Contraction Levels

A contraction candle is a candle whose body engulfs both left and right candlesticks' bodies. This indicator shows those contraction candlestick patterns which consists of successive candles. Then draws a horizontal level line to its defined % of its body size and also draws +/- filter lines which are shown as dashed lines, also with an option to define those filters' percentage.

Bullish Contraction:
Whenever a new candle closes above the maximum high of 3 contraction candles pattern, that contraction is called bullish contraction and its lines are shown as green lines ( you can change the color as well)

Bearish Contraction:
Whenever a new candle closes below the maximum low of 3 contraction candles pattern, that contraction is called bearish contraction and its lines are shown as red lines ( you can change the color as well)

Note di rilascio

Options to show/hide:
- Contraction Candles
- Center Lines
- Filter Lines

Note di rilascio

Colors all 3 contraction candles instead of last candle

Note di rilascio

Added Alerts and their options to show/hide for:
- New contraction candle
- New bullish and breakout
- Cross for center line and +/- filter lines

Note di rilascio

Fixed a bug in breakout alerts

Note di rilascio

Added some details to comments

Note di rilascio

Fixed some bug about barstate for contraction bars

Script open-source

In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.

efe_akm

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Script open-source

efe_akm