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Candlestick analysis

Custom Buy and Sell Signal with Body Ratio and RSI Indicator Overview: Name: Custom Buy and Sell Signal with Body Ratio and RSI Description: This indicator is designed to detect buy and sell opportunities by analyzing the body size and wicks of candles in combination with the RSI indicator and volume. It helps identify trend reversals under high-volume market conditions, which enhances the reliability of the signals. Indicator Features: RSI (Relative Strength Index): The RSI indicator is used to assess oversold (RSI < 40) or overbought (RSI > 60) conditions. These zones signal potential reversals when combined with other technical signals. Candle Body Analysis: The indicator compares the size of the current and previous candles to validate signals. For a buy signal, the current candle must be bullish and have a body size proportional to that of the previous bearish candle. Similarly, for a sell signal, the current candle must be bearish with a body size comparable to the previous bullish candle. Wick Validation: The indicator analyzes the wick length to reinforce or exclude signals. For a buy signal, the lower wick of the bullish candle must be shorter than that of the previous bearish candle. For a sell signal, the upper wick of the bearish candle must be shorter than that of the previous bullish candle and smaller than 30% of the candle's body. High Volume: Signals are only generated when the volume exceeds a certain threshold, ensuring that signals are issued in active market conditions. The minimum volume should be adjusted based on the asset. For example, for gold, a minimum volume of 9000 is recommended. Trading Strategy: Buy Signals: A bearish (red) candle is followed by a bullish (green) candle with a body size that is comparable to the previous candle (0.9 to 3 times the body size). The lower wick of the bullish candle is shorter than that of the previous bearish candle, confirming the validity of the signal. The RSI must be below 40, indicating an oversold condition. The volume must exceed the defined threshold (e.g., > 9000 for gold) to confirm an active market. Sell Signals: A bullish (green) candle is followed by a bearish (red) candle with a comparable body size. The upper wick of the bearish candle must be shorter than that of the previous bullish candle and must not exceed 30% of the body size. The RSI must be above 60, indicating an overbought condition. The volume must also exceed the minimum threshold for a valid signal. Usage Guidelines: Volume Adjustment: It is crucial to adjust the volume threshold depending on the asset you're trading. For example, for assets like gold, a minimum volume of 9000 is recommended to filter out weak signals. Each asset has a different volume dynamic, so test different thresholds on historical data to find the optimal setting. Time Frame: It is recommended to use this indicator on a 1-hour (1H) chart for the best signal relevance. This time frame provides a good balance between reactivity and filtering false signals. Confluence: Combine the signals from this indicator with other tools like support and resistance levels, moving averages, or chart patterns to increase your chances of success. Confluence of indicators improves the reliability of signals. Risk Management: Implement strict risk management. Use stop-losses based on volatility, such as ATR (Average True Range), or the wick size to determine exit points. Backtesting: Before using it live, conduct backtesting on various assets to fine-tune the parameters, especially the volume threshold, and to verify performance across different market conditions. This indicator is an excellent tool for traders looking to identify trend reversals based on solid technical criteria such as RSI, candle structure, and volume. It is particularly effective on volatile assets with precise volume adjustment.
Pine Script™ indicator
by imane-academy
RSI premium trend - CZ INDICATORSThe indicator draws swings on candlesticks based on price action and RSI. You can also see in the labels whether the current swing is higher or lower relative to the previous swing. Ideal for working together with premium structure HH stands for Higher High LL stands for Lower Low LH stands for Lower High HL stands for Higher High You can learn the designations of these phrases in our Telegram channel - t.me Индикатор рисует свинги на свечах, основываясь на ценовом действии и RSI. Также в метках можно увидеть, выше или ниже текущий свинг по отношению к предыдущему. Идеальный вариант для совместной работы с premium structure HH означает Higher High LL означает Lower Low LH означает Lower High HL означает Higher High Узнать обозначения данных фраз можно у нас в Телеграм канале - t.me Ссылка - t.me
Pine Script™ indicator
by CZ_INDICATORS
Marubozu and Strong Candle DetectorMarubozu and Strong Candle Detector - Indicator Description This TradingView Pine Script indicator identifies powerful price action signals by detecting two key candle types that can signal strong market momentum: What It Detects 1. Marubozu Candles: These are candles with little to no wicks, where the body makes up almost the entire candle. Marubozu means "bald head" or "shaved head" in Japanese, referring to the absence of shadows (wicks). o Bullish Marubozu: A green/up candle with minimal wicks, showing buyers controlled the entire session o Bearish Marubozu: A red/down candle with minimal wicks, showing sellers dominated the session 2. Strong Candles: These are candles that are significantly larger than the recent average, suggesting exceptional momentum. o Strong Bullish: Large green/up candles showing powerful buying pressure o Strong Bearish: Large red/down candles showing powerful selling pressure Trading Significance • Bullish Marubozu/Strong Bullish Candles: Often signal the beginning of bullish trends or strong continuation of existing uptrends. These can be excellent entry points for long positions. • Bearish Marubozu/Strong Bearish Candles: Often indicate the start of bearish trends or powerful continuation of existing downtrends. These can be good entry points for short positions or exit points for long positions. Key Features • Customizable Parameters: Adjust sensitivity for body ratio threshold and size comparison • Visual Indicators: Easy-to-spot markers appear on your charts • Information Display: Shows key metrics about the current candle • Alert System: Set notifications for when significant candles form How To Use This Indicator 1. For Entry Signals: o Look for bullish Marubozu/strong bullish candles at support levels or after pullbacks o Look for bearish Marubozu/strong bearish candles at resistance levels or after rallies 2. For Exit Signals: o Consider taking profits on long positions when bearish Marubozu/strong bearish candles appear o Consider taking profits on short positions when bullish Marubozu/strong bullish candles appear 3. For Trend Confirmation: o Multiple signals in the same direction strengthen the case for a trend This indicator works best on larger timeframes (1H, 4H, Daily) where candle formations have more significance, but can be applied to any timeframe based on your trading style.
Pine Script™ indicator
by ShirishShringare
Accurate Trend IndicatorAccurate Trend Indicator The Accurate Trend Indicator is a powerful trend-following tool designed to help traders identify optimal buy and sell opportunities with precision. Based on the Supertrend algorithm, this indicator dynamically tracks market trends and provides clear entry and exit signals. Features: ✅ Supertrend-Based Signals – Uses ATR (Average True Range) to determine trend direction. ✅ Buy & Sell Alerts – Displays green "BUY" labels and red "SELL" labels when trend changes. ✅ Color-Coded Candles – Bullish candles turn green, and bearish candles turn red for better visualization. ✅ Works on Any Market – Compatible with Forex, Stocks, Crypto, and Commodities. ✅ Customizable Inputs – Adjust the ATR length and multiplier to fit your trading strategy. How It Works: A BUY signal appears when the price crosses above the Supertrend line. A SELL signal appears when the price crosses below the Supertrend line. Candle colors change based on trend direction to enhance clarity. This indicator is ideal for traders who want a simple yet effective tool to follow market trends and make informed decisions. 🚀 Try it now and enhance your trading strategy! 🚀
Pine Script™ indicator
by ab2011ab
Manipulation CandleMC Indicator – Spot Market Manipulation Like a Pro! 🎯✨ This Manipulation Candle (MC) Indicator helps traders detect price manipulation patterns based on FundedBrothers’ methodology. It identifies bullish and bearish manipulation candles, as well as their attempted versions, allowing traders to better understand market moves. What It Does: 🔹 Highlights Bullish MCs (Green 🟢) – Signals potential upward manipulation 🔹 Highlights Bearish MCs (Red 🔴) – Signals potential downward manipulation 🔹 Marks Attempted bullish and bearish MCs with a purple A🟣 and directional arrow ⬆️⬇️🟣 🔹 Alerts Included – Stay informed in real-time when manipulation occurs 🔹 Custom Markers – Easy-to-read symbols for clear market insights This indicator is a must-have for traders looking to capitalise on smart money movements and avoid market traps. 🛠️ Created by @iulipedia 📈 TradingView v5 Compatible 🚀 Add this to your chart and stay ahead of market moves!
Pine Script™ indicator
by iulipedia
Whale Activity Indicator (WAI)Overview The Whale Activity Indicator (WAI) is designed to detect institutional accumulation, dark pool trades, and high-volume transactions that often precede major price moves. By analyzing volume spikes, On-Balance Volume (OBV), and the Money Flow Index (MFI), this indicator identifies potential whale buy and sell zones, providing traders with an edge in spotting large player activity. How It Works 1️⃣ Institutional & Dark Pool Volume Detection 🔹 Large financial institutions and hedge funds often execute trades in dark pools or through block trades to prevent price slippage. 🔹 The indicator compares the current volume to predefined institutional and dark pool volume thresholds to determine if a trade is large enough to be considered whale activity. 🛠 Calculation: If the total volume exceeds the Dark Pool Volume Threshold, it’s flagged as a dark pool trade. If the total volume exceeds the Institutional Volume Threshold, it’s flagged as an institutional trade. 2️⃣ Volume Spike Detection 🔹 A sudden spike in trading volume relative to historical averages often signals the presence of institutional traders. 🔹 Instead of using a strict Z-score, this indicator detects volume spikes based on a rolling percentile threshold to ensure better adaptability across different assets. 🛠 Calculation: Computes the Simple Moving Average (SMA) of volume over a period. Defines a volume spike as any bar where the volume is 1.5× above the SMA (adjustable for sensitivity). 3️⃣ Trend Confirmation Using OBV & MFI 🔹 Institutions rarely trade against the trend, so additional validation is done using On-Balance Volume (OBV) and the Money Flow Index (MFI). 🛠 Calculation: OBV (On-Balance Volume): Measures buying and selling pressure. A rising OBV suggests accumulation, while a falling OBV suggests distribution. MFI (Money Flow Index): Confirms whether the volume is being accompanied by price movement, filtering out false signals. 🔹 BUY Signal: When OBV & MFI are both rising, it confirms institutional accumulation. 🔹 SELL Signal: When OBV & MFI are both falling, it confirms institutional distribution. Signals & Visualization 📊 Plots: ✅ Green Up Label (Whale Buy) → Indicates institutional accumulation and potential price increase. ❌ Red Down Label (Whale Sell) → Indicates institutional distribution and potential price drop. 📉 Volume Histogram & Threshold Line → Helps visualize volume spikes relative to historical levels. How to Use It in Trading ✔ Use this indicator on highly liquid assets (e.g., SPY, AAPL, NVDA) for best results. ✔ Combine with options flow analysis for deeper insight into institutional positioning. ✔ Adjust volume thresholds based on the asset’s liquidity and average trading volume. ✔ Backtest with different sensitivity levels to find optimal settings for your strategy. 🔔 Optional Add-ons: Alerts can be added to notify traders of significant whale movements in real time!
Pine Script™ indicator
by TheSigmaMentor
Order Block Signals//@version=5 indicator("Order Block Signals", overlay=true, max_lines_count=500, max_labels_count=500) // Inputs OB_Threshold = input.float(0.001, "OB Threshold (%)", step=0.001) / 100 Lookback = input.int(200, "Lookback Period") min_diff = input.float(1.0, "Min Candle %", step=0.1) max_diff = input.float(1.2, "Max Candle %", step=0.1) tp_percent = input.float(1.3, "Take Profit %", step=0.1) / 100 sl2_percent = input.float(1.3, "Second SL %", step=0.1) / 100 // Order Block Detection var float highRange = na var float lowRange = na highRange := ta.highest(high, Lookback) lowRange := ta.lowest(low, Lookback) Buy_OB = low >= lowRange * (1 - OB_Threshold) and low <= lowRange * (1 + OB_Threshold) Sell_OB = high >= highRange * (1 - OB_Threshold) and high <= highRange * (1 + OB_Threshold) // Candle Filter candle_diff = ((high - low) / low) * 100 valid_candle = candle_diff >= min_diff and candle_diff <= max_diff // Signal Generation Buy_Signal = Buy_OB and valid_candle Sell_Signal = Sell_OB and valid_candle // Remove Excess Signals var int lastSignal = 0 Buy_Signal := Buy_Signal and lastSignal <= 0 Sell_Signal := Sell_Signal and lastSignal >= 0 if Buy_Signal lastSignal := 1 else if Sell_Signal lastSignal := -1 // Price Levels var float entryPrice = na var float slPrice = na var float tpPrice = na var float sl2Price = na if Buy_Signal entryPrice := high slPrice := low tpPrice := entryPrice * (1 + tp_percent) sl2Price := slPrice * (1 - sl2_percent) else if Sell_Signal entryPrice := low slPrice := high tpPrice := entryPrice * (1 - tp_percent) sl2Price := slPrice * (1 + sl2_percent) // Plotting plot(entryPrice, "Entry", color.new(color.green, 0), 2) plot(slPrice, "SL", color.new(color.red, 0), 2) plot(tpPrice, "TP", color.new(color.blue, 0), 2) plot(sl2Price, "SL2", color.new(color.orange, 0), 2) // Enhanced Signal Markers plotshape(Buy_Signal, style=shape.square, location=location.belowbar, color=color.new(color.green, 0), size=size.tiny, offset=-40) plotshape(Buy_Signal, style=shape.square, location=location.belowbar, color=color.new(color.lime, 0), size=size.tiny, offset=-50) plotshape(Buy_Signal, style=shape.triangleup, location=location.belowbar, color=color.new(color.white, 0), size=size.small, offset=-45) plotshape(Sell_Signal, style=shape.square, location=location.abovebar, color=color.new(color.red, 0), size=size.tiny, offset=40) plotshape(Sell_Signal, style=shape.square, location=location.abovebar, color=color.new(color.orange, 0), size=size.tiny, offset=50) plotshape(Sell_Signal, style=shape.triangledown, location=location.abovebar, color=color.new(color.white, 0), size=size.small, offset=-45) // Order Block Zones bgcolor(Buy_OB ? color.new(color.green, 90) : na) bgcolor(Sell_OB ? color.new(color.red, 90) : na) // Dynamic Lines var line entryLine = na var line slLine = na var line tpLine = na var line sl2Line = na if Buy_Signal or Sell_Signal entryLine := line.new(bar_index, entryPrice, bar_index+1, entryPrice, color=color.green, width=2) slLine := line.new(bar_index, slPrice, bar_index+1, slPrice, color=color.red, width=2) tpLine := line.new(bar_index, tpPrice, bar_index+1, tpPrice, color=color.blue, width=2) sl2Line := line.new(bar_index, sl2Price, bar_index+1, sl2Price, color=color.orange, width=2) //@version=5 indicator("Order Block Signals - Exclusive & Dynamic", overlay=true, max_lines_count=500) // Inputs Lookback = input.int(200, "Lookback Period") min_diff = input.float(1.0, "Min Candle %", step=0.1) max_diff = input.float(1.2, "Max Candle %", step=0.1) tp_percent = input.float(1.3, "Take Profit %", step=0.1) / 100 sl2_percent = input.float(1.3, "Second SL %", step=0.1) / 100 // Order Block Detection var float highRange = na var float lowRange = na highRange := ta.highest(high, Lookback) lowRange := ta.lowest(low, Lookback) Buy_OB = low >= lowRange * (1 - OB_Threshold) and low <= lowRange * (1 + OB_Threshold) Sell_OB = high >= highRange * (1 - OB_Threshold) and high <= highRange * (1 + OB_Threshold) // Candle Filter candle_diff = ((high - low) / low) * 100 valid_candle = candle_diff >= min_diff and candle_diff <= max_diff // Signal Generation with Mutual Exclusivity var int lastSignal = 0 // -1 = Sell active, 0 = Neutral, 1 = Buy active var float entryPrice = na var float slPrice = na var float tpPrice = na var float sl2Price = na Buy_Signal = false Sell_Signal = false // Check for new signals if Buy_OB and valid_candle and lastSignal <= 0 Buy_Signal := true lastSignal := 1 entryPrice := high slPrice := low tpPrice := entryPrice * (1 + tp_percent) sl2Price := slPrice * (1 - sl2_percent) else if Sell_OB and valid_candle and lastSignal >= 0 Sell_Signal := true lastSignal := -1 entryPrice := low slPrice := high tpPrice := entryPrice * (1 - tp_percent) sl2Price := slPrice * (1 + sl2_percent) // Check for TP/SL hit to reset signals if lastSignal == 1 and (high >= tpPrice or low <= slPrice) lastSignal := 0 entryPrice := na slPrice := na tpPrice := na sl2Price := na else if lastSignal == -1 and (low <= tpPrice or high >= slPrice) lastSignal := 0 entryPrice := na slPrice := na tpPrice := na sl2Price := na // Plotting plot(entryPrice, "Entry", color.new(color.green, 0), 2, linewidth=2) plot(slPrice, "SL", color.new(color.red, 0), 2, linewidth=2) plot(tpPrice, "TP", color.new(color.blue, 0), 2, linewidth=2) plot(sl2Price, "SL2", color.new(color.orange, 0), 2, linewidth=2) // Signal Markers plotshape(Buy_Signal, style=shape.triangleup, location=location.belowbar, color=color.new(color.green, 0), size=size.normal, text="BUY", textcolor=color.white) plotshape(Sell_Signal, style=shape.triangledown, location=location.abovebar, color=color.new(color.red, 0), size=size.normal, text="SELL", textcolor=color.white) // Order Block Zones bgcolor(Buy_OB ? color.new(color.green, 90) : na, title="Buy OB Zone") bgcolor(Sell_OB ? color.new(color.red, 90) : na, title="Sell OB Zone") // Dynamic Lines for TP/SL var line entryLine = na var line slLine = na var line tpLine = na var line sl2Line = na if Buy_Signal or Sell_Signal entryLine := line.new(bar_index, entryPrice, bar_index + 1, entryPrice, color=color.new(color.green, 0), width=2) slLine := line.new(bar_index, slPrice, bar_index + 1, slPrice, color=color.new(color.red, 0), width=2) tpLine := line.new(bar_index, tpPrice, bar_index + 1, tpPrice, color=color.new(color.blue, 0), width=2) sl2Line := line.new(bar_index, sl2Price, bar_index + 1, sl2Price, color=color.new(color.orange, 0), width=2) // Clear lines when position is closed if lastSignal == 0 line.delete(entryLine) line.delete(slLine) line.delete(tpLine) line.delete(sl2Line)
Pine Script™ indicator
by chhayanidhaval
اندیکاتور پیشرفته برای تایم فریم‌های کوتاهCertainly! Below is a description of your custom indicator in English that you can share: --- **Introducing My Custom Indicator for Forex and Metals Markets** I have developed a custom indicator designed to perform exceptionally well on the 5-minute time frame in the Forex and metals markets. This indicator is the result of extensive research and testing, tailored to capture key market movements and provide actionable insights for traders. **Key Features:** - **Optimized for 5-Minute Time Frame:** The indicator is specifically calibrated for the 5-minute chart, making it ideal for short-term trading strategies. - **Versatile Application:** It works effectively across major currency pairs (Forex) and precious metals like gold and silver. - **Clear Signals:** The indicator generates precise buy/sell signals, helping traders identify potential entry and exit points with confidence. - **User-Friendly:** Designed with simplicity in mind, it is easy to integrate into your trading platform and interpret its signals. **Why This Indicator?** - **Proven Performance:** Backtested and refined to deliver consistent results in fast-moving markets. - **Adaptive to Market Conditions:** It adjusts to varying market volatility, ensuring reliability across different trading sessions. - **Time-Saving:** Automates the analysis process, allowing traders to focus on execution rather than complex calculations. Whether you're a day trader or a scalper, this indicator can be a valuable addition to your trading toolkit. Try it out and experience the difference it can make in your trading performance! --- Feel free to customize this description further to match your specific needs or add more technical details if required. Good luck with your indicator! 🚀
Pine Script™ indicator
by a81mhn
Heikin Horizon v8.4 by hajiHeikin Horizon v8.4 by haji Heikin Horizon v8.4 is an advanced, multi-timeframe TradingView indicator that integrates sophisticated Heikin Ashi analysis with dynamic pattern recognition, comprehensive backtesting statistics, and an intuitive trade helper module. Designed for advanced traders, this all-in-one tool provides a detailed, top‐down view of market trends alongside actionable insights to refine your trading strategy. Key Features: Multi-Timeframe Heikin Ashi Analysis: Leverages Heikin Ashi data from a wide range of timeframes—from intraday (1-second, 1-minute, etc.) to daily charts—to offer a comprehensive picture of market momentum and trend direction. Dynamic Trend Pattern Recognition: Automatically identifies and displays current, previous, or custom candlestick patterns based on the color-coded Heikin Ashi candles. Visual trend squares and detailed tables help you quickly assess market conditions and potential shifts. Robust Backtesting and Statistical Insights: Runs extensive historical tests over user-defined samples, calculating key performance metrics such as win rate, expected value, average price change, and more. Detailed outcome tables break down all possible results, enabling you to evaluate the effectiveness of each pattern. Comprehensive Trade Helper Module: Provides trade direction bias (BUY/SELL) based on multiple factors—including expected move, win rate, profit factor, and trend consistency—while offering both manual and automatic risk management for setting stop loss and take profit levels. Customizable On-Screen Display: Multiple, configurable tables (pattern display, previous trends, multi-timeframe analysis, outcomes, detailed history, and trade helper) allow you to tailor the visual layout to your specific needs and preferred chart positions. Access Control for Advanced Features: A built-in locking mechanism secures advanced functionalities, ensuring that only users with the proper access password can activate sensitive settings. How It Works: Heikin Horizon v8.4 continuously processes Heikin Ashi data across multiple timeframes to generate a layered analysis of market trends. By comparing candle colors and patterns, it identifies consolidation areas and trend shifts, then quantifies these observations through rigorous backtesting. The resulting statistics—ranging from win rate and average candle sizes to expected move calculations—feed into a trade helper module that highlights potential trade setups and risk parameters, all displayed via customizable on-chart panels. Whether you’re fine-tuning your short-term entries or developing a robust long-term strategy, Heikin Horizon v8.4 delivers an in-depth analytical framework to help you make more informed trading decisions.
Pine Script™ indicator
by elicruz2380
Color Code Overlay StrategyColor Code Overlay Strategy This strategy utilizes a custom color-coded overlay to provide accurate buy and sell signals based on dynamic color changes of the candles. The indicator works by calculating a color shift between bullish (green) and bearish (red) candles, with the color change logic driven by both price movement and volatility. How the Color Change is Calculated: The color change is determined by comparing the closing price relative to the opening price of each candle, as is typical with a traditional bullish or bearish candle. However, to make this strategy more adaptive to market conditions, the color change is further refined by incorporating the Average True Range (ATR). Volatility Adjusted Color Shift: The strategy calculates a dynamic threshold based on the ATR value, which represents market volatility. If the price movement between the open and close of the candle exceeds a specific percentage of the ATR, the color of the candle shifts from red (bearish) to green (bullish) or vice versa. Threshold Calculation: A fixed percentage (e.g., 1%) of the ATR range is used to define the minimum price movement required for a color change. This ensures that only significant price movements, adjusted for volatility, trigger the color shift. The larger the ATR (higher volatility), the greater the price movement required to cause a change in color. Bullish to Bearish (Green to Red): When the candle closes lower than the open, and the price movement exceeds the dynamic threshold based on ATR, the candle color changes from green to red, signaling a potential bearish reversal. Bearish to Bullish (Red to Green): When the candle closes higher than the open, and the price movement exceeds the ATR-based threshold, the candle color shifts from red to green, signaling a potential bullish reversal. Key Features: Dynamic Color Change: The strategy identifies key color changes from bullish to bearish (green to red) and from bearish to bullish (red to green) based on specific thresholds in candle size. Customizable Timeframe: You can specify a custom trading window to restrict the strategy’s actions to specific hours of the day. Stop Loss and Take Profit: The strategy incorporates risk management features, allowing you to set a stop loss and take profit based on the price in pips. Flexible Trade Types: Choose between "Both" (long and short), "Long Only," or "Short Only" trading options to suit your preferred trading style. Visual Alerts: Receive visual alerts with arrows when color changes occur, signaling potential trade opportunities. Green arrows indicate a bullish shift, while red arrows show a bearish shift. This strategy is ideal for traders who prefer a color-coded overlay to easily visualize price action and make informed decisions based on bullish or bearish trends. Whether you’re looking for quick, short-term opportunities or analyzing market reversals, this strategy offers an intuitive approach to identifying trade signals.
Pine Script™ strategy
by brownd2876
Color Code OverlayColor Code Overlay Indicator The Color Code Overlay indicator is designed to provide a dynamic visualization of price action using color-coded candles. This overlay highlights trend reversals and bullish/bearish conditions by utilizing a custom candle calculation and the Average True Range (ATR) percentage threshold to detect significant price changes. Key Features: Custom Candle Calculation: The Color Code Overlay is based on a modified candlestick calculation that takes the average of the open, high, low, and close prices to determine the candle’s close value. The open value is derived from the midpoint of the current candle's open and close or the previous Color Code Overlay close. The high and low values are based on the highest and lowest prices between the open, close, and the actual market high/low. Color-Coding: Green: The candle is colored green when the close is higher than the open, indicating a bullish trend. Red: The candle is colored red when the close is lower than the open, indicating a bearish trend. Color Change Detection: The indicator detects significant color changes, signaling trend reversals. The transitions are determined based on the following conditions: A bullish to bearish change (green to red) is identified when the current candle's close is lower than the open, and the price difference exceeds 1% of the candle's range (calculated using the current candle's high and low). A bearish to bullish change (red to green) occurs when the current candle’s close is higher than the open, and the price difference also exceeds 1% of the candle's range. Threshold Calculation: The dynamic threshold for detecting significant price changes is based on the ATR percentage of the candle's range. By default, the indicator uses 1% of the range for detecting meaningful price movement. This ensures that only substantial changes trigger the color shifts, providing clear signals for potential trend reversals or market momentum. Arrows for Color Changes: A red triangle down is plotted above the bar when the color changes from green to red (bullish to bearish). A green triangle up is plotted below the bar when the color changes from red to green (bearish to bullish). Alerts: The indicator includes alert conditions that notify you when: The price is bullish (green candle). The price is bearish (red candle). There is a change from green to red (bullish to bearish). There is a change from red to green (bearish to bullish). How It Works: The Color Code Overlay dynamically calculates the candle values based on market data and applies the ATR-based threshold to identify color changes. A shift from bullish to bearish or vice versa is only triggered when the price moves significantly beyond the calculated threshold, helping to avoid false signals from minor price fluctuations. This indicator is particularly useful for traders looking to spot trend reversals and significant market shifts with a clear, color-coded visual representation of price action. The Color Code Overlay can be used alongside other technical indicators to enhance decision-making and improve trading strategies.
Pine Script™ indicator
by brownd2876
Sweep and Reversal IndicatorLiquidity Sweep Detection Identifies a wick that sweeps a recent high (for shorts) or low (for longs). Looks for a quick rejection, meaning the price should return inside the range. Confirmation of Reversal The entry signal will be generated when a candle closes back inside the range after the sweep. Entry & Stop-loss Markers Entry at the close of the confirmation candle. Stop-loss above the recent high (for shorts) or below the recent low (for longs).
Pine Script™ indicator
by sunilkirar846052
Gold Trading Signal//@version=5 indicator("Gold Trading Signal", overlay=true) // Input parameter emaLength = input(200, title="EMA Length") // Calculate EMA ema200 = ta.ema(close, emaLength) // Buy & Sell Conditions buyCondition = ta.crossover(close, ema200) sellCondition = ta.crossunder(close, ema200) // Plot signals plot(ema200, title="EMA 200", color=color.blue, linewidth=2) plotshape(buyCondition, location=location.belowbar, color=color.green, style=shape.labelup, title="BUY") plotshape(sellCondition, location=location.abovebar, color=color.red, style=shape.labeldown, title="SELL") // Alerts alertcondition(buyCondition, title="Buy Signal", message="Gold Buy Signal") alertcondition(sellCondition, title="Sell Signal", message="Gold Sell Signal")
Pine Script™ indicator
by evan88
3cfThis indicator identifies and signals the points of swing highs and swing lows on the price chart using an algorithm based on market structure. Local highs and lows are highlighted with a colored dot, making it easier to perform technical analysis and recognize trend reversals. The indicator analyzes a predefined number of bars (e.g., 5 candles) to determine relative highs and lows: Swing High (Local High) → The current candle has a higher high compared to the previous and subsequent candle. Swing Low (Local Low) → The current candle has a lower low compared to the previous and subsequent candle. When a candle meets one of these conditions, a visual dot is placed to indicate the potential reversal point.
Pine Script™ indicator
by propersage
1