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OPEN-SOURCE SCRIPT

Candlestick Plot MTF

By mortdiggiddy
Updated
Plots the live non-repainting candles for a higher time interval than the chart interval.

Features:

  • Configuration of the look and feel of the MTF candles.
  • Live candles update as the price action evolves for the session.
  • Historical candles can be toggled on/off.
  • Includes a moving average ribbon that is also MTF, matching the interval chosen.


Please watch this video to understand more:

Release Notes
  • Improved gap logic.
Release Notes
  • Added Heikin Ashi Candles.
Release Notes
  • Fixed issues with heikin ashi plot.
Release Notes
  • Updated max "recent" candle count. Shows a maximum of 90 candles built with pine 4.0 lines instead of 9.
Release Notes
  • Major overhaul to Pine V5.
  • Swapped candle body lines for "boxes" that were recently introduced. This has increased the total number of drawn candles by a factor of 4x.
  • Removed Moving Averages.
  • Removed "historical candles". There is a max bars back limitation. This new version will show 500 boxes (candles) in history. Only the most recent 250 candles will show wicks.
  • Code is condensed and simplified, speed improved.
Release Notes
  • Added simple countdown label showing the time remaining until the interval ends.
Release Notes
  • Removed unused plot.
Release Notes
  • Added volume gradient.
  • Shade the background of candles and set the border width based on the candle relative volume compared to the previous N candles.\n\nA candle with a lower relative volume will appear more transparent and have a thinner border, while a candle with a higher relative volume will appear more opaque and have a thicker border.
Release Notes
  • Minor updates and improvements,
Release Notes
  • Added better volume gradient range.
  • Added large tooltips in the center of each candle that can be shown when hovered over. These tooltips show the current candle volume and also the volume percentile rank.
Release Notes
  • Tweaked volume gradient shading mechanism.
  • Added option to show volume percentile value inside candle.
  • Updated tooltips.
Release Notes
  • Added ability to set the wick colors based on bullish/bearish candles.
  • Added fade in/out mechanism to the volume percentile rank labels. The text opacity approaches 100 as the rank approaches 100.


snapshot
Release Notes
  • Set text opacity function to sqrt.
Release Notes
  • Added 'distribution' rank mode. See description in pictures attached to this update message.


Interesting combination of distribution and percentile rank modes on the same candle. This is live and occurred a few minutes ago when the CORE PCE data headline was released.

snapshot

snapshot
Release Notes
  • Updated input descriptions.
Release Notes
  • Added option to use custom sigma value, see input notes to know more next to the sigma variable.
  • Updated 'hybrid' candlestick types.
  • Updated documentation.
candleformationCandlestick analysiscandlestickpatterncandlesticksignalscandlestickspatternscandlesticktradermulti-timeframeTrend AnalysisVolatility

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

mortdiggiddy
Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
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