OPEN-SOURCE SCRIPT
Body & Volume-Based Buy/Sell Signals (5min 1.5M Vol)
Only for 5 min and Volume 1.5M
Conditions (Summarized)
🔹 BUY Signal
Previous candle is red: close[1] < open[1]
Current candle is green: close > open
Previous candle body is smaller than current:
abs(close[1] - open[1]) < abs(close - open)
Previous candle body size ≥ 10 points
Both candles' volume ≥ minVolume (default: 2,000,000)
➜ Plot BUY below green candle
🔸 SELL Signal
Previous candle is green: close[1] > open[1]
Current candle is red: close < open
Previous candle body is smaller than current:
abs(close[1] - open[1]) < abs(close - open)
Previous candle body size ≥ 10 points
Both candles' volume ≥ minVolume
➜ Plot SELL above red candle
Conditions (Summarized)
🔹 BUY Signal
Previous candle is red: close[1] < open[1]
Current candle is green: close > open
Previous candle body is smaller than current:
abs(close[1] - open[1]) < abs(close - open)
Previous candle body size ≥ 10 points
Both candles' volume ≥ minVolume (default: 2,000,000)
➜ Plot BUY below green candle
🔸 SELL Signal
Previous candle is green: close[1] > open[1]
Current candle is red: close < open
Previous candle body is smaller than current:
abs(close[1] - open[1]) < abs(close - open)
Previous candle body size ≥ 10 points
Both candles' volume ≥ minVolume
➜ Plot SELL above red candle
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.