Few Months ago I started wanted to code a candle which alerts me when a Rally may be over in Bearish Conditions and today I have created a candle which is 1. subjective but more importantly appears in areas where buying pressure is at either a climax or in the process of a decline and this is where the Rally Candle signals. This shows momentum may be shifting and...
This indicator colors the candles according to the z-score of the trading volume. You can easily see the imbalance on the chart. You can use it at any timeframe.
In statistics, the standard score (Z-score) is the number of standard deviations by which the value of a raw score (i.e., an observed value or data point) is above or below the mean value of what is...
Multiple Wicks forming at OverSold & OverBought levels create Buying and Selling Pressure. This Script tries to capture the essence of the buy and sell pressure created by those wicks. Wick pressure shows that the trend is Exhausted.
How it works:
This Wick Pressure Indicator checks for three candles forming the wicks in overbought and oversold zones. The...
Hello!
This script uses TradingView's *All Candlestick Patterns* indicator and includes a volume filter.
The frequency of each candlestick pattern is recorded in addition to the subsequent session's outcome - higher or lower close.
The requisite volume for the pattern is configurable; formations will not be distinguished when volume is less than the defined...
CANDLES COLORED GREEN OR RED ACCORDING TO BUY & SELL PRESSURE
This indicator paints each candle green, red or blue depending on whether the buy/sell pressure for that candle is bullish, bearish or neutral.
***TURN OFF NORMAL CANDLE COLORS***
For this script to show properly on the chart, make sure you go to chart settings(gear icon in top right corner) and in...
Library "AbdulLibrary"
The library consists of three sections:
Technical Analysis Functions - A collection of tools commonly used by day traders
Trading Setup Filters Functions - A number of filters that help day traders to screen trading signals
Candlestick Pattern Detection Functions - To detect different candlestick patterns that are...
Mainly developed for AMEX:SPY trading on 1 min chart. But feel free to try on other tickers.
Basic idea of this strategy is to look for 3 candle reversal pattern within trending market structure. The 3 candle reversal pattern consist of 3 consecutive bullish or bearish candles,
followed by an engulfing candle in the opposite direction. This pattern usually...
This script highlights modified version of evening and morning star candlestick patterns. Volume has also been added in the script to create convergence of volume with price action.
It is recommended to use these patterns for positional trading. It is advised to use
Morning star at the bottom of the downtrend
Evening star at the top of the uptrend
Avoid...
OVERVIEW
The name Candilator comes from blending the words "candlestick" and "oscillator". And as the name suggests, this indicator is a good old RSI plotted as a candlestick chart. To produce a candlestick chart, Candilator RSI calculates four RSI's based on the open, high, low, and close time series. It also has a candlestick patterns detection feature.
...
If you are using support/resistance level-based strategies in your trading then this indicator can help you. I think that the retest level strategy is the best for beginners due to its simplicity of risk/reward calculations and higher abundance on the market. There is a well-known method to recognize a big player (buyer/seller) by candlestick pattern where the...
Wick play is a candle stick long setup popularized by 2020 US Investing Champion Oliver Kell
Wick Play is a setup in which:
Strong stock with momentum to the upside closes off the highs of the day in yesterdays session.
Today's session opens in the candle "wick" of yesterdays bar.
If stock holds in the wick and doesn't trade in the body of yesterdays...
This price action indicator uses the higher timeframe SSL channel to identify trends.
The long entry signal is a bullish candlestick pattern when the price retraces to EMA20 in an uptrend.
The short entry signal is a bearish candlestick pattern when the price retraces to the EMA20 in a downrend.
Currently, this indicator shows engulfing patterns, pin bar...
A simple indicator that calculates the sum of 'Up'(green), 'Down'(red), and 'Doji'(near Doji) candlesticks and portrays the same in an allocation format in percentage. And since it is allocation-based, the total will never exceed 100% of the defined Length period.
The equation is Green + Red + Doji = Total Candles; where total candles = length
When calculating...
Library "CandleEvaluation"
Contains functions to evaluate bullish and bearish, engulfing, and outsized candles. They are different from the built-in indicators from TradingView in that these functions don't evaluate classical patterns composed of multiple candles, and they reflect my own understanding of what is "bullish" and bearish", "engulfing", and...
Hello Traders!
As a fan of Bulkowski, I figured I'd release this for everyone's benefit as well.
The legendary candlestick pattern expert, Thomas Bulkowski, has over 35 years of trading and analysis experience and is the absolute go-to expert when it comes to candlestick pattern identification.
Bulkowski Candlestick Percentages from his site and books.
Source:...
Heikin Ashi can be useful for understanding trend based on price action but it doesn't take volume in context. Here I have tried to use volume for understanding true bar color and ultimately true trend analysis. It can also help you in not getting trapped in sudden shakeouts. Also, you can use it for averaging of your existing position.
Conditions used:
...
![BTCPERP: Candle Colored by Volume Z-score [Morty]](https://s3.tradingview.com/0/0KInGMjR_mid.png "Candle Colored by Volume Z-score [Morty]")
![SPY: Volume Filtered *All Candlestick Patterns* [KT]](https://s3.tradingview.com/s/s9ghsBeB_mid.png "Volume Filtered *All Candlestick Patterns* [KT]")
![EURUSD: Candilator RSI [AstrideUnicorn]](https://s3.tradingview.com/a/aWwNQO7C_mid.png "Candilator RSI [AstrideUnicorn]")
![BTCPERP: Price Action [Morty]](https://s3.tradingview.com/a/A2XSWX5J_mid.png "Price Action [Morty]")
