erfan_abedi

Price Action

First, you have to know price action, RTM price action Handbook could help you
this indicator shows you base and momentum candles
base candles could be zones of trade that show you fighting of bulls and bears, and momentum candles could show the power of those zones.
Base candles are white in the chart, and you can place your order at the good zone.
Rally candles and drop candles are momentum candles, and bold rally and bold drop show that it is more powerful than its before candle.

Zigzag compression is one way that shows the compression in trend.
it looks like the Wedges pattern at classic technical that shows pending orders are closed, so the target zone could be powerful to reverse the trend.

Black background of candle means that candle doesn't reach its before candle and so it is poor candle, I named it domination.
It is better to do not trade at poor candles.

At the end, I find Price action the best way to trade, and it makes you free of other indicator, even volume indicator.
This indicator is good for those who use price action strategy to trade and those who want to learn the price action.
It could be so helpful and reliable way to find the zones, and place buy or sell order and the target, specially for scalping.
הערות שחרור: In this version it help you find some patterns like

3Drive
Rectangle
Triangle

You should change patterns sensitivity to find more.


I'll be happy if you have an idea to enhance this indicator
הערות שחרור: Enhanced
הערות שחרור: Now we have 3 views
view 1 shows the base, momentum candles
view 2 shows RBR, RBD, DBD, DBR patterns
view 3 shows only base candles to keep the chart clear for you

RBR and DBD are continuing patterns.
RBD and DBR are return patterns.

Change pattern sensitivity up to find bigger 3Drive or triangle or rectangle pattern.

Special thanks to @CryptoTWFBIG
הערות שחרור: Little changes
char "✵" in view 2 shows the rally drop or drop rally candles
power sr finds rally drop drop or drop rally rally candles
הערות שחרור: enhanced
סקריפט קוד פתוח

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

רוצה להשתמש בסקריפ זה בגרף?