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Harmony or Divergence Single CandleThis script is designed for traders who seek to visually identify and analyze patterns of harmony and divergence in the price action of securities directly on their trading charts. The script provides a nuanced approach to understanding market sentiment and potential price movement directions by examining candle sizes and volumes over a specified lookback period. What the Script Does: The script overlays indicators on the price chart that highlight periods of harmony and divergence using background colors. These periods are determined based on comparisons between current candle sizes, candle volumes, and their respective simple moving averages (SMAs) over a user-defined lookback period. Harmony : A state where the candle size and volume are either both above or below their respective averages, indicating a consensus or agreement in market direction. Divergence : A state where there's a mismatch, such as a larger candle size with lower volume or vice versa, suggesting uncertainty or potential reversal in market trends. How It Does It: User Inputs : Traders can customize several parameters, including the lookback period for averages, whether to include wicks in candle size calculations, and preferences for displaying harmony and divergence indicators with specific colors. Calculations : - The script calculates the simple moving average (SMA) of volume and candle sizes (with an option to consider the full candle range including wicks or just the body) over the specified lookback period. - It then compares the current candle's size and volume against these averages to identify states of harmony or divergence. Visualization : - Based on the user's input, it colors the background of the chart to reflect identified patterns. Each state (harmony above or below average, divergence with higher volume or larger candle body) can be highlighted with different colors, providing immediate visual cues to the trader. What Traders Can Do With the Script: Traders can utilize this script to enhance their technical analysis by: Identifying Trend Consistency : Harmony indicators can signal strong trends where price action and volume confirm each other, possibly supporting continuation strategies. Spotting Potential Reversals : Divergence indicators may highlight potential exhaustion points or reversals, especially when price moves significantly without corresponding volume support. Customizing Analysis : By adjusting the lookback period, candle size consideration (body or including wicks), and visualization options, traders can tailor the analysis to fit their trading style and strategy.
Pine Script® indicator
by GreatestUsername
1
Dollar Volume Last 20 CandlesThe "Dollar Volume Last 20 Candles" indicator, abbreviated as "DV", is a practical and insightful tool for traders and analysts. This indicator focuses on enhancing the visualization of trading data by calculating and displaying the dollar volume for each of the last 20 bars on a financial chart. It achieves this by multiplying the closing price of each bar with its trading volume, providing a clear dollar value of the trading activity. The script also features an intuitive formatting system that simplifies large numbers into 'k' (thousands) and 'M' (millions), making the data easily digestible. The dollar volume data is displayed directly above each bar, adjusted for visibility using the Average True Range (ATR), ensuring that it is both unobtrusive and readily accessible. This overlay feature integrates seamlessly with the existing chart, offering traders a quick and efficient way to assess monetary trading volume at a glance, which is particularly useful for identifying trends and market strength.
Pine Script® indicator
by tenet6080
1
Inside Candle and mother candle range with alert++>>This script allows you the inside bar candle and the cnadle is shown in white. The range of the mother candle is identified and tracked until it breaks. Once the first range is over ridden then the next similar pattern will be occured and the tracking will be done for the mother candle latest occurrence. It also has the alert mechanism where you can go and the alert for the indicator in Alerts. 5 min is the most preferrable time frame and while saving the alert Note to save the time frame of the chart. For which ever time frame is saved the Alert will be triggered for the same . And when th inside bar is triggered it throws an alert condition. this alert condition has to be configured in your alerts and will be buzzing on the screen. Oct 20 Release Notes: updated with Mother candle top and bottom lines of previous occurrences and tracks the current latest Inside bar mother candle Release Notes: this script allows you the inside bar cnadle and the cnadle is shown in white. highlighter is configurable and line colors as well.
Pine Script® indicator
by RaviPolavarapu
19
Heikin-Ashi Candle ColorOne of the biggest complaints about Heikin Ashi is the lack of real price data you receive. This attempts to give you as much information as possible by displaying both the candle color and the Heikin Ashi color. The wick takes on the original color while the body of the candle gets the Heikin Ashi color. The only downside to this method is that you do not get to see candle patterns. As always I hope you enjoy this release!
Pine Script® indicator
by The_Peaceful_Lizard
3
MJ Important Candlestick Patterns + Smart TrendThis script detects 6 important candlestick patterns defined by the author and puts chart labels on your chart for your attention. It also includes a smart trend checking algorithm to detect trends. The six candlestick patterns covered are: Bullish Engulfing Bearish Engulfing Piercing Line Dark Cloud Cover Bullish Harami Bearish Harami *** Smart feature of this indicator is that it can detect uptrends or downtrends before alerting you regarding the bullish or bearish reversal candlestick pattern. This is achieved by comparing the typical price (high+low+close divided by 3) of today's candle versus three days ago.
Pine Script® indicator
by TheInvestingCloud
1
Aggregate BTC CandlesThis script creates candles based on an aggregated Index price from various BTC exchange tickers. Since the early years in particular have a lot of exchange specific flash crash wicks, missing data, erraticness compared to other exchanges particularly in their first few months, this is an attempt to clean up the price history, be it for TA (trendlines, S/R etc.) or use in algos or other indicators, without reliance on one exchange. It uses the new Array functionality to generate median and averages, and is entirely original work.
Pine Script® indicator
by rthomson
7
ANN Next Coming Candlestick Forecast SPX 1D v1.0WARNING: Experimental and incomplete. Script is open to development and will be developed. This is just version 1.0 STRUCTURE This script is trained according to the open, close, high and low values ​​of the bars. It is tried to predict the future values ​​of opening, closing, high and low values. A few simple codes were used to correlate expectation with current values. (You can see between line 129 - 159 ) Therefore, they are all individually trained. You can see in functions. The average training error of each variable is less than 0.011. NOTE : This script is designed for experimental use on S & P 500 and connected instruments only on 1-day bars. The Plotcandle function is inspired by the following script of alexgrover : Since we estimate the next values, our error rates should be much lower for all candlestick values. This is just first version to show logic. I will continue to look for other variables to reach average error = 0.001 - 0.005 for each candlestick status. Feel free to use and improve , this is open-source. Best regards.
Pine Script® indicator
by Noldo
5