OPEN-SOURCE SCRIPT
70% rule strength/trend/reversal
This indicator tells you which candle closed strong for the day by identifying if the price closed above 70% of the candle's total height. this can help you identify reversals/new trends/ renewed strength in the current trend.
The indicator colors such candle green and if the candle closes with increase in price by 5% or higher then marks an asterisk under the candle.
HOPE THIS HELPS
The indicator colors such candle green and if the candle closes with increase in price by 5% or higher then marks an asterisk under the candle.
HOPE THIS HELPS
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.
Want to use this script on a chart?
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.