OPEN-SOURCE SCRIPT
Candlestick normalizer + MA's Crossing Signaling
Updated
Well, after 25 tries I finally did it ._.
Here is the candlestick normalizer I was trying to achieve. In this way you can do a fast and not biased by price candlestick analysis, for example to catch engulfish and doji's on the go ;)
I also added a MAs crossing-over signal I optimized.
Btw, I will try to add volume signaling on this indicator. I had been thinking in 2 options:
1) Maybe as a colour/unfilled bar when volume exceed average
2) Represent the volume on the width of the candlestick.
What do you prefer? Let me know.
I hope you enjoy it!
Phi it.
Here is the candlestick normalizer I was trying to achieve. In this way you can do a fast and not biased by price candlestick analysis, for example to catch engulfish and doji's on the go ;)
I also added a MAs crossing-over signal I optimized.
Btw, I will try to add volume signaling on this indicator. I had been thinking in 2 options:
1) Maybe as a colour/unfilled bar when volume exceed average
2) Represent the volume on the width of the candlestick.
What do you prefer? Let me know.
I hope you enjoy it!
Phi it.
Release Notes
#Added CMF, a kind of Volume-Weighted RSI oscillator.You can study convergence and divergences with this oscillator aswell.
My main idea was to work a trend strength indicator to ease price action, volume, and candlestick analysis.
I will keep optimizing it.
Hope you enjoy it!
Release Notes
#Corrected the CMF position to ease the interpretation on large scales.Release Notes
#Optimized CMF @ 50 as it's zero, scaled to Candlestick normalization.Yellow Divergences as examples.
Release Notes
#Added Red-Down Arrows for Bearish Candle Patterns#Added Green-Up Arrows for Bullish Candle Patterns
#Added White-Star for Indecisive Doji Candles (+Red-Down Arrow when Doji is Bearish)
Hope you enjoy it ;)
Release Notes
#Added more CandlesticksViolet = Divergences on CMF
Release Notes
#Changed Bullish engulfish's lime to green colour#Changed Bearish engulfish's red to maroon colour
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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