SpiceIn the chart photo is a description for each shape and letter, saying what each one is.
BB, Reversals are off by default.
BB + Reversals + Next bar confirmation - The way this should be used is by waiting for a 1 or 2 bar confirmation closed above/below the high/low of the Reversal candle. So if its a Top R, a yellow box will print as a confirmed 1 bar if it closed below the top R's low, then you can wait for the second bar to close also below the Top R's low. Vice versa with the Bot R.
RSI arrows - Essentially showing you when the multi time frame RSIs are coming back up above 30, or below 70. Respective to what time frames you have selected.
Three Line Strike - A trend continuation candlestick pattern consisting of four candles
Leledc Exhaustion suggest the trend may be reversing. Combined with the moving average as a trend filter, the indicator can signal the end of a pull back and the continuation of the trend.
EMAs - Help measuring the trend direction over a period of time.
Credit to all these amazing creators -
Multi Timeframe RSI (LTF) by @millerrh
3 Line Strike by @Lij_MC 'MarketVision A'
Leledc Exhaustion by @glaz, used updated version by @Joy_Bangla
If anyone uses the BB reversals source code to put into their own indicator/strategy, you are free to do so. Just send me a message I'd love to see your work with it! :)
Thanks to Lij_MC's MarketVision A indicator for inspiring me to add more features. At first it was just the RSI Arrows and the BB reversals candles + Condition but then I found MarketVision A and loved the extra Leledc and 3 Line Strike features.
Hope you enjoy this Spice!
No Signal is 100% correct at what it's trying to do. Use caution when trading!
Practice Risk Management.
Search in scripts for "Candlestick"
S/R and Reversal BarsToday I'm proposing an idea to form S/R with a slightly different basic idea. This is a combination of CCI and candlestick study, and we will use this to mark possible reversal candles and possible S/R lines.
This is nothing complicated, I've used a basic CCI indicator with certain rules/system to mark S/R levels on the chart. (Have loaded traditional CCI indicator on bottom for comparison)
S/R levels are market as followed
Cross -
Lime = Support
Red = Resistance
Zero/Balance line - Yellow circles
The idea is to use this indicator to trade sideways market more successfully, in trending market this can be futile if you are not waiting for the break-out or breakdowns with confirmation.
Since this is based on CCI, it will give static result only when bar is closed, till then it will be susceptible for repaint. This is inherited nature from CCI readings on current bar. I could change this to only making reading on closed bar (historical bar), but that takes away from the uniqueness of this indicator in giving early indications.
This is a great tool for intraday scalping, but it does work on all timeframes, it's not bound by granularity.
This is for education purpose only.
Past success or seemingly positive results on published posts are not indication of future success.
Session CandlesThis indicator is designed to visually represent different trading sessions on a price chart, highlighting candlestick colors to distinguish between bullish (upward movement) and bearish (downward movement) trends during various market sessions. Here's an overview of how the indicator works:
1. Session Definition: The indicator defines four distinct trading sessions:
- London Session: Typically covering the European trading hours.
- New York AM Session: Representing the morning hours of the New York trading session.
- New York PM Session: Representing the afternoon hours of the New York trading session.
- Asia Session: Encompassing the trading hours of the Asian markets.
2. Configuration Options: Users can customize the behavior of the indicator through input options. For each session, users can enable or disable the display of session-specific candles.
3. Candle Coloring: The indicator determines the color of candles based on the following criteria:
- For each session, it checks whether the current candle's closing price is higher than its opening price.
- If the closing price is higher, the candle is considered bullish, and a user-defined green color is used for the candle.
- If the closing price is lower, the candle is considered bearish, and a user-defined red color is applied.
4. Display: The indicator then applies the calculated candle colors to the respective candles of each trading session on the price chart. This visual distinction helps traders quickly identify the prevailing trend during different market sessions.
To use the indicator, traders can overlay it on their price charts in TradingView. By enabling or disabling specific trading sessions, they can focus on the trends and price movements during those specific time periods.
Please note that the actual appearance of the indicator on the chart depends on the user's chosen settings for session enablement and color preferences.
Reversal Candles UG [5ema]The indicator can be find 8 reversal candlestick patterns of bullish or bearish.
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How to build?
Based on available reversal patterns that was be share by a group trader.
With name: T1, T1S, T2, T2S, T3, T3S, T3 Pro, T3 Max.
Ex1 - T1 Bull Candles and T3 Bull Candles:
Ex2 - T2 Bull Candles:
Ex2 - T1S Bull Candles:
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How to use?
Combine with other indicators like MA, EMA, RSI, Support, Resistance,... to set up a trading strategy.
Make a Alert to get a notification when a reversal candles appear.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Hide Active Candle [SteinG]Hide Active Candle
An essential tool for disciplined traders seeking to avoid making hasty decisions based on active bars that have not yet closed.
Have you ever found yourself eagerly anticipating an entry, only to be tempted by an active candle that starts to pull away? Or perhaps you've been caught in a trade where an active candle pushes against you, stirring unease and uncertainty. Fear not, for we have a solution!
"Hide Active Candle" is a simple Pine Script indicator designed to ghost the active bar on your chart, reinforcing the importance of patiently waiting for its closure before making any trading decisions. By masking the active candle, this indicator serves as a constant reminder to exercise caution and to base your actions on solid, confirmed information.
To make the most of this powerful tool, ensure that you are using a candlestick chart, as this script operates optimally within that framework. Follow these simple steps to get started:
1. Right-click on your chart and select "Settings..."
2. From the drop-down menu, choose "Symbol" under the "Chart Settings" section.
3. Disable every item in the list to fully utilize the capabilities of "Hide Active Candle."
But wait, there's more! We understand that each trader has unique preferences and requirements. That's why we've included customizable settings within the script to tailor it to your specific needs. You have the option to adjust the following parameters:
- Countdown seconds left : Specify the number of seconds before the bar closes when the current candle becomes visible.
- Bull candle color : Select the color that represents bullish candles on your chart.
- Bear candle color : Choose the color that indicates bearish candles.
- Equal candle color : Define the color for Doji star candles.
- Theme : Opt for a dark or light theme, as the active candle mask will be based on your chosen theme.
- Custom hidden color : Personalize the mask color according to your preferences.
By fine-tuning these settings, you can create a trading environment that perfectly suits your style and enhances your decision-making process.
Thange Momentum KicksTitle: Thange Momentum Kicks Indicator - Identify Strong Bullish and Bearish Candles
Description:
The Thange Momentum Kicks indicator is a small tool designed to identify strong bullish and bearish candles in a candlestick price chart. By analyzing the momentum and size of each candle, this indicator highlights potential significant price movements.
The indicator marks strong bullish candles with a "Bull Kick" label to signal their strength on price action. Similarly, strong bearish candles are identified with the "Bear Kick" label. These kicks are characterized by their size and momentum, indicating a high probability of significant price movement.
The indicator allows traders and investors to easily spot these kicks on their charts, helping them make quick decisions. It calculates the percentage momentum of each candle and compares it to the specified thresholds for bullish and bearish kicks.
Key Features:
- Identifies strong bullish and bearish candles ("Kicks") based on momentum and size.
- Customizable input parameters for setting the percentage thresholds for kicks.
- Labels and tooltips provide essential information such as momentum, percentage change, open, and close prices.
- Differentiates between bullish kicks with blue color and bearish kicks with a unique pink color.
- Plots the candles with the specified colors for easy visualization.
Instructions:
1. Look for the "Kicks" labeled candles on your chart.
2. Bullish kicks indicate strong upward momentum, while bearish kicks represent strong downward momentum.
3. Consider the size and momentum of the kicks when making trading decisions.
4. Combine the Thange Momentum Kicks indicator with other technical analysis tools for a comprehensive market analysis.
Note: The Thange Momentum Kicks indicator is most effective when used in conjunction with other indicators, chart patterns, and risk management strategies to confirm signals and optimize trade entries and exits.
Disclaimer: This indicator should be used as a tool for technical analysis and does not guarantee specific trading outcomes. Users should exercise their own discretion and risk management when making trading decisions based on this indicator.
I hope my Thange Momentum Kicks indicator enhances your trading experience and helps you identify strong bullish and bearish candles with ease. Happy trading!
Magic VIBIntroducing the "Magic Vib Indicator" – a powerful tool designed to identify and highlight unique market scenarios known as "magic volume imbalances." This indicator is specifically crafted to recognize specific candlestick patterns that have demonstrated a significant impact on price movements.
The Magic Vib Indicator is meticulously engineered to detect a particular pattern, which occurs when the high of the first candle aligns perfectly with the open of the subsequent candle, while simultaneously witnessing the close of the first candle matching the low of the second candle. These precise conditions generate what is commonly referred to as a "magic vib."
This indicator has been developed with the sole purpose of capturing these magical moments in the market. By systematically scanning and analyzing price data, it spots instances where these extraordinary price imbalances occur. Once identified, the indicator promptly marks these candles on your trading platform, providing clear visual cues for enhanced decision-making.
The Magic Vib Indicator acts as a catalyst for traders and investors, as it has proven to be a reliable precursor to significant price reactions. These marked candles act as potent signals, suggesting an impending shift in market sentiment and a high probability of substantial price movement. The resulting price action often sees significant volatility, making it an enticing opportunity for those seeking substantial gains.
However, it's important to note that while the Magic Vib Indicator offers valuable guidance, it should not be the sole basis for trading decisions. It is crucial to incorporate other technical and fundamental analysis tools, risk management strategies, and market awareness to achieve consistent success.
In summary, the Magic Vib Indicator represents a breakthrough in technical analysis, specifically tailored to identify and mark candles exhibiting the remarkable characteristics of a "magic volume imbalance." By harnessing the power of this indicator, traders can anticipate substantial price reactions, allowing them to seize opportunities and maximize their trading outcomes.
ReversalThe primary objective of this indicator is to discern candles that exhibit characteristics suggestive of potential market reversals through the application of candlestick analysis. Extensive observation across various assets and timeframes has revealed the existence of a recurrent reversal pattern. This pattern typically manifests as a sequence of one to three candles that abruptly diverge from the prevailing price action or trend, offering a distinctive signal indicating a potential reversal.
By leveraging the insights gained from this observation, the indicator aims to assist traders in identifying these noteworthy candle patterns that hold the potential to indicate significant market shifts.
The indicator operates as follows: initially, it identifies the lowest close (in the case of a bullish reversal) or the highest close (in the case of a bearish reversal) within a specified number of previous candles, as determined by user input (referred to as "Candle Lookback").
Next, the indicator examines whether the closing price surpasses the high of the previously identified lowest (bullish reversal) or highest (bearish reversal) closed candle within a designated number of candles, as specified by the user (referred to as "Confirm Within").
Bull & Bear Engulfing - 3 Strike and 180 CandlesHello, SenatorVonShaft here.
This indicator shows 3 differend candlestick formations:
1- Bullish & Bearish Engulfing Candle
2- Bullish & Bearish 3 Strike Candle
3- Bullish & Bearish 180 Degree Candle
It has 3 variables
1- Bar Fullness - Differs from %50 - %100 showing 1 candle's fullness
2- Avg. Backwds Candls - Gets the average weight of the backward candles
3- Avg. Bar Height Multiplier - This variable is multiplied by above value to determine engulfing candles.
Plots:
- Green & Red Arrows Only : Shows Bullish & Bearish engulfing candles
- Green & Red 180 : Shows a bullish or bearish engulfing candle taken over by a bigger opposite candle
- Green & Red 3S : Shows bullish & bearish 3 strike candle formation
Please feel free to comment your thoughts below.
See you.
Inside candle (Inside Bar) Strategy- by smartanuThe Inside Candle strategy is a popular price action trading strategy that can be used to trade in a variety of markets. Here's how you can trade the Inside Candle strategy using the Pine script code provided:
1. Identify an Inside Candle: Look for a candlestick pattern where the current candle is completely engulfed within the previous candle's high and low. This is known as an Inside Candle.
2. Enter a Long Position: If an Inside Candle is identified, enter a long position at the open of the next candle using the Pine script code provided.
3. Set Stop Loss and Take Profit: Set a stop loss at a reasonable level to limit your potential losses if the trade goes against you. Set a take profit at a reasonable level to take profit when the price reaches the desired level.
4. Manage the Trade: Monitor the trade closely and adjust the stop loss and take profit levels if necessary. You can use the Pine script code to automatically exit the trade when the stop loss or take profit level is hit.
5. Exit the Trade: Exit the trade when the price reaches the take profit level or the stop loss level is hit.
It's important to note that the Inside Candle strategy is just one of many strategies that traders use to trade the markets. It's important to perform your own analysis and use additional indicators before making any trades. Additionally, it's important to practice proper risk management techniques and never risk more than you can afford to lose.
Bar composition in 1minute | True candlestick colorThe indicator shows the true color of a bar based on the internal composition on 1 minute timeframe and the final outcome. It uses following parameters of 1minute and current timeframe inputs
relative bar close, average volume vs current volume and finally the volume of internal candles.
It follows following steps:
First, it defines the arrays of high, low, close, volume in one minute timeframe
Second, it identifies the negative and positive volume based on the bar closing at one minute timeframe
Third , it adds all the volume and find whether the overall volume is positive or negative for overall bar in higher timeframe (current timeframe)
Fourth, it compare the volume in current timeframe to average of volume in in current timeframe
Fifth, if relative closing, relative volume (current timeframe) and the combined volume (in 1 minute timeframe) gives same outcome then color of the bar is decided whether the bar is bullish, bearish or inconclusive/contnuation.
Through this you get to check price action in 1minute timeframe and the ultimate outcome in current timeframe. this helps in understanding whether the bar is truly bullish or bearish or continuation of the trend
Feel free to connect for any query.
Candles - 2 or 3 consecutive pattern + Custom pips thresholdFEATURES:
- Detect a 2 or 3 consecutive candlestick pattern. Input the value into the first input value.
- Choose the minimum and the maximum amount of pips of the candle that you want to detect. The indicator will detect candles within that pips range and highlight the consecutive pattern
- Choose to not use the pips threshold. If disabled the indicator will constantly check for consecutive candles pattern.
- Choose if calculate pips taking into consideration OC (Open - Close of candles - Body) or HL (High - Low - Body + Wick)
VISUALS:
- Enable Boxes: when enabled a box is drawn around the pattern detected
- Enable Lines: when enabled lines from top/bottom/mid of the boxes are drawn
- Extend the lines
BuP = Bullish Pattern
BeP = Bearish Pattern
AIM:
The aim of the indicator was to spot 2 common patterns in one indicator: Three White Soldiers and Three Black Crows
The rest is all implementation because I like coding.
Anyway on all timeframes 3 consecutive candles with a similar body length seems to be an alarm that Market Makers are joining the gfame before a major manipulation so it worth keep an eye on those.
From my experimentation from ltf 1 minute timeframe to htf 1H timeframe, 3 consecutive candles with a body length between 10 and 20 pips could be the ones to keep an eye on before a reversal or a strong continuation.
For sure they are zonez and levels where MM would come back later.
Adjust the settings as you want and happy trading!
This is just an indicator nothing more
Short Only Anytime ScalperThis indicator works best in a 2-minute timeframe.
I designed this indicator to work with my proprietary scalping strategy where I use candlestick anatomy, price action, and moving averages to determine potential short entries.
Rules I use for using this indicator:
- I turn the 20MA green
- I turn the 200MA red
- I only take a short entry on the FIRST yellow or red candle painted once the 20MA comes back down crossing the 200MA once the candle fully closes red or yellow from the indicator
- The gap between the 20MA and the 200MA MUST be close (the closer the gap is the stronger the short entry can be). Note: It can be considered a false signal if the bar is colored yellow or red when the gap is far within the 20MA and the 200MA.
- My stop loss is the red line right on the top of the True Bear Bar (red) or Partial True bear bar (yellow)
- My take profit is always at 0.04% (green dots) and then I watch price action, when price action moves under my 0.04% I quickly move to stop loss to that level locking in profit while allowing profit to ride. (This indicator is meant to use in quick price action and I am usually in and out of a trade in 5 minutes or even sooner)
How to read the indicator
- Yellow painted bar at candle close: Partial True Bear Bar
- Red painted bar at candle close: True Bear Bar
- Red line painted on top of candle: Stop loss
- Green dot with green label and price: Goal profit area no matter what
You will notice that sometimes depending on the size of the bear bar, the R:R is very off compared to traditional trading, this is because this is a very quick scalping strategy that either locks in 0.04% no leverage gain or quickly puts stop loss at that level to then let profits ride.
Double Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed double candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
Double Candle Trends
• A double uptrend candle trend is formed when a candle closes with both a higher high and a higher low.
• A double downtrend candle trend is formed when a candle closes with both a lower high and a lower low.
Multi-Part Double Candle Trends
• A multi-part double uptrend candle trend begins with the formation of a new double uptrend candle trend and continues until a new lower high or lower low ends the trend.
• A multi-part double downtrend candle trend begins with the formation of a new double downtrend candle trend and continues until a new higher high or higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
• Show Plots
Table
The table is colour coded, consists of seven columns and, as many as, thirty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding double uptrend candle trend scenarios and red cells denote the corresponding double downtrend candle trend scenarios.
The multi-part double candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the double candle trend scenarios as percentages of total 1-part double candle trends. And columns four and seven display the total double candle trend scenarios as percentages of the last, or preceding double candle trend part. For example 4-part double uptrend candle trends as percentages of 3-part double uptrend candle trends.
Plots
I have added plots as a visual aid to the double candle trend scenarios. Green up-arrows, with the number of the trend part, denote double uptrend candle trends. Red down-arrows, with the number of the trend part, denote double downtrend candle trends.
█ HOW TO USE
This indicator is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current double candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
CPR with inside candle, Pivot Points and 4EMA The CPR trading strategy is a technical analysis approach that combines multiple indicators to determine potential price levels and trading opportunities. The strategy uses three main components: Inside Candles, Pivot Points, and the 4EMA.
Inside Candles: The Inside Candle pattern is a candlestick pattern where the current candle has a lower high and a higher low than the previous candle. This pattern can indicate a period of consolidation or indecision in the market and can signal a potential reversal or continuation of the trend.
Pivot Points: Pivot Points are technical indicators that use the previous day's price data to calculate key levels of support and resistance for the current trading day. These levels can act as potential areas of buying or selling pressure and can help traders identify potential entry and exit points.
4EMA: The 4EMA is a short-term Exponential Moving Average that tracks the average price of an asset over the previous four periods. This indicator is used to help identify short-term trends in the market and can signal potential buying or selling opportunities.
To apply the CPR strategy, traders first look for Inside Candles on their chart, indicating a period of consolidation or indecision in the market. Next, they identify the Pivot Points for the current trading day, which can act as potential areas of support or resistance. Finally, traders use the 4EMA to confirm the direction of the trend and potential entry or exit points.
For example, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating an uptrend, this could be a potential buying opportunity. Conversely, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating a downtrend, this could be a potential selling opportunity.
Upper and Lower Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed upper and lower candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
Table
The table is colour coded, consists of seven columns and, as many as, sixty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding upper candle trend scenarios and red cells denote the corresponding lower candle trend scenarios.
The multi-part candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the candle trend scenarios as percentages of total 1-part candle trends. And columns four and seven display the total candle trend scenarios as percentages of the last, or preceding candle trend part. For example 4-part higher high trends as a percentages of 3-part higher high trends. This offers more insight into what might happen next at any given point in time.
Plots
For a visual aid to this indicator please use in conjunction with my Upper Candle Trends and Lower Candle Trends indicators which can both be found on my profile page under scripts, or in community scripts under the same names.
Green up-arrows, with the number of the trend part, denote higher high trends when above bar and higher low trends when below bar. Red down-arrows, with the number of the trend part, denote lower high trends when above bar and lower low trends when below bar.
█ HOW TO USE
This is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current upper or lower candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Muti-Part Green and Red Candle Trends
• A multi-part green candle trend begins upon the completion of a swing low and continues until a red candle completes the swing high, with each green candle counted as a part of the trend.
• A multi-part red candle trend begins upon the completion of a swing high and continues until a green candle completes the swing low, with each red candle counted as a part of the trend.
█ FEATURES
Inputs
Start Date
End Date
Position
Text Size
Show Sample Period
Show Plots
Table
The table is colour coded, consists of seven columns and, as many as, thirty-one rows. Blue cells denote the multi-part candle trend scenarios, green cells denote the corresponding green candle trend scenarios and red cells denote the corresponding red candle trend scenarios.
The candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second column. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third column displays the total candle trend scenarios as percentages of total 1-candle trends, or complete swing highs and swing lows. And column four displays the total candle trend scenarios as percentages of the, last, or preceding candle trend part. For example 4-candle trends as a percentage of 3-candle trends. This offers more insight into what might happen next at any given point in time.
Plots
I have added plots as a visual aid to the various candle trend scenarios listed in the table. Green up-arrows, with the number of the trend part, denote green candle trends. Red down-arrows, with the number of the trend part, denote red candle trends.
█ HOW TO USE
This indicator is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the next candle will close higher or lower than it opened, based on the current scenario and what has happened in the past under similar circumstances. Such information can be very useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Sniper EntryThis source code is an implementation of a TradingView indicator called "Sniper Entry". The purpose of this indicator is to identify potential entry points for trades based on certain candlestick patterns and the Stochastic oscillator.
The indicator calculates the Stochastic oscillator based on the close, high, and low prices of the asset over a period of 14 bars. It then uses this oscillator to generate buy and sell signals.
For a buy signal to be generated, the Stochastic oscillator must cross above the oversold level of 20, and the current candle must either be a bullish pin bar or a bullish engulfing pattern. For a sell signal to be generated, the Stochastic oscillator must cross below the overbought level of 80, and the current candle must either be a bearish pin bar or a bearish engulfing pattern.
The indicator also calculates the stop loss and target levels for both buy and sell trades. The stop loss is calculated based on the low or high of the candle that generated the signal, depending on whether it's a buy or sell signal. The target is calculated based on the risk/reward ratio, which is set to 3 in this implementation. The lot size is also set to 0.01, and the starting capital is set to 100.
The indicator then plots the buy and sell signals, the stop loss and target levels, and the Stochastic oscillator on the chart.
It's important to note that this is just one example of a trading indicator, and its effectiveness may vary depending on market conditions and the asset being traded. It's also important to perform your own analysis and use proper risk management techniques when making trades based on any indicator or strategy.
Engulfing Pinbar [serkany88]This is an experimental candlestick pattern that combines pinbars and engulfing patterns as my own implementation. These signals can be used as a possible reversal points based on timeframe used or set wick size. Of course these signals should never be used on their own but rather can be used as another confluence of possible entry signal.
Functional and Manual alerts provided with simple and clean code.
TLDR: Use as a possible reversal point for your entries in combination with your trend and volatility filters. Green means possible bullish move, Red means possible bearish move.
Volume Trend AnalysisThe VTA indicator is a trend analysis indicator based on trading volume and candlestick charts, used to determine the states of bullish strength, bearish strength, and market balance. When the bullish volume gradually increases while the bearish volume gradually decreases or remains steady, the market is in a state of bullish strength; when the bearish volume gradually increases while the bullish volume gradually decreases or remains steady, the market is in a state of bearish strength; when both the bullish and bearish volumes remain steady, the market is in a state of market balance.
The VTA indicator can help traders better determine market trends, select appropriate entry and exit points.
HTF Tool 2HTF Tool 2: Because the previous version was removed for being too powerful.
HTF Tool allows Users to display Higher Timeframe(HTF) Candles on their Chart with retracement lines drawn from the (High/Low) range of the HTF candle, as well as a live HTF MA.
This indicator perfectly handles Requested data to display a non-lagging HTF Moving Average(MA) by bridging a solid historical data stream with the live data stream.
This is done by offsetting plot data backwards to the middle of the last HTF candle, and then drawing a line from the last candle middle, to the live candle middle.
I have manipulated the data display to give the appearance that it consists of only 1 plot line, Whereas in reality, The HTF MA consists of 3 different processes:
- 1 historical plot value, to display the (correct) historical EMA with the same plot points you would see on the HTF chart from the same ema.
- 1 live line, re-drawn at every tick to mimic the way plot values move around while the bar is live.
- 1 live plot value, that is only displayed as a number on the status line and price scale to make it look like these are the outputs from the constantly redrawing line.
Because of this, This indicator displays the exact same way you would see this data on the requested timeframe's chart .
Note: You will see 2 values on the status line, these are the Historic MA, and Live MA values (Left, Right).
When hovering over historic values, a Historic MA value will only display in the middle of the HTF bars (same bar as the HTF wick)
This indicator include:
- HTF Candles, Drawn in the Traditional Candlestick Fashion.
- A User Adjustable HTF EMA / SMA , This Moving Average is accurate the the display you would see on a HTF chart.
- User Adjustable Retracement lines, up to 3 levels. These levels dynamically delete when price crosses them.
- Adjustable Display Range to display more or less HTF candles.
- Toggleable "Safe Mode" to keep the indicator display looking clean at all times.*
All Colors are Customizable to fit your layout style (Candle, Levels, HTF MA)
*Safe mode checks that your current chart's timeframe cleanly multiplies into your requested timeframe an odd number of times. This keeps the HTF candle wicks perfectly centered, and keeps the candle body width perfectly consistent.
If you choose to turn safe mode off here are some things to consider:
All Vertical data is consistent with the HTF requested , ONLY the horizontal alignment of the indicator will be thrown off.
When on low timeframes requesting other relatively low timeframes these issues are extremely more apparent than when requesting substantially larger timeframes.
Example: Safe Mode will likely need to be turned off for any 4h chart request, but as seen in the following image, the bars still look very normal.
Note: If you ONLY want to see the Levels and Moving Average... You ARE capable of requesting the current chart's timeframe. If you do this, the indicator will stop drawing the HTF candles, since your chart already shows that timeframe's candles.
Enjoy!
Electrocardiogram ChartThis is an attempt to develop alternative visualisation of financial charts. This script also makes use of new pine feature types which represents User Defined Object Types. You can refer to below documentation to understand more about this feature:
www.tradingview.com
www.tradingview.com
🎲 Structure of new chart components
🎯Instead of candles/bars, this type of chart contains Electrocardiogram blocks which resembles the heartbeat signals on electrocardiogram.
Body color of the block is defined by the open and close prices of the bar. If close is greater than open, body is green. Otherwise, the body is painted red.
Border color of the block is defined by the close prices of current and previous bar. If the close of current bar is greater than that of last bar, then the border color is green. Otherwise, border color is painted red.
🎯Inside each blocks there will be 5 connecting lines called the signal lines.
open-open
open-firstPeak(high or low of the bar whichever comes first)
firstPeak-secondPeak(high or low of the bar whichever comes last)
secondPeak-close
close-close
🎯 Color of the signal lines are determined by which among the high/low of the bar comes last. If highest part of the bar reached after reaching the lowest part of the bar, then signal lines are coloured green signifying bullish sentiment towards the end of bar. If lowest part of the bar reached after reaching the highest part of the bar, then signal lines are coloured red signifying bearish sentiment towards the end of bar.
Pictorial examples here:
🎲 Limitations with pinescript implementation
Since, pinescript can only use maximum 500 lines and each block will take 1 box and 5 lines, it is not possible to display more than 100 bars.
Each block of new Electrocardiogram chart will take the space of 7 bars of candlestick chart. Due to this, the alignment of regular OHLC candles is not inline with the new chart type. Background highlighting is done for the part of the OHLC candles where Electrocardiogram blocks are plotted so that it helps users to map the bars manually
Thanks to @theheirophant for suggestion of name :)
[blackcat] L1 Beauty ShoulderLevel 1
Background
A classic candle pattern : beauty shoulder.
Function
Beauty shoulder, as the name suggests, is that the trend of the candle chart is like a beauty shoulder. The most important feature of the beauty shoulder pattern is that after it reaches the shoulder, it does not wash the market through the downward trend of the stock price, but only by slowing down the rising speed to achieve washing out float chips.Therefore, the shape of the beauty shoulder is not rising from beginning to end, but the acceleration of the rise has changed.
Morphological characteristics:
1. Beauty shoulder is a candlestick pattern. It is usually the trace left by the main force opening up positions. This pattern is encountered by dozens every year, and you will always find it if you look for it carefully.
2. The technical characteristics of the beauty shoulder, the 5-day moving average and the 10-day moving average must continue to form a golden fork.
3. The trend in the first half of the candle chart must present an arch, and only in this way can it be called a beauty shoulder.
4. The candle chart must be above the 60-day moving average. It is best to hang it in the air, or a stronger shoulder of the beauty. The candle chart is above the 30-day moving average, so the magnitude of the pull up will become larger.
5. The bottom of the shoulder of the beauty is the part of the consolidation, and the volume must be increased, because the shoulder of the beauty is the result of the main force building a strong position in a short time, so the volume must be increased.
6. The rise of the shoulders of the beauty is very scary, and the increase is usually more than 30%.
Remarks
Feedbacks are appreciated.
