Nested Candle Highlighter @shrilss

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 insightful addition to your trading analysis.

Note di rilascio

Added toggle to only highlight nested candles that the previous candle upper wick is longer than the lower or vice versa. Default settings are the old version.

Note di rilascio

Fixed it to highlight bars inside of the previous wick that have an equal open the the previous close.

Note di rilascio

+ Added lines and labels giving users the information they need to use this script.

~ Make sure to wait for the nested candle close to confirm, place a stop and expect it to be hit within 2 bars, if not remove it and watch how price reacts. if broken within 2 bars expect at least 2 bars to the upside or downside.

Note di rilascio

~ Typo Fix

Note di rilascio

Made it so that conditions are met only after a candle has closed.

Script open-source

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

shrilss

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Script open-source

shrilss

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