The script uses the previous candle of the current timeframe to assess the state of the current candle. 1. Previous candle high/low and midpoint are displayed 2. Highlights current bar if INSIDE previous candle 3. Highlights current bar if POTENTIAL OUTSIDE bar. This condition uses the logic that if the previous high/low has been swept and price then reaches...
Papercuts Recency Candles V0.8 by Joel Eckert @PapercutsTrading ***This is currently an experimental visual exploratory concept.*** *** Experimental tools should only be explored by fellow coders and experienced traders.*** DESCRIPTION: As coders, how can we seamlessly transition between actual and smoothed price data sets as data ages? This is a...
- Overview Consecutive counting is a simple method to mechanically define trending states to the upside and downside. Consecutive counts are calculated by taking reference price level (e.g. close 4 candles ago) and count closes above/below it up to a maximum count that resets the consecutive count back to 1. This tool provides the means to backtest each count by...
Engulf Scan Introduction: The Engulf Scan indicator helps users identify bullish and bearish engulfing candlestick patterns on their charts. These patterns are often used as signals for trend reversals and are important indicators for traders. Engulf Scan signals are generated when an engulfing pattern is swallowed by another candlestick of the opposite...
Simple script to add standard Japanese candles in a new pane for use when using a non-standard chart (Ex: Heikin Ashi) that doesn't use true OHLC values in it's calculation so that you can still monitor true values and activity without having to take up the screen real estate that using a layout containing a whole new chart would require. This also makes...
The "Multi Time Period Chart" indicator in Pine Script is designed to overlay multiple sets of boxes on the chart, each representing price movements on different timeframes. It allows traders to visually compare price action across various timeframes simultaneously. The indicator offers flexibility by allowing users to choose between automatic mode (where...
The Nested Candle Highlighter identifies when the current candle's body is completely enclosed by the previous candle's wick zones. It examines the upper wick zone, from the previous high to the open or close, and the lower wick zone, from the low up to the open or close. This focused analysis can signal consolidation and potential shifts in momentum, offering an...
Name: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation" Category: Scalping, Trend Analysis Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique) Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between...
This indicator won't plot anything to the chart. Please follow steps below to set your alarms based on price range variation: 1) Add indicator to the chart 2) Go to settings 3) Choose timeframe which will be used to calculate bars 4) Choose how many bars which will be used to calculate max and min range 5) Choose max and min range variation (%) to trigger...
Japanese candlestick patterns are a powerful tool in technical analysis, offering traders and investors a detailed view of price action and market sentiment. 1. Spinning Top Description: The Spinning Top has a small candle body with long upper and lower shadows. This indicates that both buyers and sellers were active during the period, but neither took...
Overview The CS Patterns indicator is designed to identify and highlight various candlestick patterns on a trading chart. Candlestick patterns are a crucial tool for traders as they help in predicting market movements and potential reversals. This indicator includes single, double, and triple candlestick patterns without revealing the source code, making it an...
Linear Regression Channel The Linear Regression Channel indicator is a versatile tool for traders, providing valuable insights into price trends and potential reversal points. It plots two linear regression channels on the chart, helping you visualize price dynamics and make informed trading decisions. Indicator Features and Settings General...
The Pin Bar Detector is a technical analysis tool designed to identify pin bar candlestick patterns on trading charts. A pin bar is characterized by a small candle body and a long shadow, indicating a significant rejection of prices that can signal potential reversals in the market.
The core of this indicator is obviously RSI divergence. But there are some tips I would like to explain and suggest. First of all, although the basic principle of this indicator is simple: simply comparing the price and RSI value within a given time period. To be more specific, if the price now is lowest among last 300 candlesticks but its RSI value is not, then...
We have developed a sophisticated indicator to detect momentum, imbalance, and internal liquidity within financial markets. Designed to leverage real-time data analysis, this tool aims to assist traders in making more informed decisions. The momentum component of the indicator calculates the rate at which prices move. By measuring price changes over a specific...
This indicator will place long (buy) and short (sell) orders using the Ichimoku Tenkan Kijun Cross strategy. When in a trade position, it will create take profit levels using Fibonacci against the highest high or lowest low of the past 2 days. You can define your own level and set your own stop loss just in case. Senkou Span will act as your main bias. if the...
Discover the Power of Master Candle Trading with Our Indicator! 📈 What does it do? This indicator scans price action to identify 'Master Candle' formations, a powerful signal indicating potential trend continuations. A Master Candle occurs when the high and low of the next 4 candles are within the range of the previous candle, suggesting a period...
Introducing the Smart Money Concept Market Structure analysis indicator, a sophisticated tool designed to display the true market structure, in multiple timeframes. Inspired by Lewis Kelly's renowned strategy, this indicator offers a unique approach to defining market structure. It's worth noting that the Smart Money Concept Market Structure analysis indicator...