OPEN-SOURCE SCRIPT
Candle State (The Strat)
Updated
This script identifies the 2 different Candle States for use in #TheStrat.
Candle Up - The close of the current candle is greater than the close of the previous candle.
Candle Down - The close of the current candle is less than the close of the previous candle.
Though this script is extremely simple it is a teaching aid for #TheStrat.
The script also assists in the identification of up and down candles with gaps where the color of candle will not always match the Candle State.
Analysis of the candle types can help you define actionable signals and draw broadening formations.
Disclaimer: All scripts from this account are for informational purposes only and do not produce buy or sell recommendations.
© 2020 Crinklebine
Candle Up - The close of the current candle is greater than the close of the previous candle.
Candle Down - The close of the current candle is less than the close of the previous candle.
Though this script is extremely simple it is a teaching aid for #TheStrat.
The script also assists in the identification of up and down candles with gaps where the color of candle will not always match the Candle State.
Analysis of the candle types can help you define actionable signals and draw broadening formations.
Disclaimer: All scripts from this account are for informational purposes only and do not produce buy or sell recommendations.
© 2020 Crinklebine
Release Notes
Implemented to the correct logic to be compliant with #TheStrat guides.The source is open and viewable for review, critic and for you to extend or change.
Disclaimer: All scripts from this account are for informational purposes only and do not produce buy or sell recommendations.
© 2020 Crinklebine
Release Notes
Removed version labelOpen-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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.