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Candlestick analysis

Inversion Fair Value Gap Oscillator | Flux Charts💎 GENERAL OVERVIEW Introducing the new Inversion Fair Value Gap Oscillator (IFVG Oscillator) indicator! This unique indicator identifies and tracks Inversion Fair Value Gaps (IFVGs) in price action, presenting them in an oscillator format to reveal market momentum based on IFVG strength. It highlights bullish and bearish IFVGs while enabling traders to adjust detection sensitivity and apply volume and ATR-based filters for more precise setups. For more information about the process, check the "📌 HOW DOES IT WORK" section. Features of the new IFVG Oscillator: Fully Customizable FVG & IFVG Detection An Oscillator Approach To IFVGs Divergence Markers For Potential Reversals Alerts For Divergence Labels Customizable Styling 📌 HOW DOES IT WORK? Fair Value Gaps are price gaps within bars that indicate inefficiencies, often filled as the market retraces. An Inversion Fair Value Gap is created in the opposite direction once a FVG gets invalidated. The IFVG Oscillator scans historical bars to identify these gaps, then filters them based on ATR or volume. Each IFVG is marked as bullish or bearish according to the opposite direction of the original FVG that got invalidated. An oscillator is calculated using recent IFVGs with this formula : 1. The Oscillator starts as 0. 2. When a new IFVG Appears, it contributes (IFVG Width / ATR) to the oscillator of the corresponding type. 3. Each confirmed bar, the oscillator is recalculated as OSC = OSC * (1 - Decay Coefficient) The oscillator aggregates and decays past IFVGs, allowing recent IFVG activity to dominate the signal. This approach emphasizes current market momentum, with oscillations moving bullish or bearish based on IFVG intensity. Divergences are marked where IFVG oscillations suggest potential reversals. Bullish Divergence conditions are as follows : 1. The current candlestick low must be the lowest of last 25 bars. 2. Net Oscillator (Shown in gray line by default) must be > 0. 3. The current Bullish IFVG Oscillator value should be no more than 0.1 below the highest value from the last 25 bars. Traders can use divergence signals to get an idea of potential reversals, and use the Net IFVG Oscillator as a trend following marker. 🚩 UNIQUENESS The Inversion Fair Value Gap Oscillator stands out by converting IFVG activity into an oscillator format, providing a momentum-based visualization of IFVGs that reveals market sentiment dynamically. Unlike traditional indicators that statically mark IFVG zones, the oscillator decays older IFVGs over time, showing only the most recent, relevant activity. This approach allows for real-time insight into market conditions and potential reversals based on oscillating IFVG strength, making it both intuitive and powerful for momentum trading. Another unique feature is the combination of customizable ATR and volume filters, letting traders adapt the indicator to match their strategy and market type. You can also set-up alerts for bullish & bearish divergences. ⚙️ SETTINGS 1. General Configuration Decay Coefficient -> The decay coefficient for oscillators. Increasing this setting will result in oscillators giving the weight to recent IFVGs, while decreasing it will distribute the weight equally to the past and recent IFVGs. 2. Fair Value Gaps Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation. Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average. FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish. Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs. 3. Inversion Fair Value Gaps Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. 4. Style Divergence Labels On -> You can switch divergence labels to show up on the chart or the oscillator plot.
Pine Script™ indicator
by fluxchart
Engulfing BoxThe Engulfing Box indicator is a custom script designed to visually highlight and track bullish and bearish engulfing candlestick patterns on a price chart. These patterns are often used to identify potential reversal points, making them valuable for technical analysis. The script dynamically draws colored boxes around these patterns, helping users easily spot them in the price action. Key Features: Bullish Engulfing Pattern: When a candlestick fully engulfs the previous bearish candle (i.e., the close of the current candle is higher than the open of the previous candle, and the open is lower than the close of the previous candle), the script draws a green box around the bullish engulfing candle. This box is drawn from the open of the previous candle to the low of the previous candle. Bearish Engulfing Pattern: When a candlestick fully engulfs the previous bullish candle (i.e., the close of the current candle is lower than the open of the previous candle, and the open is higher than the close of the previous candle), a red box is drawn around the bearish engulfing candle. This box is drawn from the open of the previous candle to the high of the previous candle. Dynamic Box Management: Once an engulfing pattern is detected, a box is drawn with the following attributes: Bullish Engulfing Box: Green, with a transparent background. Bearish Engulfing Box: Red, with a transparent background. The box will adjust its color to gray if the price moves past certain thresholds, indicating that the engulfing pattern may no longer be as relevant. Max Pattern Tracking: The script limits the number of engulfing boxes tracked on the chart to prevent clutter. The maximum number of bullish and bearish engulfing patterns shown is customizable (set to 500 by default), and once this limit is exceeded, older boxes are deleted to maintain a clean chart. Pattern Expiry: Boxes are deleted if price action moves beyond the pattern’s range, ensuring that outdated signals are removed. If the low price falls below the bottom of the bullish engulfing box, or the high price rises above the top of the bearish engulfing box, the respective box is removed. Additionally, if the low price moves below the top of the bullish box or the high price exceeds the bottom of the bearish box, the box's color is changed to a more neutral tone. How it Works: Pattern Detection: The script compares the current price data with the previous candlestick to detect the bullish or bearish engulfing patterns. Box Creation: If a pattern is detected, a colored box is drawn around the candle to visually highlight the pattern. Pattern Expiry and Cleanup: The script continuously monitors past boxes. If the price moves too far from the box’s range, the box is either deleted or altered to reflect the reduced significance of the pattern. B ox Count Limit: To avoid clutter, the script ensures that no more than 500 bullish or bearish engulfing boxes are shown at any time. Customization: The number of previous bars to scan for engulfing patterns can be adjusted (maxBarsback). The maximum number of patterns displayed at any time can be modified.
Pine Script™ indicator
by daisukeburn
Reptile Candle Marker with ArrowsReptile Candle Marker The Reptile Candle Marker is a custom indicator designed to identify a specific pattern in price action, known as the "reptile candle." This pattern is characterized by a small body with long wicks on both the upper and lower sides. These candles often indicate indecision or a reversal in the market, making them useful for traders looking for potential turning points. Key Features: Small Body and Large Wicks: The indicator highlights candles with a small body relative to the overall candle range, accompanied by long upper and lower wicks. This is achieved by comparing the size of the wicks to the body and the overall candle range. Volume Confirmation: The indicator ensures that the identified candles are accompanied by high volume, which serves as confirmation of the significance of the price action. Visual Highlighting: When a "reptile" candle is detected, the body of the candle and the wicks are both colored yellow. This allows for easy identification on the chart. Custom Wick Lines: To ensure the wicks stand out, the indicator draws yellow lines above and below the candles, representing the upper and lower wicks. These lines remain fixed in place even as the chart is scaled or moved. How It Works: The indicator identifies candles where: The upper wick is longer than the body by a specified ratio. The lower wick is longer than the body by the same ratio. The candle's body size is small compared to the total candle range (less than 30% of the range). The volume is significantly higher than the 20-period moving average volume, indicating increased market activity. When these conditions are met, the indicator marks the candle by coloring its body and wicks yellow. Additionally, it draws custom yellow wick lines to visually represent the wick size. How to Use: This indicator is designed to highlight potential reversal points or periods of indecision in the market. Traders can use it to spot possible turning points, especially when accompanied by other technical analysis tools such as support/resistance levels or trend indicators. Customizable Parameters: Wick to Body Ratio: Controls the sensitivity for detecting large wicks relative to the candle body. Volume Factor: Adjusts the threshold for identifying candles with significantly higher volume than the moving average.
Pine Script™ indicator
by drorza
5-Minute EurUsd GbpUsd Pivot Bars 1.0The 5-Minute EurUsd GbpUsd Pivot Bars indicator is a specialized tool crafted to identify low-range pivot bars on 5-minute charts, specifically optimized for EURUSD and GBPUSD pairs. By focusing on precise pip measurements tailored for pairs where 1 pip is represented by 0.0001, this indicator highlights potential pivot bars within specific trading sessions, helping traders identify intraday reversals and optimal entry points. This is particularly beneficial for traders looking for directional clarity in high-liquidity pairs like EURUSD and GBPUSD during key trading sessions. Key Features: - Customizable Pip Thresholds for EURUSD and GBPUSD: This indicator uses the following thresholds, tailored for EURUSD and GBPUSD pairs: - Limited Range: Highlights bars with a range of 4 pips or less between open and close. - High/Low Directionality: Requires at least 3 pips between the close/open and the bar's high or low. - Open/Close Proximity: Marks bars where the open and close are within 4 pips. - Inside Bar Tolerance: Excludes inside bars that fall within a 3-pip range of the previous bar’s high and low. - Session-Based Alerts: - The indicator allows users to enable alerts specifically for the European Session (6:00-12:00), American Session (12:00-17:00), and London Close (17:00-20:00). Adjust these session times based on your time zone by using the time-shift parameter. - Alerts are triggered in real-time for valid bullish and bearish pivot bars within the specified sessions, enabling you to react to potential market moves promptly. - Time Shift Flexibility: - Adjust the "Time Shift" parameter to account for different time zones, ensuring session alignment wherever you are trading from. How It Works: 1. Pivot Bar Identification: The indicator scans for bars where the difference between the open and close is within the "Limited Range" threshold. Both the open and close should be near either the high or the low of the bar. 2. Directional Filtering: It only considers bars with a strong directional bias by enforcing a minimum distance between the open/close levels and the opposite end of the bar (high/low). Bars that do not exhibit this directionality are excluded. 3. Inside Bar Exclusion: Inside bars, where the bar's range is completely contained within the previous bar’s high and low (with a tolerance of 3 pips), are excluded. Consecutive inside bars are also excluded, helping to filter out bars typically associated with market consolidation. 4. Session-Specific Alerts: When a valid pivot bar appears within the chosen sessions, an alert is triggered. The alerts differentiate between bullish and bearish pivot bars based on whether the close is near the high or the low of the bar. How to Use: - Trend Reversals: This indicator can help spot potential trend reversals or pullbacks within active trading sessions on a 5-minute chart. - Refining Entry Points: The highlighted bars provide potential entry signals for traders looking to capitalize on short-term directional changes. - Combining with Other Indicators: For more robust analysis, combine this tool with momentum indicators or trendlines to confirm signals and enhance decision-making. Default Parameters: - Limited Range: 4 Pips - High/Low Directionality: 3 Pips - Open/Close Proximity: 4 Pips - Inside Bar Tolerance: 3 Pips - Session Alerts: Enabled for European, American, and London Close sessions - Time Shift: Default set to 6 (adjustable to match your time zone) This indicator is specifically optimized for EURUSD and GBPUSD pairs on 5-minute charts due to its pip calculation.
Pine Script™ indicator
by TrendFollowingTradersCommunity
Rikki's DikFat Buy/Sell OscillatorAttached we have a very simple Buy/Sell Oscillator. This script will color candles red when price is bear trending and green when price is bull trending. I have taken elements of our CCI color signaler indicator found here: to make this very simple and easy to read candlestick color oscillator for traders both new and seasoned. The the red candles color red as a result of the fuchsia CCI condition on the previously mentioned indicator. The green candles color as a result of the black CCI color condition on the previously mentioned script. The script was modified to run the black CCI condition anywhere the fuchsia condition is not displayed and the colors were changed to red and green for a clean visual representation on the chart. I have not quite got the wick and border colors correct. For some reason they keep reverting when you click out of the script setting. Will update once complete. The code and script are public. Enjoy :)
Pine Script™ indicator
by Midgar-
Enhanced London Session SMC SetupEnhanced London Session SMC Setup Indicator This Pine Script-based indicator is designed for traders focusing on the London trading session, leveraging smart money concepts (SMC) to identify potential trading opportunities in the GBP/USD currency pair. The script uses multiple techniques such as Order Block Detection, Imbalance (Fair Value Gap) Analysis, Change of Character (CHoCH) detection, and Fibonacci retracement levels to aid in market structure analysis, providing a well-rounded approach to trade setups. Features: London Session Highlight: The indicator visually marks the London trading session (from 08:00 AM to 04:00 PM UTC) on the chart using a blue background, signaling when the high-volume, high-impulse moves tend to occur, helping traders focus their analysis on this key session. Order Block Detection: Identifies significant impulse moves that may form order blocks (supply and demand zones). Order blocks are areas where institutions have executed large orders, often leading to price reversals or continuation. The indicator plots the high and low of these order blocks, providing key levels to monitor for potential entries. Imbalance (Fair Value Gap) Detection: Detects and highlights price imbalances or fair value gaps (FVG) where the market has moved too quickly, creating a gap in price action. These areas are often revisited by price, offering potential trade opportunities. The upper and lower bounds of the imbalance are visually marked for easy reference. Change of Character (CHoCH) Detection: This feature identifies potential trend reversals by detecting significant changes in market character. When the price action shifts from bullish to bearish or vice versa, a CHoCH signal is triggered, and the corresponding level is marked on the chart. This can help traders catch trend reversals at key levels. Fibonacci Retracement Levels: The script calculates and plots the key Fibonacci retracement levels (0.618 and 0.786 by default) based on the highest and lowest points over a user-defined swing lookback period. These levels are commonly used by traders to identify potential pullback zones where price may reverse or find support/resistance. Directional Bias Based on Market Structure: The indicator provides a market structure analysis by comparing the current highs and lows to the previous periods' highs and lows. This helps in identifying whether the market is in a bullish or bearish state, providing a clear directional bias for trade setups. Alerts: The indicator comes with built-in alert conditions to notify the trader when an order block, imbalance, CHoCH, or other significant price action event is detected, ensuring timely action can be taken. Ideal Usage: Timeframe: Suitable for intraday trading, particularly focusing on the London session (08:00 AM to 04:00 PM UTC). Currency Pair: Specifically designed for GBP/USD but can be adapted to other pairs with similar market behavior. Trading Strategy: Best used in conjunction with a price action strategy, focusing on the key levels identified (order blocks, FVG, CHoCH) and using Fibonacci retracement levels for precision entries. Target Audience: Ideal for traders who follow smart money concepts (SMC) and are looking for a structured approach to identify high-probability setups during the London session.
Pine Script™ indicator
by kapsevikrant5
Candle Pattern by sd.This candle pattern-based indicator analyzes price action to identify high-probability trading opportunities. By detecting key candlestick formations, it helps traders make informed decisions with precision. Whether for trend reversal signals, confirmation patterns, or trend continuation insights, this indicator provides clear, actionable alerts, enhancing trading accuracy across various market conditions. Ideal for both beginner and advanced traders aiming to capitalize on candle patterns.
Pine Script™ indicator
by SiddharthDholu
QUOTEX lIVE Market Signal By XadikuLTo enhance the strategy further, I'll add additional candlestick pattern confirmations commonly used for identifying potential reversals. In addition to bullish engulfing and bearish engulfing, I’ll include: Hammer: A single candlestick pattern that suggests a potential reversal at the bottom of a downtrend. Inverted Hammer: A single candlestick pattern that suggests a potential reversal at the bottom of a downtrend. Shooting Star: A single candlestick pattern indicating a potential reversal at the top of an uptrend. Doji: A pattern that represents market indecision and could suggest a reversal when combined with other conditions. Here’s the updated script with additional candlestick pattern confirmations:
Pine Script™ indicator
by xadikul2023
First 5 Minutes Open/Close LinesThis very simple indicator paints lines at the high and low of the first 5m candle of the session. It is primarily intended for big cap NYSE traded stocks with high volume. I wrote this indicator to save me the trouble of manually drawing the lines each day. The lines drawn at the 5m high/low will remain constant regardless of which timeframe you switch to. In the example screenshot, we are looking at the 1m timeframe. This helps us switch effortlessly between different timeframes to see if a given price movement meets our entry criteria. In addition to drawing lines at the first 5m high/low, it will optionally paint two zones, one each around the high and low. The boundaries of this zone are configurable and expressed as a percentage of the total movement of the first 5m bar. By default, it is set to 25%. This indicator is based on the concept that the first 5m bar always has massive volume which helps us infer that price may react around the extremes of that movement. The basic strategy works something like this: - You identify the high timeframe (HTF) trend direction of the stock - You wait for the first 5m candle of the session to close - You wait for price to puncture through the outer boundary of the zone marked by the indicator. - You enter when price retraces to the high, or low, which marks the midpoint of the punctured zone. - Only enter long on stocks in a HTF uptrend, and short on stocks in an HTF downtrend. - Use market structure to identify stop loss and take profit targets Note: Use at your own risk. This indicator and the strategy described herein are not in any way financial advice, nor does the author of this script make any claims about the effectiveness of this strategy, which may depend highly on the discretion and skill of the trader executing it, among many other factors outside of the author's control. The author of this script accepts no liability, and is not responsible for any trading decisions that you may or may not make as a result of this indicator. You should expect to lose money if using this indicator.
Pine Script™ indicator
by KingSpork
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