Visualizes candlestick formations while on lower time periods. Applicable when scalping or switching between periods.
Green background means the candle closed higher than it opened, red vice-versa. The white background shows the ranging between open and close for the candle.
Defaults to 1D, options for any time period available as a side by side.
Examples of higher resolution inputs: 3D = 3 days, W = week, M = month
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Fixed issue where there would be a two bar gap between new candles
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Script clean up, added highlights for candle opens/closes, and alternate custom time range instead of fixed daily candles.
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Compressed + removed unused plot arguments
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- reworked entire script - added toggles for open/close coloring for different colored backgrounds
the script stopped working correctly today! must be a pine update. the background fills are wrong when the HTF candle changes color on next bar. (see down arrows)
Could you kindly update if possible @NeoButane - this script is a big part of my trading day! appreciate all the great work!
There seems to be a problem with the candle ranges/sessions not opening side by side (Candles close and the new one isnt immediately opened. Its visible even in the example with the gaps in between each range) Otherwise this is an awesome indicator. Don't have to draw higher timeframe OHLC's by hand anymore.
NeoButane
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@Faron,
Thanks for the feedback. Unfortunately the gaps have to do with the method of separating each range into its unique candle. I've tried multiple methods of separating candles and I still haven't come across a way that wouldn't cut out so much information.
In the mean time you can add this to the bottom of the script. It'll plot out what should be the whole candle, not very visually appealing though
You can add this as well for clearer confirmation of a new candle open/close:
c = plotshape(HLCinput and HLCO != HLCO[1] ? HLCO : na, title="Open Label", style=shape.labeldown, text="New" + "\n" + "Bar", location=location.absolute, size=size.auto, textcolor=black, color=white, transp=0)
Faron
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@NeoButane, Thought I posted this earlier but I guess I wrote it out and forgot to post it but thanks. Indicating the open/close with a bar at the ends of the transparent fill makes it much more legible to me when having multiple time frames drawn.
Noticed an update in the code. I think you added support for more than 1 custom time frame? if you did, it doesn't come up in formatting. Unless I'm mistaken on what param1 and param2 is/does.
NeoButane
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@Faron,
That param2 you saw before is actually the fix for the gap. I took your note about the open/close indications and switched it for background highlights. Does that make sense still?
Faron
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@NeoButane, Yeah I was thinking about the param 1 and param 2 after i posted my comment and realized that was probably the gap fix. This has become, easily one of the best indicators on Tradingview. You've literally automated most of my charting.
Won't have to do a lot of this now.
Also when talking about having a bar at the ends of the opens and closes I actually originally meant something like this. But what you added is fantastic regardless.
Could you kindly update if possible @NeoButane - this script is a big part of my trading day! appreciate all the great work!