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Momentum Flow Module 1 (Bar/Candlestick Classification)
Every candlestick on the chart can be categorized as either a trend bar or a trading range bar. Trend bars are further classified as significant or insignificant, while trading range bars are divided into inside, outside, overlap, reversal, and implied reversal types. This indicator automatically identifies and labels each category to help traders make more informed decisions. For instance, a sequence of significant bearish trend bars within an ongoing bull trend indicates weakening bullish momentum. Similarly, if a bull trend lacks strong bull trend bars, it suggests diminishing buying pressure or the early signs of a potential reversal
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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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.