Sweep Candle [odnac]

Feb 8

• ATR Imbalance Detection
  

  This feature highlights candles that have a significantly larger range compared to the average true range (ATR).
  
  How it works: A candle is considered imbalanced if its range (high - low) exceeds a specified multiple of the ATR (default multiplier is 1.5, with an ATR length of 5).
  
  Visualization: Such candles are highlighted in yellow.
  

• Engulfing Candle Detection
  

  This feature detects bullish and bearish engulfing candles.
  
  Types
  Standard: Traditional engulfing pattern where the current candle fully "engulfs" the previous one.
  Sweep: A variation where the candle engulfs the previous one and sweeps the previous low (for bullish) or high (for bearish).
  
  Visualization:
  Bullish engulfing patterns are marked with a green triangle below the candle.
  Bearish engulfing patterns are marked with a red triangle above the candle.
  

• Momentum Candle Detection
  

  This feature identifies candles with strong upward or downward momentum compared to the previous candle.
  
  Types
  Standard: A basic momentum pattern where the current candle continues the price direction with strong momentum.
  Sweep: A variation where the candle sweeps the previous low (for bullish) or high (for bearish).
  
  Visualization:
  Bullish momentum candles are marked with a green circle below the candle.
  Bearish momentum candles are marked with a red circle above the candle.
  

• Summary
  

  This indicator helps traders identify significant market conditions such as imbalances, engulfing candles, and momentum patterns, making it a valuable tool for technical analysis and trend-following strategies.
  The customizable settings provide flexibility to adapt the tool to different trading styles.
  

Feb 14

Release Notes

Update: Alert Function Added
This update introduces alert functionality for Sweep and Standard candle patterns.

1. All-Candles : Alerts for all detected patterns (Sweep & Standard)
   
2. All-Sweep Candles : Alerts for all Sweep candles (Engulfing & Momentum)
   
3. All-Standard Candles : Alerts for all Standard candles (Engulfing & Momentum)
   
4. Sweep-Engulfing : Alerts for Sweep Engulfing patterns
   
5. Sweep-Momentum : Alerts for Sweep Momentum patterns
   
6. Standard-Engulfing : Alerts for Standard Engulfing patterns
   
7. Standard-Momentum : Alerts for Standard Momentum patterns