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AHS_Histograms V2.0
AHS_Histograms V2.0 Indicator
Summary:
The "AHS_Histograms V2.0" is a custom TradingView indicator designed to identify and visualize bullish and bearish conditions based on Internal Bar Strength (IBS), the relationship between the body and range of candles, and the overlap between consecutive bars. The indicator plots histograms with colors indicating bullish or bearish conditions and can optionally highlight climax bars.
Usage:
1. Bullish and Bearish IBS Filters:
- Bullish IBS Filter: Set the threshold for identifying bullish conditions. Higher values (closer to 100) indicate stronger bullish signals.
- Bearish IBS Filter: Set the threshold for identifying bearish conditions. Lower values (closer to 0) indicate stronger bearish signals.
2. Body Range Filter:
- Define the minimum proportion of the candle's range that should be its body to qualify as a significant bar. This helps filter out insignificant price movements.
3. Overlap Filter:
- Set the maximum allowed overlap between consecutive bars. This can help identify cleaner trend movements. Setting this to 101 disables the overlap filter.
4. Climax Bars:
- Enable/Disable Climax Bars: Toggle the option to highlight climax bars, which are identified based on significant differences in high/low distances between consecutive bars.
- Climax Factor: Adjust the factor used to determine climax bars.
Visuals:
- Histogram Colors:
- **Bullish Bars**: Plotted in blue when conditions meet the bullish IBS threshold, body range filter, and overlap filter.
- Bearish Bars: Plotted in red when conditions meet the bearish IBS threshold, body range filter, and overlap filter.
- Neutral Bars: Plotted in black when none of the conditions are met or if climax bars are detected and the climax toggle is on.
Steps to Use:
1. Add the "AHS_Histograms V2.0" indicator to your TradingView chart.
2. Adjust the input parameters according to your trading strategy and preferences:
- Set your desired values for bullish and bearish IBS filters.
- Configure the body range and overlap filters.
- Optionally, enable and configure the climax bar detection.
3. Observe the histogram colors on the chart:
- Blue Histograms: Indicate bullish conditions.
- Red Histograms: Indicate bearish conditions.
- Black Histograms: Indicate neutral conditions or climax bars if enabled.
4. Use the visual cues from the histograms to inform your trading decisions based on the defined criteria.
This indicator helps traders quickly identify potential bullish and bearish signals in the market, providing a visual tool to enhance trading strategies.
Summary:
The "AHS_Histograms V2.0" is a custom TradingView indicator designed to identify and visualize bullish and bearish conditions based on Internal Bar Strength (IBS), the relationship between the body and range of candles, and the overlap between consecutive bars. The indicator plots histograms with colors indicating bullish or bearish conditions and can optionally highlight climax bars.
Usage:
1. Bullish and Bearish IBS Filters:
- Bullish IBS Filter: Set the threshold for identifying bullish conditions. Higher values (closer to 100) indicate stronger bullish signals.
- Bearish IBS Filter: Set the threshold for identifying bearish conditions. Lower values (closer to 0) indicate stronger bearish signals.
2. Body Range Filter:
- Define the minimum proportion of the candle's range that should be its body to qualify as a significant bar. This helps filter out insignificant price movements.
3. Overlap Filter:
- Set the maximum allowed overlap between consecutive bars. This can help identify cleaner trend movements. Setting this to 101 disables the overlap filter.
4. Climax Bars:
- Enable/Disable Climax Bars: Toggle the option to highlight climax bars, which are identified based on significant differences in high/low distances between consecutive bars.
- Climax Factor: Adjust the factor used to determine climax bars.
Visuals:
- Histogram Colors:
- **Bullish Bars**: Plotted in blue when conditions meet the bullish IBS threshold, body range filter, and overlap filter.
- Bearish Bars: Plotted in red when conditions meet the bearish IBS threshold, body range filter, and overlap filter.
- Neutral Bars: Plotted in black when none of the conditions are met or if climax bars are detected and the climax toggle is on.
Steps to Use:
1. Add the "AHS_Histograms V2.0" indicator to your TradingView chart.
2. Adjust the input parameters according to your trading strategy and preferences:
- Set your desired values for bullish and bearish IBS filters.
- Configure the body range and overlap filters.
- Optionally, enable and configure the climax bar detection.
3. Observe the histogram colors on the chart:
- Blue Histograms: Indicate bullish conditions.
- Red Histograms: Indicate bearish conditions.
- Black Histograms: Indicate neutral conditions or climax bars if enabled.
4. Use the visual cues from the histograms to inform your trading decisions based on the defined criteria.
This indicator helps traders quickly identify potential bullish and bearish signals in the market, providing a visual tool to enhance trading strategies.
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.