OPEN-SOURCE SCRIPT
Abnormal Candle Detector
Abnormal Candle Detector
The Abnormal Candle Detector identifies sudden and unusual price movements by comparing the current candle's size and volume to recent averages. It highlights candles that deviate significantly from normal market behavior, helping traders spot breakouts, reversals, or high-impact events.
Features:
1. Abnormal Size Detection: Flags candles where the range (high-low) exceeds a user-defined multiplier of the average range.
2. Volume Confirmation: Optionally ensures abnormal movements are backed by higher-than-average volume.
3. Visual Markers:
Green triangles for bullish abnormal candles.
Red triangles for bearish abnormal candles.
Background highlights for better visibility.
4. Alerts: Real-time notifications when abnormal candles are detected.
Why Use It?
Spot early breakouts or trend reversals.
Identify high-impact events driven by news or institutional activity.
Filter noise and focus on significant market movements.
Customizable for any market or timeframe, the Abnormal Candle Detector is perfect for traders who want to stay ahead of major price action.
The Abnormal Candle Detector identifies sudden and unusual price movements by comparing the current candle's size and volume to recent averages. It highlights candles that deviate significantly from normal market behavior, helping traders spot breakouts, reversals, or high-impact events.
Features:
1. Abnormal Size Detection: Flags candles where the range (high-low) exceeds a user-defined multiplier of the average range.
2. Volume Confirmation: Optionally ensures abnormal movements are backed by higher-than-average volume.
3. Visual Markers:
Green triangles for bullish abnormal candles.
Red triangles for bearish abnormal candles.
Background highlights for better visibility.
4. Alerts: Real-time notifications when abnormal candles are detected.
Why Use It?
Spot early breakouts or trend reversals.
Identify high-impact events driven by news or institutional activity.
Filter noise and focus on significant market movements.
Customizable for any market or timeframe, the Abnormal Candle Detector is perfect for traders who want to stay ahead of major price action.
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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Disclaimer
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