Multi-Timeframe Candle Analysis [by Oberlunar]

22 dic 2024

Multi-Timeframe Candle Analysis
[by Oberlunar]

Scalping often requires traders to make rapid decisions based on price movements within a short timeframe. However, a key challenge is understanding the broader trend and market pressure across higher timeframes without cluttering the workspace with multiple charts. This can lead to a lack of clarity, missed opportunities, or poorly timed trades.

The Multi-Timeframe Candle Analysis script addresses this challenge by providing a consolidated view of essential information across multiple timeframes in a single interface. This script calculates and displays the volatility, strength, and type (bullish or bearish) of candles for up to six customizable timeframes. With this data presented in a neat table, traders can quickly assess market conditions without the need to open multiple charts.

How It Works
The script analyzes six user-defined timeframes, ranging from intraday intervals (e.g., 15 or 30 minutes) to daily or even weekly periods. It extracts critical data such as open, high, low, and close prices for the current and previous candles. From this data, the script computes:

• Candle Type: Identifies whether the candle is bullish or bearish based on the close relative to the open.
  
• Volatility Percentage Change: Measures the percentage change in candle volatility compared to the previous candle.
  
• Candle Strength: Evaluates the strength of price movements within the candle relative to the previous one.
  

These metrics are organized into an easy-to-read table that updates dynamically as the market moves. The table color codes bullish and bearish candles for quick visual recognition, enhancing decision-making speed.

22 dic 2024

Note di rilascio

small bug fix

29 dic 2024

Note di rilascio

The script is now more robust with respect to the NA.

30 dic 2024

Note di rilascio

added color dynamics

30 dic 2024

Note di rilascio

another bug fix, sorry.

30 dic 2024

Note di rilascio

bug fx

10 gen

Note di rilascio

color bug fix

10 gen

Note di rilascio

v2

13 giu

Note di rilascio

some improvements...

14 giu

Note di rilascio

Some small color fix, fully personalizable

14 giu

Note di rilascio

added option for the table positioning

14 giu

Note di rilascio

added some corrections in the labels

14 giu

Note di rilascio

The script now not only analyzes multiple timeframes, but also allows you to select both the broker and the instrument to monitor — either from a predefined list or by entering them manually. Each row in the table can refer to a different asset, providing a fully customizable multi-broker, multi-instrument, multi-timeframe overview.

5 giorni fa

Note di rilascio

Now you can select any instrument in the cross-broker setup.

5 giorni fa

Note di rilascio

Added a buffer window to weigh the last variations against the previous ones,
the parameter is Window Length.

5 giorni fa

Note di rilascio

Bug fix in resetting the buffer when you change the window.

5 giorni fa

Note di rilascio

small bug fix, sorry.