OPEN-SOURCE SCRIPT
Updated Candle body break (WD4H1H)
When the body of a candlestick breaks on the weekly, daily, 4-hour, and 1-hour charts, a sign and horizontal line will be displayed. The alert corresponds to the break of the 1-hour chart, and although there are some places where it is not displayed accurately, it may be useful as a guide when determining whether a bottom or peak is forming.
Release Notes
This indicator automatically detects candle body breaks on weekly, daily, 4-hourly, and 1-hourly charts, and draws horizontal lines at the highs and lows at the time of the break. It also displays a table listing the most recent break direction (upward ⇧/downward ⇩), allowing you to see the break status across multiple time frames at a glance.*This is a more robust version of the previous logic.
Open-source script
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.
Disclaimer
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.
Open-source script
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.
Disclaimer
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.