TREV Candles - Range-Based Trend Reversal

TREV charts eliminate time-based noise and focus purely on significant price movements, making them ideal for identifying genuine trend changes and continuation patterns.

1. Trend Size: The number of ticks price must move in the current direction to form a trend continuation candle
   
2. Reversal Size: The number of ticks price must move against the current direction to form a reversal candle and change the overall trend direction
   

• Direction Changes Only Through Reversals: You cannot go from bullish trend directly to bearish trend - a reversal candle must occur first
  
• Threshold-Based Formation: Candles form only when price thresholds are breached, not on time
  
• Logical Wick Placement: Wicks only appear on the "open" side of candles where price temporarily moved against the formation direction
  
• Multiple Candles Per Bar: When price moves significantly, several TREV candles can form within a single time-based bar
  

1. Bullish Trend (Green): Continues upward movement when trend threshold is hit
   
2. Bearish Trend (Red): Continues downward movement when trend threshold is hit
   
3. Bullish Reversal (Blue): Changes from bearish to bullish direction when reversal threshold is breached
   
4. Bearish Reversal (Orange): Changes from bullish to bearish direction when reversal threshold is breached
   

• Trend Identification: Clear visual representation of when trends are continuing vs. reversing
  
• Noise Reduction: Filters out insignificant price movements that don't meet threshold requirements
  
• Support/Resistance: TREV levels often act as significant support and resistance zones
  
• Breakout Confirmation: When price forms multiple trend candles in succession, it confirms strong directional movement
  
• Reversal Signals: Reversal candles provide early warning of potential trend changes
  

• Intelligent Price Path Processing: Analyzes the assumed price path within each bar (Low→High→Close for bullish bars, High→Low→Close for bearish bars)
  
• Automatic Tick Size Detection: Works with any instrument by automatically detecting the correct tick size
  
• Manual Override Option: Allows manual tick size specification for custom analysis
  
• Impossible Scenario Prevention: Built-in logic prevents impossible wick configurations and direction changes
  
• PineScript Optimization: Efficient state management and drawing limits handling for smooth performance
  

• Body Colors: Independent color settings for each candle type's body
  
• Border Colors: Separate border color customization
  
• Border Styles: Choose from solid, dashed, or dotted borders
  
• Wick Colors: Individual wick color settings for each candle type
  

• 🟢 Bullish Trend: Green body and wicks
  
• 🔵 Bullish Reversal: Blue body and wicks
  
• 🔴 Bearish Trend: Red body and wicks
  
• 🟠 Bearish Reversal: Orange body and wicks
  

• Trend Size: Larger values create fewer, more significant trend candles. Smaller values increase sensitivity
  
• Reversal Size: Should typically be smaller than trend size. Controls how easily the trend direction can change
  
• Tick Size: Use "auto" for most instruments. Manual override useful for custom point values or backtesting
  

• Swing Trading: Identify major trend changes and continuation patterns
  
• Scalping: Use smaller thresholds to catch quick reversals and momentum shifts
  
• Position Trading: Use larger thresholds to filter noise and focus on major trend moves
  
• Multi-Timeframe Analysis: Compare TREV patterns across different threshold settings
  
• Support/Resistance Trading: TREV close levels often become significant price zones
  

• True TREV Logic: Enforces proper trend reversal rules that many implementations ignore
  
• No Impossible Scenarios: Prevents wicks on both sides of candles and impossible direction changes
  
• Professional Visualization: Clean, customizable appearance suitable for serious analysis
  
• Performance Optimized: Handles large datasets without lag or drawing limit issues
  
• Educational Value: Helps traders understand the difference between time-based and threshold-based charting