Hello!
Another quick/fun project: "Rain Flow Candles" uses lower timeframe volume data and creates a volume profile bar against a higher timeframe.
Features
The image above explains some characteristics of the indicator.
With default settings, Rain flow bars consisting of a higher second half VWAP value are colored green; Rain Flow bars with a lower second half VWAP value are colored red.
Rain Flow bars with an equal VWAP value for the first half and second half of the higher timeframe are colored blue.
Rain flow candles can calculate up to 500 price areas for the session (maximum number of allowed boxes).
The indicator will produce as many Rain flow bars as it can relative to your settings.
The values in each column correspond to the total volume at the price area for that half of the session.
Boxes protruding left show volume values at the price area for the first half of the higher timeframe. Conversely, right facing boxes show volume at the price area for the second half of the interval.
Column width is measured using the rank method. The highest volume price areas extend further from the bar.
The image above explains the remaining components of the indicator!
Thank you to @RicardoSantos and @Trendoscope for their awesome libraries (:
Thank you for checking this out!
Another quick/fun project: "Rain Flow Candles" uses lower timeframe volume data and creates a volume profile bar against a higher timeframe.
Features
- First half of higher timeframe VWAP lines
- Second half of higher timeframe VWAP lines
- Adjustable profile size (columns) and columns width
- Volume profile bars generated using lower timeframe and higher timeframe data
- Bars can be created for any timeframe higher than what's on your chart
The image above explains some characteristics of the indicator.
With default settings, Rain flow bars consisting of a higher second half VWAP value are colored green; Rain Flow bars with a lower second half VWAP value are colored red.
Rain Flow bars with an equal VWAP value for the first half and second half of the higher timeframe are colored blue.
Rain flow candles can calculate up to 500 price areas for the session (maximum number of allowed boxes).
The indicator will produce as many Rain flow bars as it can relative to your settings.
The values in each column correspond to the total volume at the price area for that half of the session.
Boxes protruding left show volume values at the price area for the first half of the higher timeframe. Conversely, right facing boxes show volume at the price area for the second half of the interval.
Column width is measured using the rank method. The highest volume price areas extend further from the bar.
The image above explains the remaining components of the indicator!
Thank you to @RicardoSantos and @Trendoscope for their awesome libraries (:
Thank you for checking this out!
版本注释:
Updated cover picture
版本注释:
Added a "Traditional Look" feature - enjoy!!
Thank you (:
Added a "Traditional Look" feature - enjoy!!
Thank you (:
版本注释:
Changed default settings
•Access to Next-Gen Optimization Tools: www.kiosefftrading.com
•Discord Server: discord.gg/3cKVU28Z9Z
•Discord Server: discord.gg/3cKVU28Z9Z