This is a script to color code bars based on the bullish- and bearish combination.
Bullish Combination Percent: Price >= 4% from yesterday and Volume today > Yesterday Dollar: Price >= 0.9 dollar from open
Base Requirements - Price > Yesterday's close - Price > Open - Price is within 30% of high - Todays price range >= Yesterdays price range - Yesterday's move <= 2% - Volume >= 100 000
Bearish Combination Percent: Price <= 4% from yesterday and Volume today > Yesterday Dollar: Price <= 0.9 dollar from open
Base Requirements - Price < Yesterday's close - Price < Open - Price is within 30% of low - Todays price range >= Yesterdays price range - Yesterday's move >= -2% - Minimum volume for each of last 3 days >= 100 000
Momentum Filter These are based on the 10 and 20 EMA crossover, where the former above would indicate upward momentum and below downward momentum. This can help to narrow down the color code to continuation phases. The linked option will override all other momentum filters, bullish candles will be displayed when EMA 10 > 20 and bearish candles when EMA 10 < 20.
Note di rilascio
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Added the bullish- and bearish reversal combination.
Indicator is customizable via the indicator settings - Momentum burst with bullish, bearish, percent and/or dollar requirement (candle color). - Three type of momentum filters. - Reversal bullish and/or bearish (arrow above or below bar). - Checkbox to bypass use price and volume requirement.
How to read the different colours here, unable to understand? What's the difference between dark green to parrot green to candles with green border? When does it show a green arrow at the bottom of the candle?
shaaah10
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@pratikvimal, In case you enter the styles tab in the indicator settings.
Color 0-1 is for 4% breakout Color 2-3 is for $ breakout Color 4-5 is for neutral
You can edit these to your own preference.
The arrows is for the reversal scan, which works separate from the above. It can be turned on/off from the input tab.
peanutwaffle
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fantastic indicator, hits all the visual requirements of stockbee's MB strategy for quick decision making and trade execution
pratik2358
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thanks
TheBlackFish
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Hi @shaaah10, another great indicator. When exactly does the color change? Does it change instantly when trading live session or does it happen once closed?
shaaah10
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@TheBlackFish, It changes whenever the requirements are met, thus in real time / live session.
Hey great indicator how are you measuring the reversals
sfintv2021
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@shaaah10 . Hi great work with you current inclusive scripts. But I got few confirmation. For example CNCE on 29th December it should be a burst but the current script cannot color the bar. But the older script could color it well. The issue I notice is because of this bullish_linear = close[1]/close[2]<=1.02. If change to 1.04 then it seems to be working. What is your opinion on this ? Secondly when we first see say this condition bullish_hod = (close-low)/(high-low)>=0.7 is meet. At times after few hours it might go to below 70%. So in this case what is your approach for this scenario? Stockbee doesnt use any ema right. What is your opinion on it as I saw your introduce in this version?