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Trap Candle (Trend H4 + RSI Filter)🔍 Trap Candle (Trend H4 + RSI Filter) Description: The Trap Candle indicator is designed to identify a specific and powerful two-candle price action pattern that often signals a false breakout followed by a strong reversal. It combines pure price action with two objective filters to increase signal quality and trend alignment. 📊 Pattern Logic: Bullish Trap: The current candle breaks the previous candle’s low, but closes above its high (and is bullish). Bearish Trap: The current candle breaks the previous candle’s high, but closes below its low (and is bearish). This pattern often reveals institutional traps or stop hunts before directional movement. 🧠 Trend Filter (H4): Ensures long signals occur only when the H4 close is higher than the previous H4 close (uptrend). Ensures short signals occur only in a H4 downtrend. Designed to align intraday entries (M15, H1) with higher timeframe momentum. 💪 RSI Confirmation: Includes a configurable RSI filter on the current timeframe. Only long signals are shown when RSI is above a user-defined threshold (e.g. 55). Only short signals are shown when RSI is below a user-defined threshold (e.g. 45). ⚙️ Key Features: Full customization of RSI period and thresholds. Clean, visual signal plotting on the chart (with “Trap L” or “Trap S” labels). Built-in alerts for both long and short trap candle setups. Perfect for traders who want to trade smart reversals with trend and momentum confirmation. ✅ Recommended Timeframes: M15 and H1 (entry) Uses H4 for trend bias If you’re looking to filter out noise and spot only the highest quality reversal setups, the Trap Candle (Trend H4 + RSI Filter) is a solid tool for any price action-based strategy.
مؤشر Pine Script®
من ‎Giancarlo_Adorno‎
First Candle🕯️ First Candle Indicator (First 5-Minute Candle High/Low) The First Candle indicator automatically marks the high and low of the first 5-minute candle of the U.S. trading session . These levels can act as key intraday support and resistance zones, often used in breakout, scalping, or opening-range trading strategies. 📌 Key Features: Automatic detection of the first candle of the U.S. session based on the selected timeframe (default is 5 minutes). Horizontal lines are plotted at the high and low of that candle, with fully customizable colors and thickness. Labels show the exact level and timeframe used for the high and low. Resets daily, removing previous session data at the start of a new session. Displays a visual marker (blue triangle) when the first candle is detected. Allows users to select different timeframes for defining the "first candle" (e.g., 1, 5, 15 minutes). ⚙️ Customizable Inputs: Show First Candle Lines: toggle the display of high/low lines. Timeframe for Marking: choose the timeframe to detect the first candle (e.g., 5 minutes). High Line Color / Low Line Color: set the color of each level line. Line Thickness: adjust the width of the lines (1 to 5 pixels). 🧠 Strategic Applications: Identify breakout zones right after the market opens. Define opening range for pullback or continuation setups. Set clear reference levels for intraday trading decisions.
مؤشر Pine Script®
من ‎EduWarlock‎
Candle Ribbon [UkutaLabs]The Candle Ribbon is a powerful trading tool that creates a strong ribbon that indicates market strength. This ribbon is created using three moving averages that use the candle values (high, low, open and close) as its input values. The center most MA will also be colored green, red or grey depending on whether or not its direction aligns with current market strength. The outer band lines act as range indicators, plotted above and below the center ribbon, which represent volatility boundaries for price action. █ USAGE The Candle Ribbon is created using a series of three moving averages that uses values from the candle as its inputs. The user has the ability to select whether the moving averages are EMAs or SMAs, as well as the ability to control the period of the moving averages. If the moving average calculated using the Candle Open is below the moving average calculated using the Candle Close, the ribbon will be colored green, indicating a bullish trend. If the moving average calculated using the Candle Open is above the moving average calculated using the Candle Open, the ribbon will be colored red, indicating a bearish trend. This indicator also uses a series of hidden EMAs to determine market strength. If these EMAs do not align with the direction of the Candle Ribbon, the middle MA will instead be colored grey, indicating uncertainty in the market, as well as a possible reversal. █ SETTINGS Configuration • Moving Average Type: Determines whether or not the Candle Moving Averages will be drawn as EMAs or SMAs. • Moving Average Period: Determines the period of the Candle Moving Averages. Moving Average • Moving Average Input: Determines the input values for the hidden EMAs.
مؤشر Pine Script®
من ‎UkutaLabs‎
Volume-Enhanced Candlestick Patterns 1 Overview Scans for four major candlestick reversal patterns: Harami Engulfing Morning/Evening Star Piercing Line/Dark Cloud Cover Underlying logic assumes that, at a turning point, the dominant side (bulls or bears) often delivers a “final” push—either a last surge of buying or selling—before the reversal truly takes hold. Pattern Toggles Each individual pattern can be turned on or off in the inputs. Enable only the patterns you want to monitor to reduce chart clutter and speed up performance. Volume Filter Toggle On: Requires volume-based exhaustion or climax to confirm each pattern. Off: Relies purely on price-action candlestick logic (no volume checks). Grouped Labels & Confluence When one or more patterns trigger on the same bar close, a single label is drawn: Grouping multiple confirmed patterns on one bar increases confluence and signal strength. Climax Volume × Multiplier Adjusting this input affects signal frequency and conviction: Higher multiplier → fewer signals but with stronger volume confirmation Lower multiplier → more signals, each with a looser volume requirement Alerts Built-in alert condition for each individual pattern (bullish/bearish Harami, Engulfing, Star, Piercing, Dark Cloud Cover), so you can receive real-time notifications whenever a confirmation occurs. Follow for Weekly Scripts If you find this helpful, please hit Follow and 🚀button —I release a new scripts every week. Disclaimer Not Financial Advice. This script is for educational and research purposes only. Use as Part of a Larger System. It should not be used in isolation; combine it with your own risk management rules, additional indicators, and broader market analysis. No Guarantees. Candlestick patterns and volume filters can improve signal quality, but they do not guarantee profitable trades. Always perform your own due diligence before entering any position.
مؤشر Pine Script®
من ‎Alex_Algo‎
MTF Candle Direction Forecast + Breakdown🧭 MTF Candle Direction Forecast + Breakdown 🔥📈🔼 This script is a multi-timeframe (MTF) price action dashboard that helps traders assess real-time directional bias across five customizable timeframes — with a focus on candle behavior, trend alignment, and confidence strength. 📌 What It Does For each timeframe, this dashboard summarizes: Current direction → Bullish, Bearish, or Neutral Confidence score (0–100) → How strongly price is likely to continue in that direction Candle strength → 🔥 icon appears if the current candle has a large body relative to its range Trend alignment: 📈 = EMA9 is above EMA20 🔼 = Price is above VWAP Color-coded background to visually reinforce directional state Each row gives you a visual “at-a-glance” readout of what price is doing right now — not in the past. 💡 Why It’s Useful ✅ Direction forecasting based on price action Instead of lagging indicators, this script prioritizes: Candle body-to-range ratio (momentum) Real-time VWAP/EMA structure Immediate price positioning ✅ Confidence is quantified The score (0–100) helps you judge how reliable each directional signal is: 90+ → Strong conviction 50–70 → Mixed but potentially valid <40 → Weak move or early signal ✅ Timeframe confluence at a glance See whether multiple timeframes are aligning directionally — helpful for scalping, day trading, or waiting for multi-timeframe breakout setups. ✅ Visual & intuitive Icons, colors, and layout make it easy to scan your dashboard instead of deciphering charts or code. 🛠️ Adjustable Settings Setting Description Timeframe 1–5 Choose any timeframes to monitor (e.g., 5m, 15m, 1h, 4h) Candle Display Mode Show trend color via emoji (🟢/🔴) or background shading Strong Candle Threshold Adjust the body-to-range % needed to trigger 🔥 strength Bullish/Bearish Background Customize label color coding Neutral Background (opacity) Set transparency or styling for flat/consolidating zones Table Location Place the dashboard anywhere on the chart 🎯 Use Cases Scalpers: Confirm trend across 1m/5m/15m before entering Day Traders: Use confidence score to avoid low-momentum setups Swing Traders: Monitor higher timeframes for trend shifts while tracking intraday noise VWAP/EMA traders: Quickly see when price is reclaiming or losing critical trend levels 🧠 What Makes It Unique? Unlike generic trend meters or mashups of standard indicators, this script: Uses live candle dynamics (not just closes or lagging values) Computes directional bias and confidence together Visualizes strength and structure in a compact, readable interface Let’s you filter by price action, not just indicator alignment 💥 Why Traders Love Will Love It ✅ Instant clarity on which timeframes agree ✅ No more guessing candle strength or trend health ✅ Confidence score keeps you out of weak trades ✅ Works with any strategy — trend following, VWAP reclaim, EMA scalps, even breakouts ✅ Keeps your chart clean — all the context, none of the clutter ⚠️ Transparency🧬 Under the Hood Powered by live candle body analysis, trend structure (EMA9 vs EMA20), and VWAP placement. All scores are generated in real-time — No repainting or lookahead bias: all values are computed with lookahead=barmerge.lookahead_on Confidence scores reflect the current candle only — they do not predict future moves but measure momentum and alignment in real-time Labels update per bar and respond to subtle shifts in candle structure and trend indicators ✅ MTF Trend Snapshot (Live Output Example Shown in Chart Above) This dashboard gives you a fast, visual summary of market trend and momentum across 5 timeframes. Here's what it's telling you right now: 🕔 5 Minute (5m) 📉 EMA Trend: Down 🔼 Price: Above VWAP Direction: Bearish (42) 🟥 Weak bearish bias. Short-term pullback against a stronger trend. Use caution — lower confidence and mixed structure. ⏱️ 15 Minute (15m) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (73) 🟩 Clean bullish structure with growing momentum. Solid for intraday confirmation. 🕧 30 Minute (30m) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (77) 🟩 Stronger trend forming. Above VWAP and EMAs — building conviction. 🕐 1 Hour (1h) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (70) 🟩 Confident, clean trend. Good alignment across indicators. Ideal timeframe for swing entries. 🕓 4 Hour (4h) 🔥 Strong Candle 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (100) 🟩 Full trend alignment with max momentum. Strong body candle + structure — high confidence continuation. 🧠 Quick Takeaway 🔻 5m is pulling back short term ✅ 15m through 4h are fully aligned Bullish 🔥 4h has max confidence — big-picture trend is intact 📈 Ideal setup for momentum traders looking to ride trend with multi-timeframe confirmation Try pinning this dashboard to your chart during live trading to read price like a story across timeframes, and filter out weak setups with low-confidence noise.
مؤشر Pine Script®
من ‎Daniel_Vin‎
1
Inside 4+ Candles Box (Entry + Target + SMA Stop Logic)🔍 What This Script Does This indicator detects price compression areas using 4 or more consecutive inside candles, then draws a breakout box to visually highlight the range. Once price closes above the box, a long entry marker is plotted, along with: 🎯 Target line at 1x box size above the breakout. ❌ Stop-loss at the box low or at a dynamic SMA-based level if the box is too large. 🧠 Why It’s Unique This script combines inside bar compression, breakout logic, risk control, and visual clarity — all in one tool. It also cancels the setup entirely if price closes below the box low before breakout, avoiding late or false entries. ⚙️ Customizable Settings Minimum inside candles (default = 4) SMA length (used as stop if box is large) Box size % threshold to activate smart stop Entry, Target, and Stop marker colors 📌 Notes For long setups only (no short signals). Use on any asset or timeframe (ideal on 4H/1D). This is not financial advice. Use with proper risk management. Backtest thoroughly before live use. Built with ❤️ by using Pine Script v6. 🇸🇦 وصف مختصر باللغة العربية: هذا المؤشر يكتشف مناطق تماسك السعر من خلال 4 شموع داخلية أو أكثر، ثم يرسم مربعًا يحدد منطقة الاختراق المحتملة. عند الإغلاق أعلى المربع، يتم عرض إشارة دخول وسطر هدف بنسبة 100% من حجم المربع. كما يتم احتساب وقف الخسارة تلقائيًا إما عند قاع المربع أو عند متوسط متحرك ذكي (SMA) إذا كان حجم المربع كبيرًا. الميزة الإضافية: إذا تم كسر قاع المربع قبل الاختراق، يتم إلغاء الصفقة تلقائيًا لتجنب الدخول المتأخر. 🧪 للاستفادة التعليمية والتحليل فقط. لا يُعتبر توصية مالية.
مؤشر Pine Script®
من ‎abusuhil‎
Candle Bias ForecastCandle Bias Forecast Indicator Description: The Candle Bias Forecast Indicator is an original multi‐timeframe analysis tool that generates price forecast levels based on the difference between candle biases on two different timeframes. It uses innovative calculations to provide potential forecast levels that align with current price action. How It Works: 1. Candle Bias Calculation: For each candle, the indicator computes a “candle bias” using the formula: candleBias = (((open + close)/2 - (high + low)/2) + ((close - open)/(high - low)))/2 This measure captures both the positioning of the candle’s body within its range and the normalized move from open to close. 2. Multi-Timeframe Analysis: The script uses multiple timeframe pairs (e.g., 5-minute vs. 30-minute, 10-minute vs. 60-minute, etc.). For each pair, the bias is computed on the lower timeframe and on the higher timeframe. 3. Normalization with ATR: To translate the dimensionless bias difference into price terms, the indicator multiplies the difference by the lower timeframe’s Average True Range (ATR). This scales the forecast adjustment to current market volatility. 4. Forecast Computation: The forecast level for each pair is then calculated as: forecast = close + (lowerTF_ATR * (lowerTF_bias - higherTF_bias)) This yields forecast levels that are plotted on the chart and connected by lines for a visual guide. How to Use: - Visual Confirmation: Add the indicator to your 1 to 15 minute chart to see forecast levels overlaid on the price. - Supplementary Analysis: Use these forecast levels as an additional tool alongside your other analysis methods. They can help indicate potential support/resistance areas or directional bias. Important Notes: - Not a Standalone Signal: This indicator is intended to supplement your analysis. Always combine it with other tools and sound risk management practices. - For Educational & Research Use: The indicator is provided “as is” without any guarantee of performance. It is designed to illustrate an innovative approach to multi-timeframe analysis. - Disclaimer: Past performance is not indicative of future results. Use this tool at your own risk. By combining candle bias with ATR-based normalization and multi-timeframe analysis, this indicator offers a unique perspective on market dynamics that can enrich your trading strategy. --- *This is an original script designed to add value to the TradingView community. Please test and validate its outputs thoroughly before using it in live trading.*
مؤشر Pine Script®
من ‎Tradenometry‎
Enhanced Interval Candle with Breakout Detection and Detailed InThis indicator visualizes the last candle of a user-defined time interval (e.g., 1 hour, 4 hours, 1 day) on the current chart, providing enhanced details and breakout detection. It fetches the open, high, low, and close prices of the interval candle and draws a stylized representation of it, offset to the right of the current bar. The candle body and wicks are colored according to whether the interval candle closed bullishly (green) or bearishly (red). In addition to the candle itself, the indicator displays horizontal dotted lines representing the high, low, and midpoint of the interval candle, along with labels showing their exact values. These labels are dynamically updated as the interval candle changes. Furthermore, the script detects and visualizes breakouts of the interval candle's high or low. When the current price closes above the interval high, a green dashed line and a "Bullish Breakout" label are displayed. Conversely, when the current price closes below the interval low, a red dashed line and a "Bearish Breakout" label are shown. The breakout lines and labels are also dynamically updated. This indicator helps traders easily track the price action of a higher timeframe candle and spot potential breakouts based on that candle's range. The user can configure the time interval to suit their trading needs.
مؤشر Pine Script®
من ‎nextor_j_d‎
CHAKRA RISS ENGULFING CANDLESTICK STRATEGYChakra RISS Engulfing Candlestick Strategy Type: Technical Indicator & Strategy Platform: TradingView Script Version: Pine Script v6 Overview: The Chakra RISS Engulfing Candlestick Strategy combines a momentum-based approach using the Relative Strength Index (RSI) with Engulfing Candlestick Patterns to generate buy and sell signals. The strategy filters trades based on price movement relative to a 50-period Simple Moving Average (SMA), making it a trend-following strategy. The indicator uses color-coded bars to visually represent market conditions, helping traders easily identify bullish and bearish trends. The strategy is designed to be dynamic, adapting to changing market conditions and filtering out noise using key technical indicators. How It Works: RSI-Based Color Conditions: Green Bars: When the RSI crosses above a specified UpLevel (default: 50), indicating a bullish momentum and signaling potential buy conditions. Red Bars: When the RSI crosses below a specified DownLevel (default: 50), indicating a bearish momentum and signaling potential sell conditions. Buy Signal: Triggered when the following conditions are met: RSI crosses from below the UpLevel (default: 50) to above it, signaling increasing bullish momentum. The close price is above the 50-period Simple Moving Average (SMA), confirming an uptrend. The Buy Signal is plotted below the bar with a green arrow and a "BUY" label. Sell Signal: Triggered when the following conditions are met: RSI crosses from above the DownLevel (default: 50) to below it, signaling increasing bearish momentum. The close price is below the 50-period Simple Moving Average (SMA), confirming a downtrend. The Sell Signal is plotted above the bar with a red arrow and a "SELL" label. Stop Loss and Take Profit: For long trades (buy signals), the stop loss is placed below the previous bar's low, and the take profit is set at 3% above the entry price. For short trades (sell signals), the stop loss is placed above the previous bar's high, and the take profit is set at 3% below the entry price. Dynamic Bar Coloring: The bar colors change dynamically based on RSI levels: Green Bars: Indicating a potential uptrend (bullish). Red Bars: Indicating a potential downtrend (bearish). These visual cues help traders quickly identify market trends and potential reversals. Trend Filtering: The 50-period Simple Moving Average (SMA) is used to filter trades based on the overall market trend: Buy signals are only considered when the price is above the moving average, indicating an uptrend. Sell signals are only considered when the price is below the moving average, indicating a downtrend. Alerting System: Alerts can be set for both buy and sell signals. These alerts notify traders in real-time when potential trades are generated, allowing them to act promptly. Alerts can be configured to send notifications through email, SMS, or a webhook for integration with other services like IFTTT or Zapier. Key Features: RSI and Moving Average-Based Signals: Combines RSI with a moving average for more accurate trade signals. Stop Loss and Take Profit: Dynamic risk management with custom stop loss and take profit levels based on previous high and low prices. Buy and Sell Alerts: Provides real-time alerts when a buy or sell signal is triggered. Trend Confirmation: Uses the 50-period Simple Moving Average to filter signals and confirm the direction of the trend. Visual Bar Color Changes: Makes it easy to identify bullish or bearish trends with color-coded bars. Usage: This strategy is suitable for traders who prefer a trend-following approach and want to combine momentum indicators (RSI) with price action (Engulfing Candlestick patterns). It is particularly useful in volatile markets where quick identification of trend changes can lead to profitable trades. Best Used For: Day trading, swing trading, and trend-following strategies. Timeframes: Works well on various timeframes, from 1-minute charts for scalping to daily charts for swing trading. Markets: Can be applied to any market with sufficient liquidity (stocks, forex, crypto, etc.). Settings: UpLevel: The RSI level above which the market is considered bullish (default: 50). DownLevel: The RSI level below which the market is considered bearish (default: 50). SMA Length: The period of the Simple Moving Average used to filter trades (default: 50). Risk Management: Customizable stop loss and take profit settings based on price action (default: 3% above/below the entry price).
مؤشر Pine Script®
من ‎Tradewith_Riss‎
3
Period Separator & Candle OHLCThis script combines two powerful tools for traders: period separators and custom timeframe-based OHLC (Open, High, Low, Close) data visualization. Here's what it does: Period Separators: The script draws vertical lines to indicate the start of new time periods based on a user-defined timeframe (e.g., hourly, daily, weekly). Users can customize the separator color, line style (solid, dashed, dotted), and width to suit their preferences. Fetches OHLC data from a higher or custom timeframe (e.g., 4 hours) and overlays it on the current chart. Users can choose to display the open, high, low, and close prices as dots or circles for easy visualization. Optionally, the open and close dots can be visually connected with a filled bar for a candlestick-like effect. The script color-codes the close price relative to the open (green if higher, red if lower) to highlight price direction at a glance. Fully Customizable: Users have full control over which OHLC values to display and whether the dots should be filled. Transparency settings for plotted dots and fills are also adjustable for optimal visibility on different chart styles. How It Is Useful for Trading: Timeframe Analysis: The period separators make it easy to distinguish trading activity across custom time intervals. This is crucial for intraday, swing, and long-term traders who analyze price movements within specific periods. Multi-Timeframe Insights: By overlaying OHLC data from a higher timeframe on a lower timeframe chart, traders can identify key support and resistance levels, pivots, and trends that are not immediately visible on the current timeframe. Trend Recognition: The color-coded close dots (green for bullish, red for bearish) provide an instant visual cue of market sentiment, helping traders confirm or refute their bias. Whether you're a scalper, day trader, or position trader, the flexibility in timeframe selection, styling, and data presentation ensures this tool can adapt to your trading strategy.
مؤشر Pine Script®
من ‎princessbethel‎
2
Candlestick Strength and Volatility ReadoutDisplays a readout on the top right corner of the screen displaying a two basic calculations (volatility and strength; i.e. candlestick size and how close to the highs or lows it closed) for more convenient candlestick (price action) analysis. Due to restrictions with Pine Script (or my knowledge thereof) only the current and previous candlestick data is shown, rather than the one currently hovered over. The data is derived via two simple calculations; volatility being division between the range of the candlestick's high and low by the ATR; 'strength' (what I like to call it) being the range of the body by the range of the open to high or low, depending on the facing direction (positive or negative candlestick). These are expressed as percentages and will turn green depending on the set threshold. Using this, one can effectively automate calculations you'd have to do by hand otherwise. I personally use these as entry filters in my trading, so it helps to not have to measure, remeasure, and divide before each potential entry. Settings are implemented to change certain variables to your liking.
مؤشر Pine Script®
من ‎Zachx_618‎
ICT Single Candle Order Block (SCOB) [UAlgo]The "ICT Single Candle Order Block (SCOB) " designed for traders who utilize the concept of Order Blocks in their trading strategy. Order Blocks are significant price levels where institutions or smart money have placed their trades, leading to potential future price reactions when these levels are revisited. This indicator focuses on identifying and highlighting Single Candle Order Blocks (SCOBs), allowing traders to visually analyze key price levels on their charts. 🔶 What is Single Candle Order Block (SCOB) ? A Single Candle Order Block (SCOB) is a specific type of Order Block that is identified based on a single candlestick pattern. These patterns indicate potential areas where significant buying or selling interest has occurred, often leading to a notable price reaction when revisited. In the context of this indicator, a bullish SCOB is identified when a specific bullish candlestick pattern is met, and a bearish SCOB is identified based on a bearish candlestick pattern. Bullish SCOB: Detected when the open price of two bars ago is higher than its close, the close price of the previous bar is higher than its open, the current close price is higher than the open, the low of the previous bar is lower than the low of two bars ago, and the current close is higher than the high of the previous bar. Bearish SCOB: Detected when the open price of two bars ago is lower than its close, the close price of the previous bar is lower than its open, the current close price is lower than the open, the high of the previous bar is higher than the high of two bars ago, and the current close is lower than the low of the previous bar. 🔶 Key Features Show Single Candle Order Block (SCOB): Toggle the visibility of the Single Candle Order Blocks on the chart. Mitigation Method: Choose between "Close" and "Wick" methods for determining whether a SCOB has been mitigated (price has interacted with the block). Show Last X SCOBs: Control the number of most recent SCOBs displayed on the chart, allowing you to focus on the most relevant price levels. Volatility Filter: Enable or disable the volatility filter, which uses the Average True Range (ATR) to filter out less significant SCOBs. When enabled, only SCOBs with an ATR above the mean value of the ATR are displayed. Customizable Colors: Configure the colors for bullish and bearish SCOBs to enhance visual clarity. The indicator uses cooler RGB values to ensure the blocks are distinct and easily noticeable. 🔶 Disclaimer The "ICT Single Candle Order Block (SCOB) " indicator is provided for educational and informational purposes only. Trading involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should use this indicator in conjunction with their own research and trading strategy.
مؤشر Pine Script®
من ‎UAlgo‎
31
Harmony or Divergence Single CandleThis script is designed for traders who seek to visually identify and analyze patterns of harmony and divergence in the price action of securities directly on their trading charts. The script provides a nuanced approach to understanding market sentiment and potential price movement directions by examining candle sizes and volumes over a specified lookback period. What the Script Does: The script overlays indicators on the price chart that highlight periods of harmony and divergence using background colors. These periods are determined based on comparisons between current candle sizes, candle volumes, and their respective simple moving averages (SMAs) over a user-defined lookback period. Harmony : A state where the candle size and volume are either both above or below their respective averages, indicating a consensus or agreement in market direction. Divergence : A state where there's a mismatch, such as a larger candle size with lower volume or vice versa, suggesting uncertainty or potential reversal in market trends. How It Does It: User Inputs : Traders can customize several parameters, including the lookback period for averages, whether to include wicks in candle size calculations, and preferences for displaying harmony and divergence indicators with specific colors. Calculations : - The script calculates the simple moving average (SMA) of volume and candle sizes (with an option to consider the full candle range including wicks or just the body) over the specified lookback period. - It then compares the current candle's size and volume against these averages to identify states of harmony or divergence. Visualization : - Based on the user's input, it colors the background of the chart to reflect identified patterns. Each state (harmony above or below average, divergence with higher volume or larger candle body) can be highlighted with different colors, providing immediate visual cues to the trader. What Traders Can Do With the Script: Traders can utilize this script to enhance their technical analysis by: Identifying Trend Consistency : Harmony indicators can signal strong trends where price action and volume confirm each other, possibly supporting continuation strategies. Spotting Potential Reversals : Divergence indicators may highlight potential exhaustion points or reversals, especially when price moves significantly without corresponding volume support. Customizing Analysis : By adjusting the lookback period, candle size consideration (body or including wicks), and visualization options, traders can tailor the analysis to fit their trading style and strategy.
مؤشر Pine Script®
من ‎GreatestUsername‎
1
ADX and DI (Colored Candles Open-Source)The "ADX and DI (Colored Candles Open-Source)" indicator is a technical analysis tool used in trading. It utilizes the Average Directional Index (ADX) and the Directional Movement Indicators (+DI and -DI) to assess the strength and direction of a price trend. The ADX is calculated based on a 14-period lookback and is displayed as a histogram. The color of the ADX histogram varies depending on the ADX value and the relative positions of +DI and -DI. Green and purple colors represent bullish and bearish trends respectively, with variations in shades indicating trend strength. Yellow and red colors indicate potential trend exhaustion for bullish and bearish trends, respectively, when ADX is above 50. Gray color is used when ADX is below 10, indicating a neutral trend. Additionally, the script plots +DI and -DI lines with a fill between them to visually represent their crossover. Horizontal dotted lines are drawn at key ADX levels (0, 10, 25, 50) for reference. The candles on the chart are also colored to match the ADX histogram, providing a clear visual representation of the market trend.
مؤشر Pine Script®
من ‎dudeowns‎
1
Pullback and Throwback Candle [TrendX_]Pullback and Throwback candles can help traders determine the the potential reversal points USAGE The indicator identifies pullback and throwback in overbought and oversold zones by measuring the distance between the price and its relative strength index. A Pullback is an expected rebound in a downtrend (painted in green area), while a Throwback is a bounceback from an uptrend (painted in red area). The strategy is useful for valuing reversal points. Accordingly, it can also be helpful for traders to use alongside other Technical Analysis indicators. DISCLAIMER This indicator is not financial advice, it can only help traders make better decisions. There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur. Therefore, one should always exercise caution and judgment when making decisions based on past performance.
مؤشر Pine Script®
من ‎TrendX_‎