Bullish and Bearish EngulfingIndicator that changes the bar's color to green if there is a Bullish Engulfing or Red if there a Bearish Engulfing Patterns.
Анализ свечей
[NM] Reversal Candles v01Reversal candles are a very easy way to identify a turn in trend, this indicator has some specific additional conditions for the reversal candle.
BUY Signal reversal candle
Low of current candle exceeds low of previous candle
Low of current candle is lowest for last 7 candles
High of current candle exceeds high of previous candle
Close of current candle is in the upper 50% of the range of this candle
SELL Signal reversal candle
High of current candle exceeds high of previous candle
High of current candle is Highest for last 7 candles
Low of current candle exceeds low of previous candle
Close of current candle is in the lower 50% of the range of this candle
How do I trade it ? (example buy signal)
Wait for close of the candle and the BUY signal
Put a buy stop entry 5 pips above the high of the candle
Put a stop loss 5 pips below the low of the candle
Calculate difference between entry and stop loss and set your target that number of pips above the entry for a 1:1 RR trade*
Wait for your your target or stop loss to be triggered
* Alternatively, you can take 50% of the profit at the 1st (1:1 RR) profit target, move your stop to break even and let the rest of the position run for a higher potential profit.
Further advice on use
Personally I always look for some additional confirmation like a support or resistance level, a bounce of the EMA or a fibonacci level, but please feel free to add additional filters to make the strategy even more effective. I would strongly advise to backtest your strategy first so you can fine tune it and have confidence in trading it. Forward testing on a demo account before going live, although it takes longer, can be a worthy alternative. Works better on higher time frames.
How do you use it ?
Please leave a note in the comment section below to let me know if you use the indicator and how. There's definitely not just one way to use the indicator so I'm curious about your feedback.
To apply the script to your chart, just add it to your favourites so you can easily find it in the Indicators list.
Kindly leave me a thumbs up if you like this indicator or support my work, and do not hesitate to visit my other indicators. Thanks for your visit
Qstick as described by Tushar S. Chande and Stanley KrollQstick indicator as described by Tushar S. Chande and Stanley Kroll in the New Technical trader. The indicator shows the range between open and close for the specified period of time boosted by the presence of exponential moving average.
Qstick is best to discover divergence and find local tops and bottoms.
Mercurius.a.m@gmail.com
Mister Transistor 3.0This is a general purpose very flexible program to test the effectiveness of HA bars.
Please note that if you are charting at tradingview using Heikin-Ashi charting, your system will be trading fictitious prices even if you check the "use real prices" box. Thought you might like to know that before you lose all your money.
This program performs the HA calcs internally thus allowing you to use HA bars on a standard bar chart and obtaining real prices for your trades.
Courtesy of Boffin Hollow Lab
Author: Tarzan the Ape Man
Big Shadow by Walter Peters v1.1Version 1.1 is here!
This is an indicator for the Big Shadow (engulfing candle) that Walter Peters teaches in his course (fxjake.com) and book "Naked Forex". I have really been diving into this one and back testing it like crazy. The results have been great and I will be publishing them on the nakedforexnow.com forum soon since it probably isn't appropriate to do it here.
If you like it, please reach out to me @fredferrell on the forum. I would love to discuss back testing results with other traders.
Big Candles v1This script simply takes a user-defined bar height number (variable barHeight) to find large candles. Automatically colors large bullish and bearish candles green or red, respectively. The barHeight can be modified to fit your needs.
Use this in a variety of ways:
- Confirm breakouts of support / resistance
- Identify new trends
YK Fuller BarsThe script highlights "Fuller's pins" and generates alerts when these bars are appearing
<50% Body CandleScript to identify candlesticks with less than 50% body of total high low candlestick. Places a dot inside the candle. Make sure indicator is moved in the top of Objects Tree so the dot will not be hidden behind the candlebar.
Candles Pattens (v. 1.14)This script sows you candlestick patterns in real-time.
At that moment script knows Bearish/Bullish Engulf and Doji Points.
You can recommend me which pattens you want to see in next version at comment section below
Reversal Candle Pattern SetUp
An outside reversal candle set up script with buy/sell signals. Looks simple but it's pretty powerful especially if combined with your choice confirming indicator.
The pattern psychology is this one (Frank Ochoa explanation): " The power behind this pattern lies in the psychology behind the traders involved in this setup. If you have ever participated in a breakout at support or resistance only to have the market reverse sharply against you, then you are familiar with the market dynamics of this setup.
[Basically, market participants are testing the waters above resistance or below support to make sure there is no new business to be done at these levels. When no initiative buyers or sellers participate in range extension, responsive participants have all the information they need to reverse price back toward a new area of perceived value.
As you look at a bullish outside reversal pattern, you will notice that the current bar's low is lower than the
prior bar's low. Essentially, the market is testing the waters below recently established lows to see if a downside
follow-through will occur. When no additional selling pressure enters the market, the result is a flood of buying
pressure that causes a springboard effect, thereby shooting price above the prior bar's highs and creating the
beginning of a bullish advance."
Binary option trading by two previous barsThis simple script uses the idea of inertia of the market. if 2 previous candles have the same color, current meant to have that too. Following this signal is equal to buying a binary option on the start of the bar (week here). Signals are shown as arrows on the series. The color of the bar shows the outcome of the current option: yellow is success, black is failure. The same outcomes are at the bottom of the chart. The blue line is the total revenue of all options so far. Can be used as template for strategy simulation.
Spinning TopsThis is my script for a spinning top. It is just another form of a doji. It is an indecision bar. Enjoy.
TUX CandlesThis indicator has a lot of information. This is the first version so stay tuned for updates, and please let me know of any bugs.
Candlestick Indicators:
Doji
Shooting Star
Evening Star
Hammer
Hanging Man
Candlestick Formations
Tri-star
Bearish Harami
Bullish Harami
Bearish Harami Cross
Bullish Harami Cross
Bullish Engulfing
Bearish Engulfing
Rising Three
Falling Three
Bearish Abandoned Baby
Bullish Abandoned Baby
Three Black Crows
Three White Soldiers
Technical Indicators:
(You can set you MA periods)
Moving Average Cross
Move Average Crossover