Candlestick Channels return channels whose extremities converge towards the price when a corresponding candlestick pattern is detected. This allows for us to obtain more reactive extremities in the presence of a cluster of candlestick patterns. The detected candlestick patterns are also highlighted with labels on your chart automatically. Settings Trend...
Note: Go to "Chart Settings" & hide "Body" & "Borders". Also uncheck "Labels on price scale" & "Values in status line" as they're not needed. This script plots candlestick bodies with the same thickness as the wicks (similar to the bar chart, but without the horizontal lines to represent the open & close). To do this, it plots an invisible candlestick body with...
FVG Fair Value Gap Indicator FVG's commonly known as Fair Value Gaps are mostly in use for forex trading, however it’s been widely used in price action trading, even on regular large cap stocks. Think of it as an imbalance area where the price of the stock may actually be under/over valued due to many orders being injected in a short amount of time, ie . a gap...
Not one of my more challenging scripts, never the less I was requested to publish this open source indicator. Heiken Ashi (HA) candles indicate strength usually when the candles have wicks in the direction of the movement, ie. top wicks on green candles w/NO wicks on bottom and vice versa for bearish behavior (bottom wicks on red candles). Weakness in the...
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Candle has been divide into 3 types up bar, down bar and inside bar, These bar classified comparing previous candle high low to current candle close. This method used to ride the trend without exiting position. We can use this candle color as a stop loss and take profit. Previous candle H&L Vs Cur. Candle Close I U D ------------------------ I - Inside...
Further development on the sub-candle concept defined in the earlier script. SubCandle This time instead of concentrating only on the last part, we are dividing the main candle into three parts. First Sub-Candle - Covers the candle movement from open to first of highest/lowest point. First sub-candle tells how fast/slow the initial movement took place and...
This is my second Donchian Channels indicator (and will probably be my last because how many does one really need). This version is different from my other one in that, well, it's 'dynamic' which simply means that it self adjusts based on the same formula that my Ultimate Moving Average does. What does that mean? It just means that the script takes an average of 8...
This may seem like a pretty basic Moving Average indicator but I haven't seen one that changes the calculation point depending if the market is going up or down. I've added three EMA's (length of 20) on this sample chart to demonstrate the differences. These are not included with the indicator. Green, EMA calculated on High Red, EMA calculated on Low Yellow, EMA...
This indicator splits the candle time into 30 units to indicate where the price was at each time. In the case of a 1-hour time zone, 60 minutes / 30 = 2 minutes, so this display the location of the price every 2 minutes. In case of 1 minute time zone, it is displayed every 2 seconds. CAUTION If a transaction does not occur, the display may be omitted. You...
This indicator shows the GAPs that are formed according to whether the opening price is above or below the rate specified in the selection box. An alarm can be set on these conditions.
What? Price Action in Action is an indicator to help Price Action learners and practitioners to get everything related for Price Action in one place. Price Action is: Price + Volume = Action In this indicator, we have the following features available: Support/Resistance Using the RSI with different periods in a multiple of 7 (7, 14, 21, 28), we...
This indicator Colors in candles if there are 3 or more consecutive bearish or bullish candles. If you are familiar with the BTMM/Stacey Burke Trading concept of expecting a stop hunt after 3 cycles of rise/fall this indicator may be useful to you. I'm new to coding/making indicators so the code may not be as polished so please bare with me, I am in the...
This script plots gaps between candles. It uses the "round_to_mintick" feature in the Pinescript code, so it works on any instrument out to 3 decimal places. If there is a Gap Up (open of current candle is greater than the close of previous candle) it will plot a green arrow under the current candle and plot a label above the current candle to show the Gap...
This simple script provides a visual aid for price action traders by coloring outside & inside candles, which in effect leaves the trader with 6 possible candle colors: -Regular bullish candle -Outside bullish candle -Inside bullish candle -Regular bearish candle -Outside bearish candle -Inside bearish candle These candlesticks may provide powerful signals when...
█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top. These V bottom & V top are chart powerful reversal patterns. They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time. To address this...
Hi Dear Traders/Dealers! I present you here 3 lines that I developed myself base on statistical issues. +Reg. Line +Gauss Line +T.O Line -Reg. Line based on linear regression of previous inputs to make an average value. -Gauss Line based on Gaussian mean value, Standard Deviation and it uses previous inputs to make an average value. -T.O Line based on Gaussian...
Mark FVGs is marking FVG (stands for Fair Value Gap, other name is Imbalance or IMB) on your chart so that you can instantly detect them It supports: - marking bullish and bearish partly filled or unfilled FVGs of the current timeframe - marking bullish and bearish already filled FVGs of the current timeframe - marking bullish and bearish FVGs of the any...