PROTECTED SOURCE SCRIPT
Candle Number Analysis
Updated
Author: Marek Zatwarnicki
Inspired by: -
Category: Technical Analysis
Type: Indicator
Timeframe: 4H - 1MONTH
Index: ALL
About:
The indicator allows to examine the number of historical occurrences of candles in a given color, evaluate the risk and analyze returns of the next candle.
How to use:
Check with plotline how many candles of a given color have occurred so far and use the table to evaluate the risk.
Formula:
- Returns - ((close / open) - 1) * 100
- Returns Culminative - close / open
Overfitting: Overfitting free. Research only.
Disclaimer: Past good results do not guarantee future trading success. Please use the algorithm with caution and support it with your knowledge. Published algorithm decisions are not financial advice.
Inspired by: -
Category: Technical Analysis
Type: Indicator
Timeframe: 4H - 1MONTH
Index: ALL
About:
The indicator allows to examine the number of historical occurrences of candles in a given color, evaluate the risk and analyze returns of the next candle.
How to use:
Check with plotline how many candles of a given color have occurred so far and use the table to evaluate the risk.
Formula:
- Returns - ((close / open) - 1) * 100
- Returns Culminative - close / open
Overfitting: Overfitting free. Research only.
Disclaimer: Past good results do not guarantee future trading success. Please use the algorithm with caution and support it with your knowledge. Published algorithm decisions are not financial advice.
Release Notes
- Change of names appearing in the tableRelease Notes
- Changes of the structureProtected script
This script is published closed-source and you may privately use it freely.
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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.