OPEN-SOURCE SCRIPT

Candle Thermals

已更新

This indicator color candles based on their percentage price change, relative to the average, maximum, and minimum changes over the last 100 candles.

-It calculates the percentage change of all candles
-Calculates the minimum, maximum and average in the last 100 bars in percentage change
-Changes color of the candle based on the range between the current percent and min/max value
-The brightest candle provides the highest compound effect to you account if you act on it at the open.
-Candles that have a percentage close to the average then they are barely visible = lowest compound effect to your account

This indicator functions like a "heatmap" for candles, highlighting the relative volatility of price movements in both directions. Strong bullish candles are brighter green, and strong bearish candles are brighter red. It's particularly useful for traders wanting quick visual feedback on price volatility and strength trends within the last 100 bars.

版本注释

we have made the candles yellow if they reach maximum or minimum values in percentage change. meaning those are the candles which you will achieve the highest compound effect