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Candle Range % vs 8-Candle Avg
Candle % Indicator – Measure Candle Strength by Range %
**Overview:**
The *Candle % Indicator* helps traders visually and analytically gauge the strength or significance of a price candle relative to its recent historical context. This is particularly useful for detecting breakout moves, volatility shifts, or overextended candles that may signal exhaustion.
**What It Does:**
* Calculates the **percentage range** of the current candle compared to the **average range of the past N candles**.
* Highlights candles that exceed a user-defined threshold (e.g., 150% of the average range).
* Useful for **filtering out extreme candles** that might represent anomalies or unsustainable moves.
* Can be combined with other strategies (like EMA crossovers, support/resistance breaks, etc.) to improve signal quality.
**Use Case Examples:**
***Filter out fakeouts** in breakout strategies by ignoring candles that are overly large and may revert.
***Volatility control**: Avoid entries when market conditions are erratic.
**Confluence**: Combine with EMA or RSI signals for refined entries.
**How to Read:**
* If a candle is larger than the average range by more than the set percentage (default 150%), it's flagged (e.g., no entry signal or optional visual marker).
* Ideal for intraday, swing, or algorithmic trading setups.
**Customizable Inputs:**
**Lookback Period**: Number of previous candles to calculate the average range.
**% Threshold**: Maximum percentage a candle can exceed the average before being filtered or marked.
**Overview:**
The *Candle % Indicator* helps traders visually and analytically gauge the strength or significance of a price candle relative to its recent historical context. This is particularly useful for detecting breakout moves, volatility shifts, or overextended candles that may signal exhaustion.
**What It Does:**
* Calculates the **percentage range** of the current candle compared to the **average range of the past N candles**.
* Highlights candles that exceed a user-defined threshold (e.g., 150% of the average range).
* Useful for **filtering out extreme candles** that might represent anomalies or unsustainable moves.
* Can be combined with other strategies (like EMA crossovers, support/resistance breaks, etc.) to improve signal quality.
**Use Case Examples:**
***Filter out fakeouts** in breakout strategies by ignoring candles that are overly large and may revert.
***Volatility control**: Avoid entries when market conditions are erratic.
**Confluence**: Combine with EMA or RSI signals for refined entries.
**How to Read:**
* If a candle is larger than the average range by more than the set percentage (default 150%), it's flagged (e.g., no entry signal or optional visual marker).
* Ideal for intraday, swing, or algorithmic trading setups.
**Customizable Inputs:**
**Lookback Period**: Number of previous candles to calculate the average range.
**% Threshold**: Maximum percentage a candle can exceed the average before being filtered or marked.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。