This is a Candlestick template script to be used for identifying momentum and waves.
There are only 2 types of candles - Momentum Candles ( MC - Body height >= 50%) and Indecision Candles ( IC ).
ICs are further separated as Tiny Beast based on NimblrTAs, Candle height ratio compared to certain % Open price of the day. The % varies based on TF of the chart.
Green and Red are MCs .
IC is colored white
Tiny Beast based on Candle height is colored blue.
Tiny Beast based on Candle height + Body Height is marked $.
This setup is used to identify Waves (ascending waves, descending waves, binets, reverse binets etc) - Per Line chart, Zig Zag .
Intraday EMA setup - 5, 13, 34 is used for EMA alignment
Investment EMA setup - 5, 21, 55 is used for EMA alignment.
PSAR 0.01 setting is normally used for trailing / to check ascending or descending wave at high level.
PSAR 0.005 is additionally added to check for follow-up of move. So when PSAR 0.01 is broken, expect PSAR 0.005 to be broken. That can be a scalping target or confirmation of capturing the right trend.
VWAP has been added based on feedback received.
Revisions for v 1.3
1) Added ORB settings for 1st 15 min range. Removed option to modify time for the 9:15 to 9:30 slot.
2) Added ORB for slot 1-4. Timings can be set. 1st 15 min time of respective slot need to be set. Slot 1-4 settings will be applicable for current day only.
3) Option to stop ORB at start of slot1
4) Option to stop all ORB lines
5) Option to color background differently based on different slots provided. Applicable only for current day.
6) Option to hide all EMA lines in single click
7) Option to hide PSARs'
8) Tiny Beast High Low lines
9) Tiny Beast High Low ISL lines (only if chart is intraday TF)
10) Option to stop the Tiny Beast Lines
11) Added option to enable or disable Zig Zag with a single button.
12) Fixed ORB issues found during live trading.
Revisions for v 1.4
Added Decision point levels - PD, PW, PM, 2Day OHLC + DO DH DL
Added 3 CCI levels to be plotted on current candle.
Added CCI 8 extreme levels to be plotted for respective candles.
CCI settings have been automated based on timeframe of the chart.
Minor update:
Added CCI of current candle to be shown as a table, instead of printing above the candle
This setup is used for Intraday as well as Investments. The settings have been defaulted for Intraday setup.