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Candleanalysis

Wick Size in USD with 10-Bar AverageWick Size in USD with 10-Bar Average Version: 1.0 Author: QCodeTrader 🔍 Overview This indicator converts the price wicks of your candlestick chart into USD values based on ticks, providing both raw and smoothed data via a 10-bar simple moving average. It helps traders visualize the monetary impact of price extremes, making it easier to assess volatility, potential risk, and plan appropriate stop loss levels. ⚙️ Key Features Tick-Based Calculation: Converts wick sizes into ticks (using a fixed tick size of 0.01, typical for stocks) and then into USD using a customizable tick value. 10-Bar Moving Average: Smooths out the wick values over the last 10 bars, giving you a clearer view of average wick behavior. Bullish/Bearish Visual Cues: The chart background automatically highlights bullish candles in green and bearish candles in red for quick visual assessment. Stop Loss Optimization: The indicator highlights long wick sizes, which can help you set more accurate stop loss levels. Even when the price moves in your favor, long wicks may indicate potential reversals—allowing you to account for this risk when planning your stop losses. User-Friendly Customization: Easily adjust the USD value per tick through the settings to tailor the indicator to your specific instrument. 📊 How It Works Wick Calculation: The indicator calculates the upper and lower wicks by measuring the distance between the candle’s high/low and its body (open/close). Conversion to Ticks & USD: These wick sizes are first converted from price points to ticks (dividing by a fixed tick size of 0.01) and then multiplied by the user-defined tick value to convert the measurement into USD. Smoothing Data: A 10-bar simple moving average is computed for both the upper and lower wick values, providing smoothed data that helps identify trends and deviations. Visual Representation: Columns display the raw wick sizes in USD. Lines indicate the 10-bar moving averages. Background Color shifts between green (bullish) and red (bearish) based on candle type. ⚡ How to Use Add the Indicator: Apply it to your chart to begin visualizing wick sizes in monetary terms. Customize Settings: Adjust the Tick Value in USD in the settings to match your instrument’s tick value. (Note: The tick size is fixed at 0.01, which is standard for many stocks.) Optimize Your Stop Loss: Analyze the raw and averaged wick values to understand volatility. Long wicks—even when the price moves in your favor—may indicate potential reversals. This insight can help you set more accurate stop loss levels to protect your gains. Analyze: Use the indicator’s data to gauge market volatility and assess the significance of price movements, aiding in more informed trading decisions. This indicator is perfect for traders looking to understand the impact of extreme price movements in monetary terms, optimize stop loss levels, and effectively manage risk across stocks and other instruments with similar tick structures.
Pine Script® indicator
by QCodeTrader
Open_close AND HIGH_LOW_diffAverage of Absolute (Open - Close) Indicator This indicator calculates the average of the absolute difference between the open and close prices of the last n candles and plots the result in a separate panel. Key Features: Customizable Period: Users can set the number of candles (n) to include in the average calculation. Absolute Value Calculation: The script computes the absolute difference (|Open - Close|) for each candle, ensuring only positive values are averaged. Separate Panel Visualization: The indicator is displayed in a separate panel below the main chart for clear and uncluttered analysis. Red Plot: The average value is plotted with a bold red line for easy identification. Use Cases: Analyze the average volatility of price movements over a specified period. Identify periods of consistent price differences between open and close levels. Complement other volatility or trend-based indicators. This tool is ideal for traders who want to monitor the consistency of price fluctuations and integrate it into their decision-making process. How to Use: Add the script to your TradingView chart. Adjust the "Number of Candles" input to match your preferred look-back period. Observe the red line in the separate panel to analyze the average absolute difference over time. Feel free to reach out with suggestions or feedback to enhance the functionality of this script!
Pine Script® indicator
by Gujarati_trader
TechniTrend: CandleMetrics🟦 Overview The TechniTrend: CandleMetrics Indicator is a powerful tool designed to give traders an in-depth analysis of candlestick structures. This indicator allows users to identify potential reversal points, trend continuations, and other crucial market behaviors by examining key ratios between candle components—such as body, shadow, and overall range—alongside volume conditions. The advanced filtering options offer flexibility for both novice and experienced traders, enabling tailored setups to suit different trading strategies. 🟦 Key Features 🔸Customizable Ratios: Set thresholds for Body-to-Range, Shadow-to-Range, Upper Shadow-to-Range, and Lower Shadow-to-Range ratios. 🔸Volume-Based Filters: Integrate volume conditions to strengthen the reliability of signals. 🔸Flexible Conditions: Choose whether filters should work independently or in combination, allowing for precise pattern identification. 🔸Visual Markers: Mark potential signals with a distinct background color and symbols on the chart. 🔸Alerts: Receive notifications for each selected condition, ensuring you never miss an opportunity. 🟦 How It Works The CandleMetrics Indicator operates by analyzing the relationship between different components of each candlestick, combined with volume data to determine the strength of signals. Here’s a detailed breakdown of each feature: 🔸 Body to Range Ratio: This filter compares the size of the candle's body to its total range (from high to low). Example Setting: If you’re interested in spotting candles with small bodies relative to their total range, you might set the Body-to-Range Ratio to “Less than 0.3.” 🔸 Shadow to Range Ratio: This examines the combined size of both shadows (upper and lower) relative to the entire candle range. Example Setting: Use a Shadow-to-Range Ratio set to “More than 0.8” to find candles with significant wick lengths, suggesting market indecision. 🔸 Upper Shadow to Range Ratio: This filter assesses the proportion of the upper shadow (wick) in relation to the candle’s full range. Example Setting: “Less than 0.05” can help identify situations where the upper shadow is minimal, indicating strong downward pressure. 🔸 Lower Shadow to Range Ratio: It measures the lower shadow compared to the entire candle range. Example Setting: “More than 0.7” is useful for detecting potential rejection patterns at lower prices, hinting at a possible bullish reversal. 🔸 Volume Filter: Integrates volume data to verify the reliability of each candle pattern. Example Setting: Apply a Volume Filter Length of 100 with an SMA type to smooth volume data over a longer period, filtering out short-term noise and focusing on significant volume shifts. 🟦 Combining Filters The indicator offers an option to Combine Filters. When this setting is enabled, all selected conditions must be met simultaneously for a candle to be marked. If disabled, each condition functions independently, allowing more flexibility in detecting diverse patterns. 🟦 Examples & Use Cases 🔸Example 1: Spotting Reversal Opportunities I used the following configuration to find potential bullish reversals: Upper Shadow to Range Ratio: “Less than 0.05” – Looking for candles with almost no upper shadow. Lower Shadow to Range Ratio: “More than 0.7” – Highlighting candles with a significant lower shadow. Volume Filter Length: 100 with SMA. This setup effectively highlights candles where price rejection is happening at lower levels, suggesting a potential trend reversal to the upside. 🔸Example 2: Detecting Market Uncertainty If you want to focus on candles showing market hesitation, try: Shadow to Range Ratio: “More than 0.85” – Emphasizing long-wick candles that could indicate indecision. Disable Combine Filters to allow flexibility, marking any candle meeting the above criteria. 🟦 Detailed Explanation of Each Option Here’s a clear and concise breakdown of each option for a better understanding: 1. Body to Range Ratio Purpose: This ratio shows how significant the candle's body is compared to its overall range. A smaller body-to-range ratio can indicate a potential reversal if the market appears indecisive. How to Use: Increase the ratio to filter for stronger trend candles; decrease it to identify reversal or indecision candles. 2. Shadow to Range Ratio Purpose: This filter captures the size of both shadows relative to the candle's total range. A larger ratio often points to market hesitation, while a smaller ratio suggests a decisive move. How to Use: Adjust this filter to focus on candles with long wicks (indecision) or short wicks (decisiveness). 3. Upper Shadow to Range Ratio Purpose: Helps to identify candles with strong downward moves by focusing on the upper wick length. A small upper shadow can imply sellers' dominance. How to Use: Lower the ratio to detect candles with minimal upward rejection. 4. Lower Shadow to Range Ratio Purpose: Targets candles with strong buying pressure by analyzing the lower shadow. A larger lower shadow may indicate a bullish reversal. How to Use: Increase the ratio to spot rejection candles with significant lower shadows. 5. Volume Filter Purpose: Adds a volume component to verify the validity of each candlestick pattern. Higher-than-average volume often signifies the strength of a move. How to Use: Adjust the filter length and type to smooth out volume fluctuations based on your trading timeframe. 🟦 Indicator Alerts Each filter has its own alert configuration, enabling traders to stay updated on market conditions that meet their selected criteria. You can customize alerts to trigger whenever a condition is met, helping to manage trades even when away from the screen.
Pine Script® indicator
by itsKraken
Discovery IndexThe Discovery Index is an original technical indicator which attempts to display directional market pressure and momentum based on accumulated candle-over-candle measurements. Discovery , in this context, is the act of finding (discovering) New Highs and Lows. > What is 'Discovery' Not to be confused with "Price Discovery", the term for setting the spot price of an asset. The term 'Discovery' in Discovery Index is used based on the literal definition of 'Discovery', such as, the action of finding what was previously unknown. Given this definition, Discovery is the difference between highs or lows only when the current high is higher than the previous high or the current low is lower than the previous low. Below is a visual example of exactly where Discovery is seen from each candle. Since discovery is only based on points of the candle, and not specifically the direction of the candle; it is possible for discovery to occur in both directions from the same candle. It is also possible for no discovery to occur from a candle. > Calculation The Discovery Index is the Net Total of discovery data over a specified length of bars. Discovery Index = Sum of Upwards Discovery + Sum of Downwards Discovery Note: Upwards Discovery is always Positive, and Downwards Discovery is always Negative. By adding both together, their Net Total is produced. This value is the "Discovery Index". Wick Calculation Example > Volume Discovery Using Volume for the Discovery Index Calculation allows for a different dimension to be added to the data for new analysis opportunities. While volume data is only a single value, by accumulating this data over time, we are able to fabricate a candle body from the data by accounting for the direction of the chart candles. This allows for the Calculation of the Discovery Index based on volume data. Volume Example > Display The display uses a "Candlestick histogram" display. The bodies and wicks from the display represent the discovery data from the respective points in each candle. (Wick Discovery & Candle Body Discovery). This style of histogram allows for the display of both data sources, preserving the accuracy and distinction between each type, while also providing a clean display. > Considerations Discovery index is not an Oscillator, since there are no upper or lower boundaries to its rotations. There are not (at this time) any "Over-bought" or "Over-sold" Areas, this is partially due to the previous consideration since any levels for these could potentially change from chart to chart. Additionally, it would generally be better to read the data based on the context of the current market. Non-directional movements effect the Discovery Index as well. Since Discovery does not occur from every bar, the Index reflects hesitations as well as movements in market direction. With the option to input a symbol, the Discovery Index Indicator is not constrained to one chart ticker for its calculation and could help to see shifts between different symbols, making it easier to compare different assets. With the separation of wicks and candle body data, a stronger move may be observed by its full-bodied movements, while a potentially more speculative move may be seen from large wick movements. Since wicks are often interpreted as either, Rejection for reversal OR as Testing for continuation, the interpretation for Wick Discovery generally varies based on context. Discovery Index ⇾ Divergences! Due to its calculation, price (and/or volume) data is displayed in such a way that makes it useful as a tool for identifying divergence opportunities. Remember, this indicator is lookback based. An immediate significant change from the data source (if not offset by a similar opposite change) will be represented for multiple bars after its occurrence. Due to this, data is likely to be skewed or biased from these occurrences for a period of time after. Throughout development, "Discovery" has been shortened to just "Disco", therefore, this indicator is also an attempt to bring Disco Back. Enjoy!
Pine Script® indicator
by SamRecio
1
Candle StrategyThis strategy is based candle count number also strategy analysis - Rules for buy- 1) choose Candle Number(Ex.-47) For Trade 2) Trade Sell if price is above high of day 1st candle that mean direction is upside 3) We are taking stop loss on lowest low of candle since day first candle to trade no. 4) close Trade at last bar of the day 5) Trader Can Choose Trade Direction From input Rules for Sell- 1) Choose Candle Number(Ex.-47) For Trade 2) Trade Sell if price is below low of day 1st candle that mean direction is downside 3) We are taking stop loss on highest of candle since day first candle to trade no. 4) close Trade at last bar of the day 5) Trader Can Choose Trade Direction From input Note - this strategy can be also use for static to understand which candle will make low/high of the day high chance Example in bank nifty 5 minutes chart candle no 47 have highest trade opportunity appear on long side ...this data is small based on 5000 previous bar ... Disclaimer: market involves significant risks, including complete possible loss of funds. Consequently trading is not suitable for all investors and traders. By increasing leverage risk increases as well.With the demo account you can test any trading strategies you wish in a risk-free environment. Please bear in mind that the results of the transactions of the practice account are virtual, and do not reflect any real profit or loss or a real trading environment, whereas market conditions may affect both the quotation and execution
Pine Script® strategy
by samscripter
5
[KVA]Body Percentage Counter This indicator presents a comprehensive view of the historical candle data within user-defined body percentage ranges. Each column represents a specific body size percentage threshold, starting from as low as 0.01% and extending up to 20%. The rows categorize candles by their closing and opening price differences, effectively sorting them into green (bullish) and red (bearish) candles based on whether they closed higher or lower than their opening prices. First Row of the table is the bu For developers, this table can be immensely useful in determining stop-loss ranges. By analyzing the frequency of candles that fall within certain body percentage ranges, developers can better understand where to set stop-loss orders. For instance, if a developer notices a high frequency of candles with body sizes within a specific percentage range, they may choose to set their stop-loss orders outside of this range to avoid being stopped out by normal market fluctuations. Moreover, the indicator can be used to: Volatility Assessment : The indicator can be used to gauge market volatility. Smaller bodies may indicate consolidation periods, while larger bodies might suggest more volatile market conditions. Optimize Trading Strategies : Adjust entry and exit points based on the prevalence of certain candle sizes. Risk Management : Determine the commonality of price movements within a certain range to better manage risks. Backtesting : Use historical data to backtest how different stop-loss ranges would have performed in the past. Comparative Analysis : Traders can compare the frequency of different body sizes over a selected period, providing insights into how the market is evolving. Educational Use : For new traders, the indicator can serve as an educational tool to understand the implications of candlestick sizes and their relationship with market dynamics The data provided in this output can guide developers to make more informed decisions about where to place stop-loss orders, potentially increasing the effectiveness of their trading algorithms or manual trading strategies. The output of the " Body Percentage Counter" indicator is organized into a table format, which can be broken down as follows: Header (First Row) : This row lists the body percentage thresholds used to categorize the candles. It starts from 0.01% and increases incrementally to 20%. These thresholds are likely set by the user and represent the range of candle body sizes as a percentage of the total candle size. Green Candle Count (Second Row) : This row displays the count of green candles—candles where the close price is higher than the open price—that fall within each body percentage threshold. For example, under the column "0.01", the number 25 indicates there are 25 green candles whose body size is 0.01% of the total candle size. Red Candle Count (Third Row) : This row shows the count of red candles—candles where the close price is lower than the open price—for each body percentage threshold. The numbers in this row reflect the number of red candles that match the body percentage criteria in the corresponding column. Total Candle Count (Fourth Row) : This row sums the counts of both green and red candles for each body percentage threshold, providing a total count of candles that have a body size within the specific range. For instance, if under "0.01" the green count is 25 and the red count is 26, then the total would be 51. This organized data representation allows users to quickly assess the distribution of candle body sizes over a historical period, which is especially useful for determining the frequency of price movements that are significant enough to consider for stop-loss settings or other trade management decisions.
Pine Script® indicator
by Kamvia
Futures All List Candle Analysis - FALCAIn this command; There is an alphabetical list of USDS-M coins with the USDT PERP extension on the Binance Futures side. There are 13 lists in total. Each list contains 39 data. Due to data limitation, 13 lists are formed. There are 13 coins in the first 11 of the lists. The 12th list contains 3 coins. The last list (FAVORITE LIST) is CRYPTOCAP:TOTAL, BINANCE:BTCUSDTPERP, BINANCE:BTCDOMUSDTPERP as standard. You must add 10 coins to the final list. The lists show data for the time period you selected. Explanation of the (C/H) header: Close /High takes a maximum value of 1. As long as this value is 1, a price increase is observed. Explanation of the (C/O) header: Close /Open can be greater than ,1. In this case, a price increase is observed. Close /Open can be less than 1. In this case, a price decrease is observed. The value Close /Open can be equal to 1. In this case, price stability is observed. Explanation of the (C/L) header: Close /Low takes a minimum value of 1. As long as this value is 1, a price decrease is observed. Coins with a price decrease are shown in red. Coins with a price increase will turn green. ***NOTE: For this command to work, you must first add 10 favorite coins to the "FAVORITE LIST".
Pine Script® indicator
by gokhanpirnal
2
Candlestick Trading (Malaysia Stock Market)1. This indicator will indicate signals of bearish/bullish candlestick as below: - 10 Bear Candles: Dark Cloud Cover, Bearish Kickers, Bearish Engulfing, Evening Star, Three Black Crows, Hanging Man, Shooting Star, Tweezer Top, Bearish Harami, Doji - 10 Bull Candles: Piercing, Bullish Kickers, Bullish Engulfing, Morning Star, Three White Soldiers, Hammer, Inverted Hammer, Tweezer Bottom, Bearish Harami, Doji 2. In order for the Bear Candle signals to appear, these conditions should be met: - Price must be above MA 1 (preset at SMA 20) - Price must be above MA 2 (preset at SMA 50) - Price must be above MA 3 (preset at SMA 200) - In the range of specified trading days (preset at latest 10 days of trading) 3. For a strong bearish signal, a namely 'Potential Top' signal will appear on the top of the bearish candlestick signal. This 'Potential Top' signal will only appear under the condition of: - Stochastic is at overbought area (preset at 75%) 4. In order for the Bull Candle signals to appear, these conditions should be met: - Price must be in between MA 4 (preset at EMA 30) and MA 5 (preset at EMA 100) - In the range of specified trading days (preset at latest 10 days of trading) 5. For a strong bullish signal, a namely 'Potential Bottom' signal will appear at the bottom of the bullish candlestick signal. This 'Potential Bottom' signal will only appear under the condition of: - Stochastic is at oversold area (preset at 25%) 6. This indicator can help one to enter/exit a trade based on the bullish/bearish candlestick patterns that appear at the beginning/end of a trend, especially when the 'Potential Bottom/Top' appears with any of bullish/bearish candlestick signal. 7. However, this indicator is only designed for Malaysian Stocks Market as the script is based on the bids/pips calculation of the Malaysian Stocks Market. Nevertheless, I let the script open for everyone to modify it based on your own preference markets/instruments. 8. Hope you guys enjoy it. Thanks.
Pine Script® indicator
by taufan_ganas
2
Candlestick RecognitionCandlestick Recognition Version 1.0 Fun script to recognize and name candlesticks. Hamers and Highwaves and Marubozus oh my! All candlestick names can be turned on or off in the settings since sometimes they stack close to each other and are hard to read. If you think I mislabeled any please provide me with an example of what you think it should be and I will review it to see if any changes need to be made. Please keep in mind that each stock will be a little different as the Candlestick Recognition uses ATR (Average True Range) for the calculations.
Pine Script® indicator
by Dustin_D_RLT
2
Multi Time Frame Candles with Volume Info / 3DHello Traders, This is my second Multi Time Frame Candles script but with this new one, you will have some new features such volume info, remaining time to close of higher time frame candle and also developed using new features of Pine such array of lines. also I tried to make it 3D for better visualization ;) also it shows new highs/lows / breakouts. I tried to make many things optional, so you can change almost everything using options. What you can change using options: - Higher time frame - Number of Candles - Candle Colors Up/Down - Wick Color - Volume colors Up/Down - Text color of Remaining Time - Shadow Color - Background color - Start bar of the candles (so you can see many higher times frame candles in same window) - 3D effect, by default it's enables but you can disable 3D view Lets see some examples: Remaining time: Breakouts: You can combine different higher time frames: if you don't want 3D view then combining different higher time frames: You can change background color: Enjoy!
Pine Script® indicator
by LonesomeTheBlue
102