة: يساعد المتداولين على تحديد **بداية كل جلسة تداول رئيسية**، ومراقبة: * **تداخل الجلسات** مثل لندن ونيويورك * **تحركات السعر عند بداية اليوم الجديد** * **استراتيجيات التداول الزمنية حسب الجلسة** ---
Pine Script® indicator
by CrownForex
Renko BandsThis is renko without the candles, just the endpoint plotted as a line with bands around it that represent the brick size. The idea came from thinking about what renko actually gives you once you strip away the visual brick format. At its core, renko is a filtered price series that only updates when price moves a fixed amount, which means it's inherently a trend-following mechanism with built-in noise reduction. By plotting just the renko price level and surrounding it with bands at the brick threshold distances, you get something that works like regular volatility bands while still behaving as a trend indicator. The center line is the current renko price, which trails actual price based on whichever brick sizing method you've selected. When price moves enough to complete a brick in the renko calculation, the center line jumps to the new brick level. The bands sit at plus and minus one brick size from that center line, showing you exactly how far price needs to move before the next brick would form. This makes the bands function as dynamic breakout levels. When price touches or crosses a band, you know a new renko brick is forming and the trend calculation is updating. What makes this cool is the dual-purpose nature. You can use it like traditional volatility bands where the outer edges represent boundaries of normal price movement, and breaks beyond those boundaries signal potential trend continuation or exhaustion. But because the underlying calculation is renko rather than standard deviation or ATR around a moving average, the bands also give you direct insight into trend state. When the center line is rising consistently and price stays near the upper band, you're in a clean uptrend. When it's falling and price hugs the lower band, downtrend. When the center line is flat and price is bouncing between both bands, you're ranging. The three brick sizing methods work the same way as standard renko implementations. Traditional sizing uses a fixed price range, so your bands are always the same absolute distance from the center line. ATR-based sizing calculates brick range from historical volatility, which makes the bands expand and contract based on the ATR measurement you chose at startup. Percentage-based sizing scales the brick size with price level, so the bands naturally widen as price increases and narrow as it decreases. This automatic scaling is particularly useful for instruments that move proportionally rather than in fixed increments. The visual simplicity compared to full renko bricks makes this more practical for overlay use on your main chart. Instead of trying to read brick patterns in a separate pane or cluttering your price chart with boxes and lines, you get a single smoothed line with two bands that convey the same information about trend state and momentum. The center line shows you the filtered trend direction, the bands show you the threshold levels, and the relationship between price and the bands tells you whether the current move has legs or is stalling out. From a trend-following perspective, the renko line naturally stays flat during consolidation and only moves when directional momentum is strong enough to complete bricks. This built-in filter removes a lot of the whipsaw that affects moving averages during choppy periods. Traditional moving averages continue updating with every bar regardless of whether meaningful directional movement is happening, which leads to false signals when price is just oscillating. The renko line only responds to sustained moves that meet the brick size threshold, so it tends to stay quiet when price is going nowhere and only signals when something is actually happening. The bands also serve as natural stop-loss or profit-target references since they represent the distance price needs to move before the trend calculation changes. If you're long and the renko line is rising, you might place stops below the lower band on the theory that if price falls far enough to reverse the renko trend, your thesis is probably invalidated. Conversely, the upper band can mark levels where you'd expect the current brick to complete and potentially see some consolidation or pullback before the next brick forms. What this really highlights is that renko's value isn't just in the brick visualization, it's in the underlying filtering mechanism. By extracting that mechanism and presenting it in a more traditional band format, you get access to renko's trend-following properties without needing to commit to the brick chart aesthetic or deal with the complications of overlaying brick drawings on a time-based chart. It's renko after all, so you get the trend filtering and directional clarity that makes renko useful, but packaged in a way that integrates more naturally with standard technical analysis workflows.
Pine Script® indicator
by The_Peaceful_Lizard
26
Buy vs Sell Liquidity + Difference (Bottom Right)Script Summary (Short Notes) ⚙️ Purpose Tracks and displays Buy Volume vs Sell Volume difference during the day, based on candle direction. Useful for spotting liquidity imbalance between buyers and sellers. 📊 How It Works Volume Classification If close > open → counts volume as Buy Volume If close < open → counts volume as Sell Volume Aggregation Timeframe You can select a timeframe (1, 2, 3, 5, 15, 30 mins) Script recalculates data from that aggregation level. Daily Reset At the start of a new trading day, totals reset to zero. Cumulative Calculation Adds all buy/sell volumes as the day progresses. Calculates: Total Volume Difference (BUY − SELL) Percentages (%)
Pine Script® indicator
by dammucool
DAMMU AUTOMATICAL AI ENRTY AND TARGET AND EXITMain Components Supertrend System – Detects market trend direction (Buy/Sell zones). → Green = Uptrend (Buy) → Red = Downtrend (Sell) SMA Filter – Uses 50 & 200 moving averages to confirm overall trend. → Price above both → Bullish → Price below both → Bearish Buy/Sell Signals – Generated when Supertrend flips direction and SMA confirms. → Triangle up = Buy → Triangle down = Sell Take Profit / Stop Loss Levels – Automatically calculated after Buy/Sell entry. → TP1, TP2, SL shown on chart ADX (Sideways Zone Filter) – If ADX < 25 → Market sideways → Avoid trades Shows “No Trade Zone” area Smart Money Concepts (SMC) Tools – 🔹 Market structure (HH, HL, LH, LL) 🔹 Order blocks (OB) 🔹 Equal highs/lows 🔹 Fair Value Gaps (FVG) 🔹 Premium & Discount zones Helps find institutional entry points Visual Display – Color-coded background (trend zones) Labels for buy/sell/structure Optional FVG and order block boxes Risk Management – Input-based position sizing, SL & TP management (to calculate profit levels and minimize loss)
Pine Script® indicator
by dammucool
1
20 EMA Undercut Bounce - M4v3r1ck💎 The "EMA Undercut Bounce" Bullish Scanner This indicator is designed to identify high-conviction continuation patterns where price makes a temporary dip for liquidity before resuming a powerful, established uptrend. It specifically looks for a bullish rejection off the 20-period Exponential Moving Average (EMA). 🎯 Strategy Logic The signal is generated only on the Daily (1D) timeframe when the following five precise conditions are met on the most recent completed bar: 1. Price Action (The Undercut Bounce) • Undercut: The bar's low price must have touched or temporarily traded below the 20-Day EMA. • Rejection: The bar's close price must have fully recovered and closed above the 20-Day EMA. This is the classic sign of strong buying pressure defending a key support level. 2. Strong Trend Hierarchy (The Bullish Stack) The moving averages must be perfectly stacked, confirming a robust multi-timeframe uptrend structure: • 10-Day EMA > 20-Day EMA • 20-Day EMA > 50-Day SMA • 50-Day SMA > 200-Day SMA 3. Momentum Confirmation (The Upward Slope) Both the 10-Day EMA and the 20-Day EMA must be rising from the previous day. This ensures that the short-term trend momentum is positive, ruling out signals during flat or turning markets. 💡 How to Use This Indicator 1. Timeframe: Ensure your chart is set to the Daily (1D) timeframe for accurate results. 2. Signal: A Green Background highlight and an Up-Arrow below the bar mark a confirmed signal. 3. Alerts: Use the built-in alert condition to set up notifications for stocks on your watchlist, allowing you to catch these high-quality setups without constantly monitoring charts. This script is ideal for trend-following traders looking to enter a position after a healthy shakeout and confirmation of continued bullish commitment.
Pine Script® indicator
by M4v3r1ck_
Julius Single TrailJulius Single Trail — How it works This indicator combines a Kalman-like smoothed Donchian midline with an ATR-style volatility buffer to create a single adaptive trailing line that flips with trend. It also recolors candles to reflect regime and visually marks ranging conditions using Bollinger Band width. Optionally, it adds a dotted price line and can hide default candles for a clean, unified look. Core logic Donchian midpoint: Calculates the middle of the highest high and lowest low over Donchian Length. This is the directional anchor. Kalman-like smoothing: Applies a lightweight exponential update to the Donchian midpoint using Alpha, reducing noise while staying responsive. Volatility buffer: Uses RMA of True Range over Volatility Length multiplied by Volatility Multiplier to form an adaptive offset around the smoothed midline. Dynamic trail: Up-trend regime (regime = 1): The trail is kMid - offset and only ratchets upward (math.max), acting like a long stop. Down-trend regime (regime = -1): The trail is kMid + offset and only ratchets downward (math.min), acting like a short stop. Flip conditions: Regime flips only when price is on the far side of both the smoothed midpoint and the current trail: Flip to down when close < kMid and close < dynTrail Flip to up when close > kMid and close > dynTrail Candle styling: Wick color shows immediate price direction (green for bullish, red for bearish). Body color follows the trail’s regime (Uptrend Color or Downtrend Color). In ranging conditions, all candle elements turn gray. Ranging detection: Computes Bollinger Bands on close with BB Length and BB Multiplier. Calculates width as a percentage of the basis. If width% (optionally smoothed) is below Range Threshold %, candles are gray to signal consolidation. What it plots Dynamic Trail: A single, thick line that changes color by regime: Uptrend: Uptrend Color (default lime) Downtrend: Downtrend Color (default red) Optional Trail Fill to Close: A translucent band between the trail and the close (disabled by default). Optional Dotted Price Line: A dotted horizontal line at the current price (toggle via Show Dotted Price Line). Candle treatment: You can hide default candles (Hide Default Candles), then use a separate custom-candle script for wick/body/border mapping. In this script, default candles can be made fully transparent to let the trail and colors dominate. Inputs Donchian Length: Window for the highest/lowest used to form the midline. Kalman Alpha 0–1: Smoothing factor for the midline. Higher = more responsive, lower = smoother. Volatility Length: RMA length of True Range for the volatility buffer. Volatility Multiplier: Scales the buffer around the midline. Higher widens the trail, reducing flips. Uptrend Color / Downtrend Color: Trail and body color by regime. Show Cloud To Close: Fills between price and trail using the trail’s color. Hide Default Candles: Makes the native candles fully transparent. Show Dotted Price Line / Price Line Color: Toggles and colors the dotted price line. Ranging parameters: BB Length (Ranging) and BB Multiplier (Ranging): Bollinger Band settings. Range Threshold %: If BB width% < threshold, candles turn gray to indicate range. Use Smoothed Width / Width Smoothing Length: Smooths BB width% before comparison. Signals and interpretation Regime shifts: Bullish flip: When price closes above both the smoothed midpoint and the current trail. Trail switches to the lower band (kMid - offset) and ratchets up. Bearish flip: When price closes below both the smoothed midpoint and the current trail. Trail switches to the upper band (kMid + offset) and ratchets down. Trend bias: Green trail/body: Favor long bias; trail can serve as a dynamic stop. Red trail/body: Favor short bias; trail can serve as a dynamic stop. Ranging filter: Gray candles: Lower-probability trend continuation; consider reducing position sizing, waiting for a breakout, or using mean-reversion tactics. How to use it Trend following: Enter in the direction of the regime when flips occur or on pullbacks that respect the trail. Use the trail as a stop-loss guide: exit when price closes beyond the trail and the regime flips. Range awareness: When candles turn gray, avoid trend entries or switch to range tactics. Wait for color to return and a clean flip. Tuning suggestions: Faster, more responsive: Lower Donchian Length, increase Alpha, lower Volatility Length and/or Volatility Multiplier. Smoother, fewer flips: Increase Donchian Length, decrease Alpha, increase Volatility Length and/or Volatility Multiplier. Ranging strictness: Increase Range Threshold % to mark ranges more often; smooth the width to avoid choppiness. Example settings Swing trading: Donchian Length: 50 Alpha: 0.25 Vol Length: 14 Vol Mult: 1.6 BB Length: 20, BB Mult: 2.0, Range Threshold %: 2.0, Smoothed width ON (20) Intraday (more responsive): Donchian Length: 20–30 Alpha: 0.4–0.6 Vol Length: 10–14 Vol Mult: 1.2–1.6 Range Threshold %: 1.5–2.5 depending on instrument Alerts (suggested) Regime flips: Condition: close > dynTrail and close > kMid -> Alert: Bullish regime Condition: close < dynTrail and close < kMid -> Alert: Bearish regime Range state: Condition: BB width% < threshold -> Alert: Ranging You can wire these using alertcondition() on the flip conditions and isRange variable inside the script. Notes and limitations This is a single-side ratcheting trail per regime, designed to reduce whipsaw by requiring price to clear both the midpoint and the trail before flipping. Like all trend tools, it can lag tops/bottoms and may chop in low-volatility, sideways markets. For assets with highly irregular volatility, retune Volatility Multiplier and Range Threshold %. Short description (for header): Adaptive, single-line trailing stop based on Kalman-smoothed Donchian mid + ATR-style buffer. Colors candles by regime, grays out ranges via BB width. Optional price line and cloud. If you want, I can add alertcondition() for the flip and range events and a light custom-candle overlay so you can publish with built-in alert templates and consistent candle styling.
Pine Script® indicator
by mikescott10205
UTS CORE + BOS + CHOCH – RR/TP/SL 📊 Indicator Working Principle ### 🔹 1. BOS (Break of Structure) * **Definition:** Occurs when the price breaks the previous swing high or swing low level. * **Interpretation:** * If the last high is broken upwards → **Bullish BOS** (confirmation of uptrend). * If the last low is broken downwards → **Bearish BOS** (confirmation of downtrend). --- ### 🔹 2. CHOCH (Change of Character) * **Definition:** Indicates a trend reversal. * **Interpretation:** * In an uptrend, if the last low is broken downwards → **CHOCH↓** (start of downtrend). * In a downtrend, if the last high is broken upwards → **CHOCH↑** (start of uptrend). * **Chart:** Blue “CHOCH↑” labels on the chart mark trend reversals. --- ### 🔹 3. FVG (Fair Value Gap) * **Definition:** A price gap formed between 3 candles. * **Logic:** * If the low of one candle stays above the high of the candle two bars back, a gap is created. * Price tends to return to these gaps to “fill” them. * **Chart:** The indicator highlights these gaps automatically (green/purple lines). --- ### 🔹 4. Signal Generation (BUY / SELL) * A valid BOS or CHOCH confirmation + presence of FVG → **signal is triggered.** * **Rules:** * Upward break → **BUY signal** * Downward break → **SELL signal** * **Chart:** Red “SELL” and green “BUY” labels represent these trade signals. --- ### 🔹 5. RR – TP/SL Management * When a trade is opened, the indicator automatically calculates **Entry, Stop Loss (SL), and Take Profits (TP1, TP2, TP3).** * **Risk/Reward ratios:** * TP1 = 1R * TP2 = 2R * TP3 = 3R * If TP1 is hit and “Breakeven” option is enabled → SL moves to entry (risk-free trade). --- 👉 In short: this indicator tracks **market structure (BOS/CHOCH)**, detects **imbalances (FVG)**, and combines them with **risk/reward management (TP/SL)** to give you a ready-made trade
Pine Script® indicator
by aozek47
1
First X Days Of A YearFirst X-Day Indicator Overview The "First X-Day Indicator" is a powerful tool to visualize and analyze market sentiment during the crucial first trading days of each new year. It provides immediate visual feedback on whether the year is starting with positive or negative momentum compared to the previous year's close, a concept often related to market theories like the "January Effect" or the "First Five Days Rule." The indicator is designed to be clean, intuitive, and fully customizable to fit your charting style. Key Features Yearly Baseline: Automatically draws a horizontal line at the previous year's closing price. This line serves as a clear 0% reference for the current year's performance. Dynamic Background Coloring: For a user-defined number of days at the start of the year, the chart background is colored daily. Green indicates the close is above the previous year's close, while red indicates it's below. Final Performance Symbol: At the end of the analysis period (e.g., on the 5th day), a single summary symbol (like 👍 or 👎) appears. This symbol represents the final performance outcome of the initial trading period. Settings & Customization You have full control over all visual elements: Analysis Period: Define exactly how many days at the start of the year you want to analyze (e.g., 3, 5, or 10 days). Line Customization: Fully control the yearly baseline's appearance. You can change its color, width, and style (Solid, Dashed, or Dotted) or hide it completely. Symbol Customization: Choose any character or emoji for the positive and negative performance symbols. You can also adjust their size (Small, Normal, Large) or hide them. Background Control: Enable or disable the daily background coloring and select your preferred custom colors for positive and negative days.
Pine Script® indicator
by michid2
1
Previous session High/Low – Asia London USA Overview This indicator automatically plots the Previous Day’s (PD) session Highs and Lows for the Asia (Tokyo), London, and USA (New York) trading sessions. Each session is color-coded for clarity: 🟩 Asia (Green) 🟥 London (Red) 🟦 USA (Blue) At the close of each session, the indicator records that session’s high and low, draws horizontal lines across the chart, and labels them neatly in the center of each range — above the high and below the low for perfect visual balance. ⚙️ How It Works The script continuously tracks the current high and low within each session. When a session closes, those values are locked in as the PD High and PD Low. Clean lines and centered labels are drawn immediately. The labels automatically offset slightly above or below the line to avoid overlap, with user-controlled spacing. This helps traders quickly identify where price interacts with the previous session’s structure, a core concept for many session-based and liquidity-based strategies. 🧭 Sessions and Timezones Each market session runs in its native timezone, so you can align them perfectly to your chart or your preferred trading hours: Asia Session: Default 08:30 – 11:00 (Australia/Adelaide time) London Session: Default 08:00 – 10:00 (Europe/London) USA Session: Default 09:30 – 16:00 (America/New_York) You can change each session’s hours and timezone from the Inputs panel. 🎨 Customization In the Inputs menu you can: Toggle each session on or off Choose line color and thickness Enable or disable labels Adjust vertical offset (ticks) for label spacing “High label offset” – moves label further above the high line “Low label offset” – moves label further below the low line These adjustments make it easy to keep charts clean and readable on any instrument or timeframe. 📈 Practical Use This indicator is ideal for: Session traders who mark PD Highs/Lows as liquidity zones London or NY session scalpers who watch for breakouts, fakeouts, or reversals ICT / Smart Money Concepts users wanting automatic session reference levels Anyone wanting a quick visual map of inter-session structure
Pine Script® indicator
by crowboy9798
Aynet- True Wick Projector for Non-Standard ChartsTechnical Explanation: "Data Projection and Synchronization" This script is, at its core, a "data projection" tool. The fundamental technical problem it solves is compensating for the information loss that occurs when using different data visualization models. 1. The Core Problem: Information Loss Standard Charts (Time-Based): Normal candlesticks are time-based. Each candle represents a fixed time interval (like 1 hour or 1 day) and displays the complete Open, High, Low, and Close (OHLC) data for that period. The "wicks" show the volatility and the extreme price points (the High and Low). Non-Standard Charts (Price/Momentum-Based): Charts like Kagi, Renko, or Line Break filter out time. Their only concern is price movement. While one Renko box or Kagi line is forming, 10 or more time-based candles might have formed in the background. During this "noise filtering" process, the true high and low values (the wicks) from those underlying candles are lost. The problem is this: A trader looking at a non-standard chart cannot see how high or low the price actually went while that block or line was forming. This is a critical loss of information regarding market volatility, support/resistance levels, and price rejection. 2. The Technical Solution: A "Dual Data Stream" This script intelligently combines two different data streams to compensate for this information loss: Main Stream (Current Chart): The open and close data from your active Kagi, Renko, etc., chart. Secondary Stream (Projected Data): The high and low data from the underlying standard (time-based) chart. 3. The Code's Methodical Steps Step 1: Identifying the Data Source (syminfo...) This step precisely identifies the source for the secondary data stream. By using syminfo.prefix + ":" + syminfo.ticker (e.g., "NASDAQ:AAPL"), it guarantees that the data is pulled from the exact correct instrument and exchange. Step 2: Data Request & "Lookahead" Synchronization (request.security) This is the most critical part of the operation. request.security(...): This is the function Pine Script uses to pull data from another dataset (the secondary stream) onto the current chart. : This tells the function, "The only data I care about is the 'High' and 'Low' of the standard candle from that timeframe." lookahead = barmerge.lookahead_on (The Critical Key): This command solves the "time paradox." Normally (without this): request.security fetches data from the last completed bar. But as your Kagi bar is currently forming, the standard candle is also currently forming. This would cause the data to always be one bar behind (lag). With lookahead_on: This permits the script to "look ahead" at the data from the currently forming, incomplete standard bar. Because of this, as your Kagi bar moves, the true wick data is updated in real-time. This achieves real-time synchronization. Step 3: Visual Engineering (plotcandle) After the script retrieves the data, it must "draw" it. However, it only wants to draw the wicks, not the candle bodies. bodyTop and bodyBottom: First, it finds the top and bottom of the current Kagi bar's body (using math.max(open, close)). Plotting the Upper Wick (Green): It calls the plotcandle function and instructs it to draw a fake candle. It fixes this fake candle's Open, Low, and Close (open, low, close) values to the top of the Kagi bar's body (bodyTop). It only sets the High (high) value to the realHigh it fetched with request.security. The result: A wick is drawn from the bodyTop level up to the realHigh level, with no visible body. Plotting the Lower Wick (Red): It applies the reverse logic. It fixes the fake candle's Open, High, and Close values to the bottom of the Kagi bar's body (bodyBottom). It only sets the Low (low) value to the realLow. The result: A lower wick is drawn from bodyBottom down to realLow. Invisibility (color.new(color.white, 100)): In both plotcandle calls, the color (body color) and bordercolor are set to 100 transparency. This makes the "fake" candle bodies completely invisible, leaving only the colored wicks. Conclusion (Technical Summary) This script reclaims the volatility data (the wicks) that is naturally sacrificed by non-standard charts. It achieves this with technical precision by creating a secondary data stream using request.security and synchronizing it with zero lag using the lookahead_on parameter. Finally, it intelligently manipulates the plotcandle function (by creating invisible bodies) to project this lost data onto your Kagi/Renko chart as an "augmented reality" layer. This allows a trader to benefit from the clean, noise-filtered view of a non-standard chart without losing access to the full picture of market volatility.
Pine Script® indicator
by Aynet-London
Asia Session 2h (8PM–10PM EST, Today Only)This indicator automatically highlights the first 2 hours of the Asia trading session (8:00 PM – 10:00 PM EST) with a transparent teal box. It updates daily and only displays the current day’s session for a clean chart appearance. Features: Marks the Asia session open range (8–10 PM EST). Automatically adjusts each day. Works on any timeframe. No clutter — only shows today’s box. Ideal for traders who want to track Tokyo/Asia session volatility or identify key breakout zones before the London open.
Pine Script® indicator
by kportiz05