OPEN-SOURCE SCRIPT
Candle Shape
Candle Shape
This indicator visualizes rolling candles that aggregate price action over a chosen lookback period, allowing you to see how OHLC dynamics evolve in real time.
Instead of waiting for a higher timeframe (HTF) bar to close, you can track its development directly from a lower timeframe chart.
For example, view how a 1-hour candle is forming on a 1-minute chart — complete with rolling open, high, low, and close levels, as well as colored body and wick areas.
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🔹 How it works
- Lookback Period (n) → sets the bucket size, defining how many bars are merged into a “meta-candle.”
- The script continuously updates the meta-open, meta-high, meta-low, and meta-close.
- Body and wick areas are filled with color, making bullish/bearish transitions easy to follow.
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🔹 Use cases
- Monitor the intra-development of higher timeframe candles.
- Analyze rolling OHLC structures to understand how price dynamics shift across different aggregation windows.
- Explore unique perspectives for strategy confirmation, breakout anticipation, and market structure analysis.
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✨ Candle Shape bridges the gap between timeframes and uncovers new layers of price interaction.
This indicator visualizes rolling candles that aggregate price action over a chosen lookback period, allowing you to see how OHLC dynamics evolve in real time.
Instead of waiting for a higher timeframe (HTF) bar to close, you can track its development directly from a lower timeframe chart.
For example, view how a 1-hour candle is forming on a 1-minute chart — complete with rolling open, high, low, and close levels, as well as colored body and wick areas.
---
🔹 How it works
- Lookback Period (n) → sets the bucket size, defining how many bars are merged into a “meta-candle.”
- The script continuously updates the meta-open, meta-high, meta-low, and meta-close.
- Body and wick areas are filled with color, making bullish/bearish transitions easy to follow.
---
🔹 Use cases
- Monitor the intra-development of higher timeframe candles.
- Analyze rolling OHLC structures to understand how price dynamics shift across different aggregation windows.
- Explore unique perspectives for strategy confirmation, breakout anticipation, and market structure analysis.
---
✨ Candle Shape bridges the gap between timeframes and uncovers new layers of price interaction.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.