CandelaCharts - Projections

📝 Overview

Projections turns a hand-picked swing window into clean, forward price levels. You pick a time range and an anchor (wick or body); the tool finds that window’s reference extremes (Level 0 & Level 1) and then projects directional extensions (e.g., −1, −2, −2.5, −4) in the chosen bias (Auto / Bullish / Bearish). It draws flat lines across the chart with optional labels so you can plan targets, fade zones, or continuation levels at a glance.

📦 Features

This section highlights the core capabilities you’ll rely on most.

• Window-based engine — Define a start/end time; the script records open/high/low/close inside that window and builds levels from those extremes.
  
• Two anchor styles — Project from Wick extremes (Hi/Lo) or Body extremes (max/min of OHLC at the high/low bars).
  
• Directional bias — Auto (up if net up; doji resolves by wick dominance), or force Bullish/Bearish for one-sided extensions.
  
• Default & Custom levels — Toggle pre-sets (−1/−2/−2.5/−4) or enter your own comma-separated list (decimals supported).
  
• Readable drawings — Per-level colors (defaults) or unified bull/bear color (custom), with label size, line style, and width controls.
  

⚙️ Settings

Use these controls to define the window, pick the projection style, and customize the visuals.

Settings (Core)

• From / To — Start and end timestamps of the capture window (everything is computed from this segment).
  
• Bias — Auto / Bullish / Bearish. Guides which way negative levels extend (up for bull, down for bear).
  
• Anchor — Wick uses Hi/Lo; Body uses the body extremes at the high/low bars.
  

Levels

• Levels = Default — Enable any of −1, −2, −2.5, −4 and set each color.
  
• Levels = Custom — Provide your own list (e.g., “−0.5, −1, −1.5, −3”) and pick Bullish/Bearish colors. (Custom uses one color per side.)
  

Style

• Labels — Show/Hide the numeric level tag at the line’s right edge; choose label size.
  
• Lines — Pick solid/dashed/dotted and line width.
  

⚡️ Showcase

Bearish Projection

Bullish Projection


📒 Usage

Follow these steps to set the window, generate levels, and turn them into a trade plan.

• 1) Mark the window — Set From/To around the swing you want to project (e.g., prior day, news impulse, weekly move).
  
• 2) Choose bias — Auto adapts; or lock Bullish/Bearish if you only want upside or downside projections.
  
• 3) Pick anchor — Wick = raw extremes; Body = more conservative reference. Body helps when single-print wicks distort levels.
  
• 4) Select levels — Toggle defaults or add a custom list. Negative values (−1, −2, …) extend beyond the reference extreme in the bias direction. (Level 0 and 1 are always drawn as the reference pair.)
  
• 5) Style it — Turn labels on, adjust size, and set line style/width for visibility on your timeframe.
  
• 6) Trade plan — Treat projections as reaction/continuation zones: scale out into −1/−2/−2.5, watch for fades back into the band, or ride continuation when price accepts beyond a level.
  

🚨 Alerts

There are no built-in alerts in this version.

⚠️ Disclaimer

Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.