OPEN-SOURCE SCRIPT
KeitoFX Dynamic Indicator Free vers.
Updated
This script represents a versatile dynamic indicator called "KeitoFX Dynamic Indicator Free version." It is developed by the author "KeitoFX" and operates as a custom indicator overlaying on financial charts. The indicator utilizes a unique algorithm to dynamically identify bullish and bearish candlestick patterns with specific criteria.
Key Features:
- The indicator visually marks bullish and bearish candlestick patterns using triangle shapes, providing quick visual cues to traders.
- Bullish patterns are detected when the closing price is higher than the opening price and the high and low prices of the candlestick form a narrow range.
- Bearish patterns are identified when the closing price is lower than the opening price, and the high and low prices also form a narrow range.
The indicator incorporates flexible settings that users can customize to fit their trading preferences:
- Users can choose the table's placement, either at the "Top Right," "Middle Right," or "Bottom Right" of the chart.
- Customizable dimensions for the width and height of the table are available.
- Adjustable text size settings ranging from "Auto" to "Huge" are provided for the displayed text.
- A descriptive table containing trading rules and conditions is optionally displayed below the price chart.
Additional Information:
- The indicator's color scheme is harmonious, with shades of purple and neutral tones.
- The "Require FVG" setting influences the pattern detection's sensitivity.
- A dynamic standard deviation is calculated based on the selected displacement settings and historical candle ranges.
- A "FVG" condition enhances pattern accuracy.
- Bullish and bearish pattern detection includes overlapping with other predefined arrays to increase pattern significance.
Note:
This indicator is provided under the Mozilla Public License 2.0, as indicated by the source code comment at the beginning of the script. Users are encouraged to review and comply with the license terms when using this indicator in their trading activities.
Key Features:
- The indicator visually marks bullish and bearish candlestick patterns using triangle shapes, providing quick visual cues to traders.
- Bullish patterns are detected when the closing price is higher than the opening price and the high and low prices of the candlestick form a narrow range.
- Bearish patterns are identified when the closing price is lower than the opening price, and the high and low prices also form a narrow range.
The indicator incorporates flexible settings that users can customize to fit their trading preferences:
- Users can choose the table's placement, either at the "Top Right," "Middle Right," or "Bottom Right" of the chart.
- Customizable dimensions for the width and height of the table are available.
- Adjustable text size settings ranging from "Auto" to "Huge" are provided for the displayed text.
- A descriptive table containing trading rules and conditions is optionally displayed below the price chart.
Additional Information:
- The indicator's color scheme is harmonious, with shades of purple and neutral tones.
- The "Require FVG" setting influences the pattern detection's sensitivity.
- A dynamic standard deviation is calculated based on the selected displacement settings and historical candle ranges.
- A "FVG" condition enhances pattern accuracy.
- Bullish and bearish pattern detection includes overlapping with other predefined arrays to increase pattern significance.
Note:
This indicator is provided under the Mozilla Public License 2.0, as indicated by the source code comment at the beginning of the script. Users are encouraged to review and comply with the license terms when using this indicator in their trading activities.
Release Notes
The provided Pine Script creates a dynamic indicator that overlays bullish and bearish arrow patterns on price bars. These patterns are based on specific conditions involving open, close, high, and low prices. The script also generates a customizable information table, positioned according to user preference, displaying instructions and rules. Users can adjust the table's dimensions, text size, and enable/disable individual rows. Additionally, custom text and background colors can be chosen for the table. The indicator aims to assist traders by highlighting patterns and providing instructional content within the TradingView chart interface.Release Notes
bug fixes:- fixed settings for table
- can now change color and background of the note depending on your color scheme
*soon adding some patch notes and other functionalities.
Release Notes
New updates and bug fixes:- Table Settings Fix: The settings for the table have been fixed to ensure proper functionality.
- Note Customization: Users can now customize the color and background of the notes to match their preferred color scheme.
- Patch Notes (Upcoming): The script will soon include patch notes, providing users with detailed information about updates and changes.
- Future Functionalities: The development team is actively working on adding new functionalities to further enhance the indicator's capabilities.
These updates aim to improve user experience, provide customization options, and ensure transparency about changes in the indicator.
Release Notes
Just did this update for the chart :>Release Notes
new color scheme :>Release Notes
Fixed issues:- it will now require a fvg on the dynamic candle
- updated algorithm to check the candle is dynamic
*more features to add in the future.
Release Notes
New update!:- new and clean algorithm to check the dynamic candles.
*SUITABLE ONLY FOR ENTRIES IN LTF (5m, 3m 1m)
Release Notes
added features:- dynamic candles can now only be viewed at the lower time frame (5m to 1m).
*more features will be added soon.
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
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.