OPEN-SOURCE SCRIPT
Unified Sentiment Candles Overlay (SMA)
Unified Sentiment Candles (SMA) Indicator
The Unified Sentiment Candles (SMA) is a custom overlay indicator designed to provide a smoothed visualization of market sentiment by plotting synthetic candles based on the Simple Moving Average (SMA) of open, high, low, and close prices. It helps traders identify trend direction and potential reversals more clearly.
How to Use:
-Observe Candle Colors: Green candles indicate bullish sentiment (close ≥ open), while red candles suggest bearish sentiment (close < open).
-Trend Identification: Consistent green candles point to an uptrend, whereas consistent red candles may signal a downtrend.
-Support & Resistance Zones: The SMA-based candles smooth out short-term volatility, assisting in spotting key support and resistance levels.
-Entry & Exit Signals: Look for color changes or candle pattern formations within the synthetic candles to time entries and exits more effectively.
Settings:
SMA Length: Adjust this parameter to control the smoothing period. A shorter length makes the indicator more responsive, while a longer length smooths out more noise.
This indicator is best used in conjunction with other technical analysis tools to confirm signals and improve trading accuracy.
This script is open-source and licensed under the Mozilla Public License 2.0. Use and modify it at your own discretion.
The Unified Sentiment Candles (SMA) is a custom overlay indicator designed to provide a smoothed visualization of market sentiment by plotting synthetic candles based on the Simple Moving Average (SMA) of open, high, low, and close prices. It helps traders identify trend direction and potential reversals more clearly.
How to Use:
-Observe Candle Colors: Green candles indicate bullish sentiment (close ≥ open), while red candles suggest bearish sentiment (close < open).
-Trend Identification: Consistent green candles point to an uptrend, whereas consistent red candles may signal a downtrend.
-Support & Resistance Zones: The SMA-based candles smooth out short-term volatility, assisting in spotting key support and resistance levels.
-Entry & Exit Signals: Look for color changes or candle pattern formations within the synthetic candles to time entries and exits more effectively.
Settings:
SMA Length: Adjust this parameter to control the smoothing period. A shorter length makes the indicator more responsive, while a longer length smooths out more noise.
This indicator is best used in conjunction with other technical analysis tools to confirm signals and improve trading accuracy.
This script is open-source and licensed under the Mozilla Public License 2.0. Use and modify it at your own discretion.
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。