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Candlestick analysis

ATR RS 10/11ATR RS — What it does (English) • Purpose: A compact risk-sizing helper that plots Daily ATR(10, RMA) in a separate panel and shows a live sizing summary (ATR used, Stop, Per-unit risk, Risk, Size, Bet). Works on any chart timeframe. • Daily ATR logic (robust intraday handling): – Before first trade of the session: use yesterday’s daily ATR only. – During the session (daily candle unconfirmed): use max(today’s daily ATR, yesterday’s daily ATR) to avoid underestimating volatility early in the day. – After the daily candle closes: use today’s daily ATR. • Stop rule (long bias): Stop = Today’s Daily Low − Multiplier × ATR_used • Position sizing: Per-unit risk = max(Entry − Stop, 0) × PointValue Raw size = RiskAmount / Per-unit risk Final size = floor(Raw size / LotSize) × LotSize (Optional cap via Max Position Cap; negatives coerced to 0.) • “Entry” price: current chart close (i.e., real-time last for intraday, or close for historical/confirmed bars). • Panel fields: – ATR(10): Daily ATR(10, RMA) – ATR used: the volatility value selected by the intraday rule above – Stop: computed stop price (you can snap to tick if desired) – Per-unit: risk per share/contract = (Entry − Stop) × PointValue – Risk: user input, account currency – Size: position size after lot rounding and cap – Bet: Entry × Size × PointValue • Inputs: – ATR Length (Daily RMA), Multiplier (for stop), Risk Amount, Point Value (stocks=1; futures=contract point value), Lot Size, Max Position Cap, Show summary table. • Notes: – Uses request.security(“D”, …) with no lookahead, so the same ATR is used consistently regardless of the chart timeframe. – If your venue has fractional ticks, consider snapping the Stop to tick size so labels and price markers match perfectly.
Pine Script® indicator
by turtlekim
52WH/last52WH/ATH/lastATHThis indicator calculates and displays four values: First, it calculates the current 52-week high and displays it as a line and in a table at the top right with the name, date, and price. Corresponding color markings are also displayed on the price scale. Next, the 52-week high that is at least 3 months ago is determined. The corresponding candle is also labeled with a date. This past high is also displayed as a line, on the price scale, and in the table. Next, the current all-time high is determined and also displayed as a line, on the price scale, and in the table. Finally, the current all-time high that was valid 3 months ago is determined and also displayed as a linewith a label at the corresponding bar, in the price scale, and in the table. All display values can be switched on or off in the view, and the corresponding colors of the displays can also be freely selected. (This script was developed by J. Heina, jochen.heina@gmail, in collaboration with the ChatGPT tool, taking into account the rules developed for trading by Mario Lüddemann Investments GmbH).
Pine Script® indicator
by JoeHunter7563
HTF Candle Overlay - PO3HTF Candle Overlay Script Description This Pine Script indicator creates a visual overlay of higher timeframe (HTF) candles on your chart. It's a useful tool for multi-timeframe analysis that allows you to see higher timeframe price action context directly on your current chart without having to switch between timeframes. Main Purpose The primary purpose of this indicator is to display candles from a higher timeframe (like daily or weekly) directly on your lower timeframe chart (like 5-minute or hourly). This provides crucial context about the larger market structure while you're analyzing shorter-term price movements. Key Features Higher Timeframe Selection: You can choose any higher timeframe from the available options (1-minute to monthly), allowing you to view price action from any timeframe higher than your current chart. Customizable Appearance: Control the number of HTF candles displayed (1-10) Adjust the spacing between the candles and current price Modify candle width for better visibility Customize colors for bullish and bearish candles, wicks, and borders Real-time Updates: The current (ongoing) HTF candle updates in real-time as new price data comes in, showing you how the higher timeframe candle is developing. Time Remaining Display: An optional label shows the current HTF period and how much time remains until the candle closes, helping you time your entries and exits. Visual Warnings: The script warns you if you select a timeframe that matches your current chart timeframe. How It Works Data Retrieval: The script fetches both the current developing candle and historical candles from the selected higher timeframe using request.security() calls. Candle Processing: It stores candle data (open, high, low, close, and time) in arrays Handles both the current developing candle and past completed candles Updates the current candle in real-time as new price data comes in Visual Rendering: Draws candle bodies as boxes with appropriate bullish/bearish colors Creates wicks as lines extending from the candle bodies Places candles horizontally on your chart with proper spacing Timing Information: Calculates and displays the remaining time until the current higher timeframe candle closes Formats the time remaining in a user-friendly way (days, hours, minutes) Practical Applications Context for Trading Decisions: See where price is in relation to higher timeframe support/resistance levels. Entry and Exit Timing: Time your entries and exits based on higher timeframe candle closings. Trend Alignment: Ensure your trades align with the higher timeframe trend direction. Support/Resistance Identification: Easily identify key price levels from higher timeframes. Candle Pattern Recognition: Spot important higher timeframe candlestick patterns without switching timeframes. This indicator essentially brings the higher timeframe context directly to your current chart, allowing for more informed trading decisions that consider both short-term and long-term market structures simultaneously.
Pine Script® indicator
by DrodzCip
DAMMU CANDEL TYPE🧩 Overview Detects multiple bullish and bearish candlestick patterns. Plots visual buy/sell signals and labels on chart. Sends alerts when patterns appear. Shows table of enabled/disabled patterns. ✅ Main Features Bullish patterns: Hammer, Inverted Hammer, Bullish Engulfing, Morning Star, Piercing, Dragonfly Doji. Bearish patterns: Hanging Man, Shooting Star, Bearish Engulfing, Evening Star, Dark Cloud, Gravestone Doji. Visuals: Green/red arrows and labels. Alerts: Optional alerts for bullish/bearish signals. Table: Shows active pattern status. ⚙️ Improvements Suggested Move table.new outside if block to prevent recreation every bar. Adjust label position to avoid overlap. Add “signal strength” (count multiple patterns same bar). Add MA confirmation for better accuracy. Upgrade to Pine Script v6 for better performance.
Pine Script® indicator
by dammucool
TwinPulse Q Lead SPY x QQQ Intermarket Pulse 1HTwinPulse Q Lead is a concise one hour indicator for SPY and QQQ that converts three sources of market information into a single pulse line, a mode readout with BUY SELL WAIT, and compact alerts. It blends intermarket leadership between QQQ and SPY, intraday flow from the slope of session VWAP, and where the current price sits inside the regular trading hours range. The three components are normalized, fused, compressed to a stable range, and smoothed for clear thresholds. The aim is a readable intraday regime signal that helps you decide when to participate and when to stand aside. The script is built with Pine v6, uses request security with lookahead off, and does not repaint. It is an indicator, not a strategy. It does not contain any solicitation, links, or outside references. The description is self contained and explains both logic and use so that any trader can understand the design without reading code. What makes this original and useful Intermarket leadership is measured directly from QQQ and SPY on your working timeframe using a Z score of the return spread. When growth is leading value heavy large caps, leadership turns positive. When it lags, leadership turns negative. This gives a real time read of the Nasdaq versus S and P tug of war that most day traders watch informally. Intraday flow is taken from the slope of the session VWAP. A linear regression of VWAP over a short window captures whether value is rising or falling inside the day. Dividing by ATR normalizes slope by typical movement so that the signal is comparable across weeks. Session position places price inside the current regular hours high to low. It answers whether the day is trading in the top half, the bottom half, or the middle. This is a simple but powerful context filter for breakouts and fades. The three components are fused into one pulse, compressed with either hyperbolic tangent or softsign to keep values bounded, and then smoothed by a short EMA. This yields a stable range with a zero line so the eye can read shifts quickly. The panel shows a human readable mode with reasons and a strength score. Traders who do not want to read lines can rely on a simple state and a compact justification that explains why the state is set. This is not a mashup that simply overlays unrelated indicators. Each component was chosen to answer a distinct question that is common to SPY and QQQ intraday decision making. Leadership answers who is in charge, flow answers whether value inside the session is building or leaking, and position answers if price is pressing the extremes or circling the middle. The pulse ties the three together and prevents any single component from dominating. How the calculations work Leadership. Compute a short rate of change for SPY and QQQ. Subtract SPY from QQQ to get spread returns, then compute a rolling Z score over a longer window. Positive values mean QQQ is leading. Negative values mean SPY is leading. Flow. Compute session VWAP on the active symbol. Regress VWAP over a short window to obtain a slope estimate. Divide by ATR to scale slope by current volatility so that a small rise on a quiet day is not treated the same as a small rise on a wild day. Position. Track the highest high and lowest low since the start of regular hours. Place the current close inside that range on a zero to one scale, then recenter to a minus one to plus one scale. Positive means the top half of the day, negative means the bottom half. Fusion. Multiply each component by a weight so users can emphasize or de emphasize leadership, flow, or position. Sum to a raw pulse. Compression. Pass the raw pulse through a bounded function. Hyperbolic tangent is smooth and has natural saturation near the extremes. Softsign is faster and behaves like a smoother version of sign near zero. Compression avoids unbounded excursions and makes thresholds meaningful across days. Smoothing. Apply a short EMA to the compressed pulse to reduce noise. This creates the main line called TwinPulse in the plot. Thresholds. You can use static symmetric levels or adaptive levels. The adaptive option computes a mean and a standard deviation of the smoothed pulse over a user window, then sets upper and lower thresholds as mean plus or minus sigma times standard deviation. This allows thresholds to adjust across regimes. Static levels are still available for traders who want repeatable levels. Events and mode. A long event fires when the smoothed pulse crosses the upper threshold with positive flow and any optional filters agree. A short event fires on the symmetric condition. The mode reads the current state rather than fire and forget. It returns BUY when the smoothed pulse is above the upper threshold with positive flow, SELL when the smoothed pulse is below the lower threshold with negative flow, otherwise WAIT. A cooldown controls how often events can fire so alerts do not spam during choppy periods. Inputs and default values The script ships with defaults chosen for SPY and QQQ on one hour charts. Symbols. SPY and QQQ by default. You can switch to any pair. Many users may test IWM versus SPY for small cap reads. Regular hours selector. On by default. This restricts the position factor to New York regular hours. Turn it off if you prefer full session behavior. ROC length is three bars. Z score length is fifty bars. VWAP slope window is ten bars. ATR length is fourteen bars. Pulse smoothing length is three bars. Compression mode. Choose hyperbolic tangent or softsign. Hyperbolic tangent is default. Weights. Leadership and flow are one by default. Position is set to zero point seven to give a modest influence to where price sits inside the day. Thresholds. Adaptive thresholds are on by default with a lookback of one hundred bars and a sigma width of zero point eight. Static levels at plus or minus zero point six are ready if you disable adaptive mode. Filters. ADX filter is off by default. If you enable it, the script requires ADX above a user minimum before it will signal. Higher time frame confirmation is off by default. When enabled it compares the smoothed pulse on the confirm timeframe to zero and requires alignment for longs or shorts. Cooldown. Three bars by default so that alerts do not trigger too frequently. UI. Bar coloring is on by default. The panel is on by default and sits at the top right. All request security calls use lookahead off and will not request future data. All persistent state variables are assigned in a way that prevents repainting. The indicator does not use non standard chart types in its logic. How to use the indicator Load a one hour chart of SPY or QQQ. Keep a clean chart so that the script output is easy to read. Turn on regular hours if you want the session position to reflect the cash session. This is recommended for SPY and QQQ. Watch the panel. Mode reads BUY or SELL or WAIT. The strength value is a simple vote based score that ranges from zero to one hundred. It counts leadership, flow, ADX if enabled, and higher time frame confirmation if enabled. You can use strength to filter weak states. Consider action only when mode is BUY or SELL and the signal has not just fired on the last bar. The triangles mark where an event fired. Alerts use the same logic as the events. WAIT means stand aside. To slow the system, enable ADX and set a higher minimum or enable higher time frame confirmation. To speed it up, disable the filters, disable adaptive thresholds, or tighten the sigma width. When publishing, use a clean chart with only this indicator. Show the symbol and timeframe clearly and make sure the plot legend is visible. If you add drawings on the chart, only include ones that help readers understand the output. Publication notes and compliance This description is written in English. The title uses ASCII and only uses capital letters for common abbreviations. The script is original and explains how and why the components work together. There are no links or promotional material. The script does not claim performance. It does not use lookahead. The panel and alerts exist to help a human read and act with discipline. The indicator can be published as open source or as protected. If you choose protected, the description still allows readers to understand how the logic works without access to the code. If you later convert the logic into a strategy for publication, use realistic commission and slippage, risk no more than a small share of equity per trade, and choose a dataset that yields a large enough sample. Explain any deviations from these default recommendations in your strategy description. Do not publish results from non standard chart types since they can mislead readers on signal timing. Limitations and risks Intermarket leadership is a relative measure. There are hours when both SPY and QQQ fall while leadership remains positive. Treat leadership as a context, not a stand alone trigger. VWAP slope is a path measure inside the session. It can flip several times on a choppy day. That is why the script uses a short smoothing and an optional cooldown. Use ADX or higher time frame confirmation to avoid the worst chop. Session position assumes a meaningful regular hours range. On half days or around openings with gaps the position factor can be less informative. If this bothers you, reduce the weight of position or turn it off. Compression and smoothing introduce lag by design. The goal is stability and clarity. If you want earlier but noisier signals, reduce smoothing and weights, and use static thresholds. No indicator guarantees future results. TwinPulse Q Lead is a decision aid. It should be combined with your risk rules, position size policy, and a clear exit plan. Past behavior is not a promise for the future. Frequently asked questions What symbols are supported. Any symbol can be used as the chart symbol. Leadership uses the two user symbols which default to SPY and QQQ. Many traders may try IWM versus SPY or DIA versus SPY. Can I change the timeframe. Yes, but the design target is one hour. On very short timeframes the VWAP slope becomes very sensitive and you should consider stronger filters. Does the script repaint. No. It uses request security with lookahead off and the panel updates on the last bar only. Events are based on bar close conditions unless you attach alerts on any alert function call which will still respect the logic without looking into the future. How are the strength numbers built. The strength score is the share of aligned votes across leadership, flow, ADX if enabled, and higher time frame confirmation if enabled. A value near one hundred means many filters agree. A value near fifty means partial alignment. It is not a probability or an accuracy number. Can I use non standard chart types. You can view the indicator on them but do not publish signals from non standard chart types because that can mislead readers about timing. Use classic candles or bars when you publish and when you test. Why do I sometimes see BUY but the price is not moving. A BUY mode requires pulse above the upper threshold and positive flow. It does not require higher highs immediately. Treat BUY as a permission to look for entries using your own execution rules.
Pine Script® indicator
by exlux
2
Devil Marks - Multi TimeframeA handy completely new script that shows Devil Marks for several time frames on the current time frame. Devil Marks are where candles have no wick at one end of the candlestick. These levels are seen as areas that price needs to go back to at some point to re-balance the imbalance. These levels can add confluence to a trade idea. A table is included that shows the closest devil mark for each time frame. Devil Marks should show until that level is mitigated by price trading at that level.
Pine Script® indicator
by gj7rwt
Adaptive Nexus LineAdaptive Nexus Line Overview The Adaptive Nexus Line is not just another moving average. It's a next-generation, composite indicator designed to provide a comprehensive and visually intuitive baseline for trend analysis and momentum. At its core, the Adaptive Nexus Line synthesizes a "cluster" of multiple moving averages into a single, cohesive line. This "average of averages" approach reduces market noise and provides a more stable and reliable representation of the trend than a traditional, single MA. The name reflects its core strengths: "Adaptive" for its intelligent Kalman filter smoothing, and "Nexus" because it serves as a central point, bringing together a wide array of moving average types. ________________________________________ Key Features • Composite Engine: Instead of a single MA, the Adaptive Nexus Line averages a user-defined cluster of MAs (e.g., 20 MAs with lengths from 5 to 105). This significantly smooths out price action and reduces false signals. • Universal MA Selection: The engine supports a comprehensive suite of moving average types, including SMA, EMA, WMA, HMA, VWMA, RMA, ZLMA, and ZMA. • Momentum Gradient: The indicator's most unique feature is its visual momentum coloring. The line smoothly transitions from red (bearish momentum) through yellow (neutral/indecision) to green (bullish momentum) based on the real-time ratio of rising vs. falling MAs within the cluster. • Change-Point Signals: A white dot is plotted at the very start of a color change, and a yellow dot is plotted at the end, providing clear signals of potential shifts in momentum. • Multi-Timeframe (MTF) Support: View the Adaptive Nexus Line from any timeframe directly on your current chart (e.g., plot the 4H line on a 15m chart) to get a better perspective of the higher-level trend. • Adaptive Kalman Filter: An optional, switchable Kalman filter is included to provide an additional layer of intelligent, adaptive smoothing to the final output line. Its sensitivity is fully adjustable. ________________________________________ Settings Explained • Moving Average Settings: Control the core engine. Choose your preferred MA Type, the Number of MAs in the cluster, the Start Length, and the Step between lengths. • Time Frame: Set the indicator to a higher timeframe for a broader market view. Leave blank to use your chart's current timeframe. • Kalman Filter Settings: Toggle the Use Kalman Filter on or off. Adjust the Kalman Smoothing Period (higher = smoother) to fine-tune the adaptive smoothing to your preference.
Pine Script® indicator
by arun_mhetre
Wyckoff Effort vs. Result📌 Wyckoff Effort vs. Result (E/R) – Visualizing Supply & Demand Imbalance with Volume Confirmation 📖 Overview The Wyckoff Effort vs. Result (E/R) indicator is designed to help traders interpret market behavior through the lens of volume vs. price movement — a foundational concept in Richard Wyckoff’s methodology. This tool aims to highlight moments where the “effort” (volume) is not in proportion to the “result” (price movement) — giving insight into potential accumulation or distribution events. By detecting high-volume candles and classifying them based on their price direction, the indicator visualizes zones where smart money might be active . ⚙️ How It Works 1. Effort Accumulation (High Volume Down Bar): • When a candle closes lower than it opens (down bar) and has above-average volume , it’s marked as potential absorption of selling pressure (effort to push down met by buying). • These candles are colored red and the open level is plotted, acting as a potential support or re-test zone. 2. Effort Distribution (High Volume Up Bar): • When a candle closes higher than it opens (up bar) and has above-average volume , it’s marked as potential distribution (effort to push up absorbed by sellers). • These candles are colored green and the open level is plotted , acting as a potential resistance or rejection zone. 3. Average Volume Calculation: • The script calculates a simple moving average (SMA) of volume over a user-defined lookback period. • If current volume exceeds the average multiplied by a set threshold, it’s treated as a high-effort bar . 🧪 Inputs Input Description Average Volume Lookback - Number of bars used to calculate the volume average High Volume Multiplier. - Multiplier to define what qualifies as “high volume” 🖥️ Visual Output • 🔴 Red candles = High volume on a down bar → possible accumulation • 🟢 Green candles = High volume on an up bar → possible distribution • 📉 Horizontal lines at bar open price mark the potential zones where effort occurred These zones can serve as: • Areas of support/resistance • Trap zones where smart money absorbs liquidity • Entry/exit filters when combined with price action 🧠 How to Use • Use in combination with price structure, support/resistance, and volume profile tools • Watch how price reacts when it revisits the plotted lines • Look for effort bars that fail to lead to continuation, signaling potential reversal • Can be used in scalping, swing trading, or Wyckoff-style phase analysis 🔒 Technical Notes • ✅ Does not repaint • ✅ Built with Pine Script v6 • ✅ Lightweight and customizable • ❌ Does not generate buy/sell signals — it provides context, not predictions
Pine Script® indicator
by TradeTechanalysis
GRG/RGR Signal, MA, Ranges and PivotsThis indicator is a combination of several indicators. It is a combination of two of my indicators which I solely use for trading 1. EMA 10-20-50-200, Pivots and Previous Day/Week/Month range 2. 3/4-Bar GRG / RGR Pattern (Conditional 4th Candle) You can use them individually if you already have some of them or just use this one. Belive me when I say, this is all you need, along with market structure knowlege and even if you don’t have that, this indicator has been doing wonders for me. This is all I use. I do not use anything else. **Note - Do checkout the indicators individually as I have added valuable information in the comment section. It contains the following, 1. 10 EMA/SMA - configurable 2. 20 EMA/SMA - configurable 3. 50 EMA/SMA - configurable 4. 200 EMA/SMA - configurable 5. Previous Day's Range - configurable 6. Previous Week's Range - configurable 7. Previous Month's Range - configurable 8. Pivots - configurable 9. Buy Sell Signal - configurable The Moving Averages It is a very important combination and using it correctly with price action will strengthen your entries and exits. The ema's or sma's added are the most powerful ones and they do definitely act as support and resistance. The Daily/Weekly/Monthly Ranges The Daily/Weekly/Monthly ranges are extremely important for any trader and should be used for targets and reversals. Pivots Pivots can provide support and resistance level. R5 and S5 can be used to check for over stretched conditions. You can customise them however you like. It is a full pivot indicator. It is defaulted to show R5 and S5 only to reduce noise in the chart but it can be customised. The 3/4 RGR or GRG Signal Generator Combined with a 3/4 RGR or GRG setup can be all a trader needs. You don't need complex strategies and SMC concepts to trade. Simple EMAs, ranges and RGR/GRG setup is the most winning combination. This indicator can be used to identify the Green-Red-Green or Red-Green-Red pattern. It is a price action indicator where a price action which identifies the defeat of buyers and sellers. If the buyers comprehensively defeat the sellers then the price moves up and if the sellers defeat the buyers then the price moves down. In my trading experience this is what defines the price movement. It is a 3 or 4 candle pattern, beyond that i.e, 5 or more candles could mean a very sideways market and unnecessary signal generation. How does it work? Upside/Green signal 1. Say candle 1 is Green, which means buyers stepped in, then candle 2 is Red or a Doji, that means sellers brought the price down. Then if candle 3 is forming to be Green and breaks the closing of the 1st candle and opening of the 2nd candle, then a green arrow will appear and that is the place where you want to take your trade. 2. Here the buyers defeated the sellers. 3. Sometimes candle 3 falls short but candle 4 breaks candle 1's closing and candle 2's opening price. We can enter on candle 4. 4. Important - We need to enter the trade as soon as the price moves above the candle 1 and 2's body and should not wait for the 3rd or 4th candle to close. Ignore wicks. 5. But for a more optimised entry I have added an option to use candle’s highs and lows instead of open and close. This reduces lot of noise and provides us with more precise entry. This setting is turned on by default. 6. I have restricted it to 4 candles and that is all that is needed. More than that is a longer sideways market. 7. I call it the +-+ or GRG pattern or Green-Red-Green or Buyer-Seller-Buyer or Seller defeated or just Buyer pattern. 8. Stop loss can be candle 2's mid for safe traders (that includes me) or candle 2's body low for risky traders. 9. Back testing suggests that body low will be useless and result in more points in loss because for the bigger move this point will not be touched, so why not get out faster. Downside/Red signal 1. Say candle 1 is Red, which means sellers stepped in, then candle 2 is Green or a Doji, that means buyers took the price up. Then if candle 3 is forming to be Red and breaks the closing of the 1st candle and opening of the 2nd candle then a Red arrow will appear and that is the place where you want to take your trade. 2. Sometimes candle 3 falls short but candle 4 breaks candle 1's closing and candle 2's opening price. We can enter on candle 4. 3. We need to enter the trade as soon as the price moves below the candle 1 and 2's body and should not wait for the 3rd or 4th candle to close. 4. But for a more optimised entry I have added an option to use candle’s highs and lows instead of open and close. This reduces lot of noise and provides us with more precise entry. This setting is turned on by default. 5. I have restricted it to 4 candles and that is all that is needed. More than that is a longer sideways market. 6. I call it the -+- or RGR pattern or Red-Green-Red or Seller-Buyer-Seller or Buyer defeated or just Seller pattern. 7. Stop loss can be candle 2's mid for safe traders ( that includes me) or candle 2's body high for risky traders. 8. Back testing suggests that body high will be useless and result in more points in loss because for the bigger move this point will not be touched, so why not get out faster. Combining Indicators and Signal Combining these indicators with GRG/RGR signal can be very powerful and can provide big moves. 1. MA crossover and Signal - This is very powerful and provides a very big move. Trades can be held for longer. If after taking the trade we notice that the MA crossover has happened then trades can be held for higher targets. 2. Pivots and Signal - Pivots and add a support or resistance point. Take profits on these points. R5/S5 are over streched conditions so we can start looking for reversal signals and ignore other signals 3. Intraday Range - first 1, 5, 15 min of the day - Sideways days is when price will stay in these ranges. You can take profits at these ranges or if the range is broken and we get a signal, then it can mean that the direction will be sustained. 4. Previous Day/Week/Month Ranges - These can be used as Take Profit points if the price is moving towards them after getting the signal. If the range is broken and we get a signal then it can be a strong signal. They can also be used as reversal points if a strong signal is generated. Important Settings 1. Include 4th Candle Confirmation - You can enable or disable the 4th candle signal to avoid the noise, but at times I have noticed that the 4th candle gives a very strong signal or I can say that the strong signal falls on the 4th candle. This is mostly a coincidence. 2. Bars to check (default 10) - You can also configure how many previous bars should the signal be generated for. 10 to 30 is good enough. To backtest increase it to 2000 or 5000 for example. 3. Use Candle High/Low for confirmation instead of Candle Open/Close - More optimized entry and noise reduction. This option is now defaulted to false. 4. Show Green-Red-Green (bull) signals - Show only bull entries. Useful when I have a predefined view i.e, I know market is going to go up today. 5. Show Red-Green-Red (bear) signals - Show only bear entries. Useful when I have a predefined view i.e, I know market is going to go down today. 6. 3rd candle should be a Strong candle before considering 4th candle - This will enforce additional logic in 4 candle setup that the 3rd candle is the candle in our direction of breakout. This means something like GRGG is mandatory, which is still the default behaviour. If disabled, the 3rd candle can be any candle and 4th candle will act as our breakout candle. This behaviour has led to breakouts and breakdowns as times, hence I added this as a separate feature. Vice-versa for a RGGR. For a 4 candle setup till now we were expecting GRGG or RGRR but we can let the system ignore the 3rd candle completely if needed. This will result in additional signals. 7. Three intraday ranges added for index and stock traders - 1 min, 5 min and 15 min ranges will be displayed. These are disabled by default except 15 min. These are very important ranges and in sideways days the price will usually move within the 15 min. A breakout of this range and a positive signal can be a very powerful setup. Safe traders can avoid taking a trade in this range as it can lead to fakeouts. The line style, width, color and opacity are configurable. Pointers/Golden Rules 1. If after taking the trade, the next candle moves in your direction and closes strong bullish or bearish, then move SL to break even and after that you can trail it. 2. If a upside trade hits SL and immediately a down side trade signal is generated on the next candle then take it. Vice versa is true. 3. Trades need to be taken on previous 2 candle's body high or low combined and not the wicks. 4. The most losses a trader takes is on a sideways day and because in our strategy the stop loss is so small that even on a sideways day we'll get out with a little profit or worst break even. 5. Hold trades for longer targets and don't panic. 6. If last 3-4 days have been sideways then there is a good probability that today will be trending so we can hold our trade for longer targets. Inverse is true when the market has been trending for 2-3 days then volatility followed by sideways is coming (DOW theory). Target to hold the trade for whole day and not exit till the day closes. 7. In general avoid trading in the middle of the day for index and stocks. Divide the day into 3 parts and avoid the middle. 8. Use Support/Resistance, 10, 20, 50, 200 EMA/SMA, Gaps, Whole/Round numbers(very imp) for identifying targets. 9. Trail your SL. 10. For indexes I would use 5 min and 15 min timeframe and at times 10 mins. 11. For commodities and crypto we can use higher timeframe as well. Look for signals during volatile time durations and avoid trading the whole day. Signal usually gives good targets on those times. 12. If a GRG or RGR pattern appears on a daily timeframe then this is our time to go big. 13. Minimum Risk to Reward should be 1:2 and for longer targets can be 1:4 to 1:10. 14. Trade with small lot size. Money management will happen automatically. 15. With small lot size and correct Risk-Reward we can be very profitable. Don't trade with big lot size. 16. Stay in the market for longer and collect points not money. 17. Very imp - Watch market and learn to generate a market view. 18. Very imp - Only 3 type of candles are needed in trading - Strong Bullish (Big Green candle), Strong Bearish (Big Red candle), Hammer (it is Strong Bullish), Inverse Hammer (it is Strong Bearish) and Doji (indecision or confusion). If on daily timeframe I see Strong Bullish candle previous day then I am biased to the upside the next day, if I see Strong Bearish candle the previous day then I am biased to the downside the next day, if I see Doji on the previous day then I am cautious the next day, if there are back to back Dojis forming in daily or weekly then I am preparing for big move so time to go big once I get the signal. 19. Most Important Candlestick pattern - Bullish and Bearish Engulfing 20. The only Chart patterns I need - 
 a) Falling Wedge/Channel Bullish Pattern Uptrend or Bull Flag - Buying - Forming over a couple days for intraday and forming over a couple of weeks for swing 
 b) Falling Wedge/Channel Bullish Pattern Downtrend or Falling Channel - Buying
 c) Rising Wedge Bearish Pattern Uptrend or Rising Channel - Selling
 d) Rising Wedge Bearish Pattern Downtrend or Bear flag - Selling e) Head and Shoulder - Over a longer period not for intraday. In 15 min takes few days and for swing 1hr or 4h or daily can take few days 
f) M and W pattern - Reversal Patterns - They form within the above 4 patterns, usually resulting in the break of trend line 21. How Gaps work - 
 a) Small Gap up in Uptrend - Market can fill the gap and reverse. The perception is that people are buying. If previous day candle was Strong Bullish then market view is up.
 b) Big Gap up in Uptrend - Not news driven - Profit booking will come but may not fill the entire gap
 c) Big Gap up in Uptrend - News driven, war related, tax, interest rate - Market can keep going up without stopping.
 c) Flat opening in Uptrend - Big chance of market going up. If previous day candle was Strong Bullish then view is upwards, if it was Doji then still upwards.
 d) Gap down in Uptrend - Market is surprised. After going down initially it can go up
 e) Small Gap down in Downtrend - Market can fill the gap and keep moving down. If previous day candle was Strong Bearish then view is still down.
 f) Flat opening in Downtrend - View is down, short today.
 g) Big Gap down in Downtrend - Profit booking and foolish buying will come but market view is still down.
 h) Gap down with News - Volatility, sideways then down. 
 i) Gap Up in Downtrend - Can move up - Price can move up during 2/3rd of the day and End of the day revert and close in red. 22. Go big on bearish days for option traders. Puts are better bought and Calls are better sold. 23. Cluster of green signals can lead to bigger move on the upside and vice versa for red signals. 24. Most of this is what I learned from successful traders (from the top 2%) only the indicator is mine.
Pine Script® indicator
by pranayjha
4
Session Breakout Detector (SBD)Overview: The Session Breakout Detector (SBD) is a TradingView indicator designed to identify and visualize breakouts from major trading sessions. It tracks a selected session (Tokyo, London, or New York) and detects price movements beyond the session's high or low, assisting traders in spotting potential breakout opportunities. Key Features: - Session Selection: Choose between Tokyo, London, or New York sessions. - Breakout Detection Modes: - Confirmed Bar: Detects breakouts when a candle closes beyond the session's range. - Intrabar: Detects breakouts as soon as the price exceeds the session's high or low within a candle. - Visual Indicators: - Displays session high, low, and range with a colored box for clear visualization. - Marks breakouts with green (bullish) or red (bearish) triangles. - Optional 50-Period SMA: Adds a 50-period Simple Moving Average to the chart for trend analysis. - Alerts: Configurable alerts for bullish and bearish breakouts. Usage Instructions: 1. Select Session: Choose the desired trading session (Tokyo, London, or New York) from the input settings. 2. Choose Breakout Detection Mode: Select between 'By confirmed bar' or 'By intrabars' based on your trading preference. 3. Enable SMA (Optional): Toggle the 'Use SMA?' option to display the 50-period Simple Moving Average. 4. Set Alerts: Configure alerts for breakout signals as per your trading strategy. ⚠️Note: This indicator is intended for informational purposes only and should not be construed as financial advice. Users are encouraged to conduct their own research and consider their individual risk tolerance before making trading decisions.
Pine Script® indicator
by TheWaveHunter
Oscillator CandlesticksI've always wondered why we don't use candlesticks for oscillators...then I stopped wondering and made an oscillator with candlesticks. The following oscillators are available as a proof of concept: * Consumer Channel Index (CCI) * Rate of Change (ROC) * Relative Strength Index (RSI) * Trend Strength Index (TSI) You can add a moving average to the ohlc4 value of the oscillator and choose the type of the moving average and whether it should be influenced by volume.
Pine Script® indicator
by llbot