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Candlestick analysis

Previous Day Levels (High, Low, Open, Close)This TradingView Pine Script indicator plots the previous day’s price levels (High, Low, Open, and Close) as horizontal rays that extend across the current trading day. Green lines mark the Previous Day High and Previous Day Low. Yellow lines mark the Previous Day Open and Previous Day Close. Labels are automatically displayed at the right edge of the chart, positioned above each line, making it easy to identify the corresponding level in real time. The levels are updated daily and always begin at the start of the current day, ensuring that they cover the entire intraday session. This tool helps traders quickly visualize key support and resistance levels from the previous trading day and incorporate them into intraday strategies.
Pine Script® indicator
by jorgeadrianvigu
1
9:45am NIFTY TRADINGTime Frame: 15 Minutes | Reference Candle Time: 9:45 AM IST | Valid Trading Window: 3 Hours 📌 Introduction This document outlines a structured trading strategy for NIFTY & BANKNIFTY Options based on a 15-minute timeframe with a 9:45 AM IST reference candle. The strategy incorporates technical indicators, probability analysis, and strict trading rules to optimize entries and exits. 📊 Core Features 1. Reference Time Trading System 9:45 AM IST Candle acts as the reference for the day. All signals (Buy/Sell/Reversal) are generated based on price action relative to this candle. The valid trading window is 3 hours after the reference candle. 2. Signal Generation Logic Signal Condition Buy (B) Price breaks above reference candle high with confirmation Sell (S) Price breaks below reference candle low with confirmation Reversal (R) Early trend reversal signal (requires strict confirmation) 3. Probability Analysis System The strategy calculates Win Probability (%) using 4 components: Component Weight Calculation Body Win Probability 30% Based on candle body strength (body % of total range) Volume Win Probability 30% Current volume vs. average volume strength Trend Win Probability 40% EMA crossover + RSI momentum alignment Composite Probability - Weighted average of all 3 components Probability Color Coding: 🟢 Green (High Probability): ≥70% 🟠 Orange (Medium Probability): 50-69% 🔴 Red (Low Probability): <50% 4. Timeframe Enforcement Strictly 15-minute charts only (no other timeframes allowed). System auto-disables signals if the wrong timeframe is selected. 📈 Technical Analysis Components 1. EMA System (Trend Analysis) Short EMA (9) – Fast trend indicator Middle EMA (20) – Intermediate trend Long EMA (50) – Long-term trend confirmation Rules: Buy Signal: Price > 9 EMA > 20 EMA > 50 EMA (Bullish trend) Sell Signal: Price < 9 EMA < 20 EMA < 50 EMA (Bearish trend) 2. Multi-Timeframe RSI (Momentum) 5M, 15M, 1H, 4H, Daily RSI values are compared for divergence/confluence. Overbought (≥70) / Oversold (≤30) conditions help in reversal signals. 3. Volume Analysis Volume Strength (%) = (Current Volume / Avg. Volume) × 100 Strong Volume (>120% Avg.) confirms breakout/breakdown. 4. Body Percentage (Candle Strength) Body % = (Close - Open) / (High - Low) × 100 Strong Bullish Candle: Body > 60% Strong Bearish Candle: Body < 40% 📊 Visual Elements 1. Information Tables Reference Data Table (9:45 AM Candle High/Low/Close) RSI Values Table (5M, 15M, 1H, 4H, Daily) Signal Legend (Buy/Sell/Reversal indicators) 2. Chart Overlays Reference Lines (9:45 AM High & Low) EMA Lines (9, 20, 50) Signal Labels (B, S, R) 3. Color Coding High Probability (Green) Medium Probability (Orange) Low Probability (Red) ⚠️ Important Usage Guidelines ✅ Best Practices: Trade only within the 3-hour window (9:45 AM - 12:45 PM IST). Wait for confirmation (closing above/below reference candle). Use probability score to filter high-confidence trades. ❌ Avoid: Trading outside the 15-minute timeframe. Ignoring volume & RSI divergence. Overtrading – Stick to 1-2 high-probability setups per day. 🎯 Conclusion This NIFTY Trading Strategy is optimized for 15-minute charts with a 9:45 AM IST reference candle. It combines EMA trends, RSI momentum, volume analysis, and probability scoring to generate high-confidence signals. 🚀 Key Takeaways: ✔ Reference candle defines the day’s bias. ✔ Probability system filters best trades. ✔ Strict 15M timeframe ensures consistency. Happy Trading! 📈💰
Pine Script® indicator
by linupro
1
Elite 30 Min Pivot - by TenAM Trader.🔍 How It Works Trend Detection: A trend is defined when a configurable number (default: 3) of same-colored candles (green or red) appear in a row. The pivot is marked by the first opposite-color candle after the trend. Signal Logic: After the pivot forms, the script watches the next few candles (default: 2) for a breakout or close beyond the pivot high/low. A BUY signal is triggered when price breaks/closes above a pivot high from a downtrend. A SELL signal is triggered when price breaks/closes below a pivot low from an uptrend. Entry & Risk Tools: Optional features include: Pivot Line – dashed level showing pivot entry point. Stop Loss Line – opposite side of the pivot candle. Labels – toggle labels for clarity on entry and risk. Time Filter – exclude signals during specific hours (e.g. 11 AM–2 PM) to avoid lunchtime chop. Alerts: Enable alerts for automated notifications when buy or sell conditions are met. ⚙️ Customizable Settings Consecutive candles required before pivot Max bars allowed after pivot for signal Signal trigger: Break or Close Toggle visibility of pivot lines, stop loss, and labels Set excluded time blocks Enable/disable real-time alerts ✅ Use Case Example If you set trend length to 3 and signal trigger to “Break,” the script will look for 3 consecutive red candles, then a green candle (pivot). If price breaks above the pivot high within the next 2 candles, a Buy signal will fire. ⚠️ Legal Note This script is provided for educational and informational purposes only and does not constitute financial advice. Always do your own research before making trading decisions. Use at your own risk.
Pine Script® indicator
by TenAM_Trader
Intraday Bullish Scanner - Profit Ping📊 Intraday Bullish Scanner – Profit Ping Only This custom-built TradingView script identifies high-probability intraday BUY signals on the 15-minute chart, confirmed by volume, momentum, and price action. It uses: ✅ EMA 7/14 crossovers ✅ Bullish candlestick patterns (Engulfing, Piercing, etc.) ✅ Volume spikes above 20-MA ✅ RSI between 55–65 ✅ MACD histogram flip from red to green ✅ Cross-confirmation with the 30-minute trend Once in a trade, it activates a dynamic trailing stop (starting at 2%, tightening to 1% as profit and volume increase). SELL signals are confirmed only with: ❌ MACD turning red ❌ Bearish RSI movement or drop below 50 ❌ EMA 7 crossing below EMA 14 ❌ A bearish candlestick (Engulfing or Piercing) ❌ Volume spike on a red candle 💰 When all SELL conditions align, a yellow triangle appears. BUYs are marked with a white triangle. Alerts can be connected directly to Python/webhook systems for full automation with IBKR.
Pine Script® indicator
by mill6soon
Railway Track Pattern - Nifty 50//@version=5 indicator("Railway Track Pattern - Nifty 50", overlay=true) // Settings bodyThreshold = input.float(0.8, title="Minimum Body Overlap (%)", minval=0.5, maxval=1.0) // Candle Body Sizes bodySize1 = math.abs(close - open ) bodySize2 = math.abs(close - open) // Candle Directions isBullishRail = close < open and close > open // Red followed by Green isBearishRail = close > open and close < open // Green followed by Red // Overlap Check (at least 80% body overlap) overlapLow = math.max(open , close ) overlapHigh = math.min(open , close ) overlapLow2 = math.max(open, close) overlapHigh2 = math.min(open, close) bodyOverlap = math.min(overlapHigh, overlapHigh2) - math.max(overlapLow, overlapLow2) minBodySize = math.min(bodySize1, bodySize2) overlapRatio = bodyOverlap / minBodySize railwayBullish = isBullishRail and overlapRatio >= bodyThreshold railwayBearish = isBearishRail and overlapRatio >= bodyThreshold // Plotting plotshape(railwayBullish, title="Bullish Railway", style=shape.labelup, location=location.belowbar, color=color.green, text="🚆 Buy") plotshape(railwayBearish, title="Bearish Railway", style=shape.labeldown, location=location.abovebar, color=color.red, text="🚆 Sell")
Pine Script® indicator
by jhancyblog
NAIFCHART_Algo Pro# NAIFCHART Algo Pro: Advanced Candlestick Pattern Analysis Tool ## Overview The NAIFCHART Algo Pro indicator represents an innovative approach to candlestick pattern analysis, combining traditional engulfing patterns with advanced technical filters. This indicator was developed and shared by the trading community at t.me focusing on high-probability reversal signals through multi-layered confirmation. ## Core Algorithm Components **Candle Stability Index**: Measures the ratio between candle body and total range (including wicks). Higher values indicate more decisive price action with stronger conviction. Default setting of 0.5 ensures only stable, well-formed candles generate signals, filtering out indecisive market conditions. **RSI Momentum Filter**: Utilizes 14-period RSI with customizable threshold (default 50) to confirm overbought/oversold conditions. Buy signals require RSI below the threshold, while sell signals need RSI above the inverse threshold, ensuring momentum alignment with pattern direction. **Candle Delta Analysis**: Examines price movement over a specified period (default 5 candles) to confirm directional bias. This filter ensures patterns occur after meaningful price moves in the opposite direction, increasing reversal probability. **Engulfing Pattern Recognition**: Identifies classic bullish and bearish engulfing formations where the current candle completely engulfs the previous candle's body, indicating potential momentum shift. ## Signal Generation Logic **Buy Signal Criteria**: - Bullish engulfing pattern formation - Candle stability above threshold level - RSI below specified threshold (oversold condition) - Price decrease over the delta length period - Confirmed bar state (prevents repainting) **Sell Signal Criteria**: - Bearish engulfing pattern formation - Candle stability above threshold level - RSI above inverse threshold (overbought condition) - Price increase over the delta length period - Confirmed bar state (prevents repainting) ## Advanced Features **Signal Filtering**: Optional "Disable Repeating Signals" feature prevents signal clusters by blocking consecutive identical signals. This enhances chart clarity and reduces noise in trending markets where multiple patterns might form in sequence. **Visual Customization**: Multiple label styles including text bubbles, triangles, and arrows with full color customization. Label sizes range from tiny to huge, allowing adaptation to different chart configurations and personal preferences. **Alert Integration**: Built-in alert system notifies traders immediately when buy or sell conditions are met, enabling real-time trade execution without constant chart monitoring. ## Implementation Strategy **Timeframe Optimization**: The indicator performs effectively across multiple timeframes, with higher timeframes (1-hour and above) providing more reliable signals due to reduced market noise. Shorter timeframes require more conservative position sizing due to increased false signal probability. **Parameter Tuning**: - Increase Candle Stability Index for more selective signals in volatile markets - Adjust RSI threshold based on market conditions (lower for trending markets, higher for ranging conditions) - Modify Candle Delta Length for different trend confirmation periods **Risk Management**: Combine signals with proper stop loss placement below/above the engulfing pattern's extreme points. Consider position sizing based on pattern strength and overall market context. ## Market Application **Reversal Trading**: Primary application focuses on identifying high-probability reversal points after extended moves. The multi-filter approach significantly reduces false signals compared to basic engulfing pattern strategies. **Trend Confirmation**: In trending markets, signals align with pullback completion, providing optimal entry points for trend continuation strategies. The RSI and delta filters help identify temporary retracements rather than trend changes. **Range Trading**: Within sideways markets, signals often occur near range boundaries, providing effective support and resistance bounce opportunities with clearly defined risk parameters. ## Performance Optimization **Market Selection**: The indicator performs best on liquid instruments with clear candlestick formations. Avoid extremely volatile or thin markets where patterns may be less reliable. **Session Timing**: Consider trading sessions when focusing on specific markets. Major session overlaps often provide clearer patterns due to increased participation and volume. **Confirmation Techniques**: While the indicator provides internal filtering, additional confirmation through volume analysis, key support/resistance levels, or broader market context enhances signal reliability. ## Community Resources Access ongoing strategy discussions and optimization techniques through the source community at t.me where traders share practical applications and parameter adjustments for different market conditions. The collaborative environment provides valuable insights into optimal settings for various trading styles and market environments, along with real-time feedback on signal quality and performance. ## Conclusion NAIFCHART Algo Pro offers a sophisticated approach to candlestick pattern trading through intelligent filtering and confirmation mechanisms. The indicator's strength lies in combining traditional pattern recognition with modern technical analysis filters, creating a robust framework for identifying high-probability reversal opportunities. Success with this tool requires understanding each component's role in signal generation and adapting parameters to match current market conditions and personal trading style. The community-driven development ensures practical relevance and ongoing refinement based on real trading experiences. Practice with demo accounts to develop familiarity with signal timing and optimal parameter settings before live implementation. The indicator's systematic approach provides clear entry signals while maintaining flexibility for different risk management and position sizing strategies.
Pine Script® indicator
by Mutanabby_AI
MJBFX-Strategy (Futures Optimized)The MJBFX-Strategy is a complete market mapping tool designed to give traders a clear view of liquidity, session dynamics, and premium/discount levels. It loads automatically on any chart, fully optimized for futures and forex trading. 🔑 Key Features Asian Session Range Highlights the previous Asian session with a shaded box Fixed until London open for precise reference VWAP from Asian Session Plots the VWAP of the previous Asian session Dynamic fair value benchmark for intraday trading Liquidity Sweeps (Optimized) Detects sweeps of the Asian session high/low Shown only on 30m, 1h, and 4h charts to reduce noise Clean, minimal labels for clarity Automatic Fibonacci Zone Draws a shaded retracement zone (38.2%–61.8%) of the Asian range Transparent fill makes it easy to read price action Killzones Highlights London (07:00–10:00) and New York (13:00–16:00) killzones Semi-opaque shading to keep charts clean Auto Trade Box (Risk/Reward) On sweep confirmation, plots a 2R target box Auto stop loss and take profit levels based on futures tick size 🎯 Why Use It? The MJBFX-Strategy removes the need for manual drawing.It automatically maps: Session highs and lows Liquidity sweeps VWAP and fib retracement zones Key killzones Perfect for session-based intraday trading in both futures and forex. ⚡ No manual settings required.Just load it onto your chart for an instant institutional view of the market.
Pine Script® indicator
by MJB-FX
FRX_FORTUNE - EMA 9/15 Crossover Alert//@version=5 indicator("FRX_FORTUNE - EMA 9/15 Crossover Alert", overlay=true) // === INPUTS === fastEmaLength = input.int(9, title="Fast EMA (9)") slowEmaLength = input.int(15, title="Slow EMA (15)") showArrows = input.bool(true, title="Show Buy/Sell Arrows") enableAlerts = input.bool(true, title="Enable Alerts") // === CALCULATIONS === fastEma = ta.ema(close, fastEmaLength) slowEma = ta.ema(close, slowEmaLength) bullishCross = ta.crossover(fastEma, slowEma) bearishCross = ta.crossunder(fastEma, slowEma) // === PLOT EMA === plot(fastEma, title="EMA 9", color=color.orange) plot(slowEma, title="EMA 15", color=color.blue) // === DRAW ARROWS === plotshape(bullishCross and showArrows, location=location.belowbar, color=color.green, style=shape.labelup, text="BUY", size=size.small) plotshape(bearishCross and showArrows, location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL", size=size.small) // === ALERTS === alertcondition(bullishCross, title="Buy Alert", message="BUY: EMA 9 crossed above EMA 15") alertcondition(bearishCross, title="Sell Alert", message="SELL: EMA 9 crossed below EMA 15")
Pine Script® indicator
by jagesh2508
Pinbar DetectorPinbar Detector is original from Naked Candlestick Trading Method Pinbar Definition: A candlestick where the dominant shadow exceeds 2/3 of the entire candle length Key Features: Bearish Pinbar: Red downward triangle when upper shadow exceeds 2/3 of total candle length Bullish Pinbar: Green upward triangle when lower shadow exceeds 2/3 of total candle length Background highlighting for easy identification Alert conditions for both bullish and bearish pinbars Original candlestick display preserved
Pine Script® indicator
by badao1
MJBFX VWAP WITH SIGNALSThe MJBFX VWAP Channel is a custom-built volume-weighted average price indicator designed around the MJBFX trading methodology. This tool tracks multiple rolling VWAPs anchored to a user-defined timeframe (default: 1H), then calculates percentile levels (Max, Upper, Median, Lower, Min) to create a dynamic channel. These levels act as key support and resistance zones that adapt to market conditions. 🔶 Features: Adjustable anchor period and VWAP count (up to 500 VWAPs) Percentile-based VWAP levels (Max, Upper, Median, Lower, Min) Customisable colours, widths, and line styles Optional gradient channel fills Anchor period highlights for session awareness MJBFX Branded Signals: 🟠 Buy – Triggered when price crosses above the lower VWAP (MJBFX Orange) ⚪ Sell – Triggered when price crosses below the upper VWAP (MJBFX Grey) Built-in alert conditions for automated trade notifications 🔶 How to Use: The VWAP channel provides a dynamic structure for intraday trading. Buy opportunities often occur when price sweeps below the lower band and reclaims it. Sell opportunities often occur when price sweeps above the upper band and rejects. Use in confluence with market structure, session timing, and your trading plan (e.g., MJB-FX Asian Sweep strategy).
Pine Script® indicator
by MJB-FX
1
Breakout + Retest StrategyThe Breakout + Retest Strategy is a proven price action approach used by professional traders to catch high-probability market moves after key levels are broken. This strategy aims to enter the market after confirmation — reducing false breakouts and improving entry accuracy. 🔍 Strategy Logic: Identify a Key Support or Resistance Level These could be recent swing highs/lows, consolidation zones, or session highs. Wait for a Clean Breakout Price must decisively break above resistance or below support with strong momentum. Watch for the Retest After the breakout, wait for the price to pull back to the broken level (now flipped support/resistance). Enter on Retest Confirmation Look for signs like rejection wicks, bullish/bearish engulfing candles, or strong volume on the retest. Set Risk-Managed Stops and Targets Stop loss goes below (for long) or above (for short) the retested level. Target is usually set at a 1:2 or higher risk-to-reward ratio, or based on structure. ✅ Why It Works: Filters out fake breakouts Uses market structure and liquidity traps to your advantage Combines both momentum and confirmation ⚙️ Best Timeframes: 15-minute to 1-hour for intraday setups 4-hour and daily for swing trades 📊 Ideal for: Futures (NQ, ES, Gold) Forex pairs Crypto Stocks near key earnings or breakout zones
Pine Script® indicator
by aaroncaine535
🕴 Rajnikanth Divergence Tool//@version=5 indicator("🕴 Rajnikanth Divergence Tool", overlay=true) // === INPUTS === useRSI = input.bool(true, "Enable RSI Divergence") useMACD = input.bool(true, "Enable MACD Divergence") showLabels = input.bool(true, "Show Divergence Labels") showHLines = input.bool(true, "Show Horizontal Lines") showConnLines = input.bool(true, "Show Connecting Lines") rsiSource = input.source(close, "RSI Source") rsiLength = input.int(14, "RSI Length") macdSrc = input.source(close, "MACD Source") macdFast = input.int(12, "MACD Fast Length") macdSlow = input.int(26, "MACD Slow Length") macdSig = input.int(9, "MACD Signal Smoothing") volFilter = input.bool(true, "Use Volume Filter") volLen = input.int(20, "Volume MA Length") // === CALCULATIONS === rsi = ta.rsi(rsiSource, rsiLength) = ta.macd(macdSrc, macdFast, macdSlow, macdSig) macdHist = macdLine - signalLine volMA = ta.sma(volume, volLen) volOk = not volFilter or volume > volMA // === TRACKING VARIABLES (Fixed typing) var float lastLowPrice = na var float lastLowRSI = na var float lastLowMACD = na var int lastLowBar = na var float lastHighPrice = na var float lastHighRSI = na var float lastHighMACD = na var int lastHighBar = na // === DIVERGENCE FLAGS === bullDivRSI = false bearDivRSI = false revBullDivRSI = false revBearDivRSI = false bullDivMACD = false bearDivMACD = false revBullDivMACD = false revBearDivMACD = false // === FUNCTION TO DRAW DIVERGENCES === plotDivergence(cond, labelText, location, color_, price, fromBar) => if cond and volOk if showLabels label.new(bar_index, price, labelText, style=label.style_label_left, textcolor=color.white, size=size.small, color=color_) if showHLines line.new(bar_index, price, bar_index + 5, price, color=color_, width=1) if showConnLines and not na(fromBar) line.new(fromBar, price, bar_index, price, color=color_, width=1) // === DETECT BOTTOMS === if ta.lowestbars(low, 3) == 1 if useRSI and not na(lastLowRSI) bullDivRSI := (low < lastLowPrice) and (rsi > lastLowRSI) revBullDivRSI := (low > lastLowPrice) and (rsi < lastLowRSI) if useMACD and not na(lastLowMACD) bullDivMACD := (low < lastLowPrice) and (macdHist > lastLowMACD) revBullDivMACD := (low > lastLowPrice) and (macdHist < lastLowMACD) lastLowPrice := low lastLowRSI := rsi lastLowMACD := macdHist lastLowBar := bar_index // === DETECT TOPS === if ta.highestbars(high, 3) == 1 if useRSI and not na(lastHighRSI) bearDivRSI := (high > lastHighPrice) and (rsi < lastHighRSI) revBearDivRSI := (high < lastHighPrice) and (rsi > lastHighRSI) if useMACD and not na(lastHighMACD) bearDivMACD := (high > lastHighPrice) and (macdHist < lastHighMACD) revBearDivMACD := (high < lastHighPrice) and (macdHist > lastHighMACD) lastHighPrice := high lastHighRSI := rsi lastHighMACD := macdHist lastHighBar := bar_index // === PLOTS === plotDivergence(bullDivRSI, "RSI Bull Div", location.belowbar, color.green, low, lastLowBar) plotDivergence(bearDivRSI, "RSI Bear Div", location.abovebar, color.red, high, lastHighBar) plotDivergence(revBullDivRSI, "RSI RevBull", location.belowbar, color.lime, low, lastLowBar) plotDivergence(revBearDivRSI, "RSI RevBear", location.abovebar, color.orange, high, lastHighBar) plotDivergence(bullDivMACD, "MACD Bull Div", location.belowbar, color.navy, low, lastLowBar) plotDivergence(bearDivMACD, "MACD Bear Div", location.abovebar, color.maroon, high, lastHighBar) plotDivergence(revBullDivMACD, "MACD RevBull", location.belowbar, color.blue, low, lastLowBar) plotDivergence(revBearDivMACD, "MACD RevBear", location.abovebar, color.purple, high, lastHighBar) // === ALERT CONDITIONS === alertcondition(bullDivRSI, "RSI Bullish Divergence", "RSI Bullish Divergence detected") alertcondition(bearDivRSI, "RSI Bearish Divergence", "RSI Bearish Divergence detected") alertcondition(revBullDivRSI, "RSI Reverse Bullish", "RSI Reverse Bullish Divergence detected") alertcondition(revBearDivRSI, "RSI Reverse Bearish", "RSI Reverse Bearish Divergence detected") alertcondition(bullDivMACD, "MACD Bullish Divergence", "MACD Bullish Divergence detected") alertcondition(bearDivMACD, "MACD Bearish Divergence", "MACD Bearish Divergence detected") alertcondition(revBullDivMACD, "MACD Reverse Bullish", "MACD Reverse Bullish Divergence detected") alertcondition(revBearDivMACD, "MACD Reverse Bearish", "MACD Reverse Bearish Divergence detected")
Pine Script® indicator
by rdrajnikanth
Engulfing DashboardThis is an indicator that detects candles based on the **Engulfing system** I’ve studied — from **wick to wick**. It determines whether it’s a Buy or Sell based on the **opening price** and how the candle moves. Anyone familiar with the Engulfing system will know how to use it. It’s especially useful for people who use only **one screen** and can’t constantly monitor multiple timeframes. And don’t forget: **Trend is your friend.**
Pine Script® indicator
by Idealadvantage