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Candlestickpattern

Dekidaka-Ashi - Candles And Volume Teaming Up (Again)The introduction of candlestick methods for market price data visualization might be one of the most important events in the history of technical analysis, as it totally changed the way to see a trading chart. Candlestick charts are extremely efficient, as they allow the trader to visualize the opening, high, low and closing price (OHLC) each at the same time, something impossible with a traditional line chart. Candlesticks are also cleaner than bars charts and make a more efficient use of space. Japanese peoples are always better than everyone at an incredible amount of stuff, look at what they made, the candlesticks/renko/kagi/heikin-ashi charts, the Ichimoku, manga, ecchi... However classical candlesticks only include historical market price data, and won't include other type of data such as volume, which is considered by many investors a key information toward effective financial forecasting as volume is an indicator of trading activity. In order to tackle to this problem solutions where proposed, the most common one being to adapt the width of the candle based on the amount of volume, this method is the most commonly accepted one when it comes to visualizing both volume and OHLC data using candlesticks. Now why proposing an additional tool for volume data visualization ? Because the classical width approach don't provide usable data regarding volume (as the width is directly related to the volume data). Therefore a new trading tool based on candlesticks that allow the trader to gain access to information about the volume is proposed. The approach is based on rescaling the volume directly to the price without the direct use of user settings. We will also see that this tool allow to create support and resistances as well as providing signals based on a breakout methodology. Dekidaka-Ashi - Kakatte Koi Yo! "Dekidaka" (出来高) mean "Volume" in a financial context, while "Ashi" (足) mean "leg" or "bar". In general methods based on candlesticks will have "Ashi" in their name. Now that the name of the indicator has been explained lets see how it works, the indicator should be overlayed directly to a candlestick chart. The proposed method don't alter the shape of the candlesticks and allow to visualize any information given by the candles. As you can see on the figure below the candle body of the proposed tool only return the border of the candle, this allow to show the high/low wick of the candle. The body size of the candle is based on two things : the absolute close/open difference, and the volume, if the absolute close/open difference is high and the volume is high then the body of the candle will be clearly visible, if the volume is high but the absolute close/open difference is low, then the body will be less visible. This approach is used because of the rescaling method used, the volume is divided by the sum between the current volume value and the precedent volume value, this rescale the volume in a (0,1) range, this result is multiplied by the absolute close/open difference and added/subtracted to the high/low price. The original approach was based on normalization using the rolling maximum, but this approach would have led to repainting. You have access to certain settings that can help you obtain a better visualization, the first one being the body size setting, with higher values increasing the body amplitude. In green body with size 2, in red with size 1. The smooth parameter will smooth the volume data before being used, this allow to create more visible bodies. Here smooth = 100. Making Bands From The Dekidaka-Ashi This tool is made so it output two rescaled volume values, with the highest value being denoted as "Dekidaka-high" and the lowest one as "Dekidaka-low". In order to get bands we must use two moving averages, one using the Dekidaka-high as input and the other one using Dekidaka-low, the body size parameter should be fairly high, therefore i will hide the tool as it could cause trouble visualizing the bands. Bands with both MA's of period 20 and the body size equal to 20. Larger periods of the MA's will require a larger amount of body size. Breakout Signals There is a wide variety of signals that can be made from candles, ones i personally like comes from the HA candles. The proposed tool is no exception and can produce a wide variety of signals. The signals generated are basic ones based on a breakout methodology, here is each signal with their associated label : Strong Bullish signal "⇈" : The high price cross the Dekidaka-high and the closing price is greater than the opening price Strong Bearish signal "⇊" : The low price cross the Dekidaka-low and the closing price is lower than the opening price Weak Bullish signal "↑" : The high price cross the Dekidaka-high and the closing price is lower than the opening price Weak Bearish signal "↓" : The low price cross the Dekidaka-low and the closing price is greater than the opening price Uncertain "↕" : The high price cross the Dekidaka-high and the low price cross the the Dekidaka-low In order to see the signals on the chart check the "Show signals" option. Note that such signals are not based on an advanced study, and even if they are based on a breakout methodology we can see that volatile movement rarely produce signals, therefore signals mostly occur during low volume/volatility periods, which isn't necessarily a great thing. Conclusion A trading tool based on candlesticks that aim to include volume information has been presented and a brief methodology has been introduced. A study of the signals generated is required, however i'am not confident at all on their accuracy, i could work on that in the future. We have also seen how to make bands from the tool. Candlesticks remain a beautiful charting technique that can provide an enormous amount of information to the trader, and even if the accuracy of patterns based on candlesticks is subject to debates, we can all agree that candlesticks will remain the most widely used type of financial chart. On a side note i mostly use a dark color for a bullish candle, and a light gray for a bearish candle, with the border color being of the same color as the bullish candle. This is in my opinion the best setup for a candlestick chart, as candles using the traditional green/red can kill the eyes and because this setup allow to apply a wide variety of colors to the plot of overlayed indicators without the fear of causing conflict with the candles color. Thanks for reading ! :3 Nya A Word This morning i received some hateful messages on twitter, the users behind them certainly coming from tradingview, so lets be clear, i know i'am not the most liked person in this community, i know that perfectly, but no one merit to be receive hateful messages. I'am not responsible for the losses of peoples using my indicators, nor is tradingview, using technical indicators does not guarantee long term returns, your ability to be profitable will mostly be based on the quality and quantity of knowledge you have.
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Индикатор Pine Script™
от alexgrover
41
BEST Engulfing + Breakout StrategyHello traders This is a simple algorithm for a Tradingview strategy tracking a convergence of 2 unrelated indicators. Convergence is the solution to my trading problems. It's a puzzle with infinite possibilities and only a few working combinations. Here's one that I like - Engulfing pattern - Price vs Moving average for detecting a breakout Definition Take out the notebooks :) and some coffee (good for focus). I'm bullish in coffee The engulfing pattern is a two-candle reversal pattern. The second candle completely ‘engulfs’ the real body of the first one, without regard to the length of the tail shadows. The bullish Engulfing pattern appears in a downtrend and is a combination of one red candle followed by a larger green candle The bearish Engulfing pattern appears in a downtrend and is a combination of one green candle followed by a larger red candle Example: imgur.com We're bored sir... what's the point of all this? In summary, an engulfing is a pattern to track reversals. (the whole TradingView audience stands up now giving a standing ovation) Adding the Price vs Moving average filters allows to track reversals with momentums (half of the audience collapsed because this is too awesome) Ok sir... you picked up my interest I included some cool backtest filters: - date range filtering - flexible take profit in USD value (plotted in blue) - flexible stop loss in USD value (plotted in red) All the best Dave
Стратегия Pine Script™
от Daveatt
21
Dumb Indicator 21 - Function's Candlestick Bar's StyleThe idea is help traders to see the patterns and levels from a different point o view. This script create candlestick using the opening, high, low and close price as source on your favorite function. It's very simple to use: Select a function in the drop box list, the number of bars length, check or uncheck the boxes to treat source as logarithm, smooth, and if you want to plot the SMA from the results. To make a deeper analysis, you can select to plot the candles in Stochastic or in Percent Rank way. The Stochastic and Percent Rank plot will show how far the price is close to highest or lowest value of the source from the last "Stochastic Length" number of bars. Some functions with different names can plot the same results. This indicator works on every kind of market, but you will need to find the best function and length to use. Please, if you find anything good with this, share to everyone.
Индикатор Pine Script™
от RodrigoKazuma
4
Master Pivots (CPR)This helps in monitoring the support and resistance of the current day and plan for tomorrow's support and resistance. The formula for creating the indicator is as below. Pivot Point (P) = (High + Low + Close)/3 Support 1 (S1) = (P x 2) - High Support 2 (S2) = P - (High - Low) Resistance 1 (R1) = (P x 2) - Low Resistance 2 (R2) = P + (High - Low) Floor Pivots are one of the classic pivot ranges and helps us in trading based on pivot values. This indicator that I have built is also capable of predicting tomorrow's support and resistance up to 3 levels i.e. R1, R2, R3 and S1, S2 and S3. This is the only indicator available in trading view which does the same. Thats the only reason of making a separate indicator. In this indicator we have also added some symbols to identify the reversal patterns based on candle. This is best if used in 15 min candle. This plots engulfing pattern, shooting star, hammer and bullish and bearish reversals. Please use it and provide feedback for changes. If i would change anything it would be available automatically anyway. I have not added Fibonacci Pivots as its generally available in many sites out of box. How ever if you want to code you can use the below formula. Pivot Point (P) = (High + Low + Close)/3 Support 1 (S1) = P - {.382 * (High - Low)} Support 2 (S2) = P - {.618 * (High - Low)} Support 3 (S3) = P - {1 * (High - Low)} Resistance 1 (R1) = P + {.382 * (High - Low)} Resistance 2 (R2) = P + {.618 * (High - Low)} Resistance 3 (R3) = P + {1 * (High - Low)}
Индикатор Pine Script™
от indianinvisibletrader
26
Candle TheoryDescription: The theory behind this script is that if within the last 10 candles, if the majority of them are green and the average length (wick to wick) of those majority green candles is greater than the average length of the minority red candles then it will signal that this is a bullish move within the market and signal you to buy. The opposite is true for bearish moves. Inputs: Length - this allows you to decide how many candles to look back, default/recommended is 10 Show First Signal In Series Only - using this indicator without this checked will show many more signals in a row. This allows you to just get a signal for the first candle that is the predicted bullish or bearish move
Индикатор Pine Script™
от rmunoz
1
Cuban's Candle ColouringUsing a complex combination of bullish/bearish candle structure (such as engulfings and breakouts) and moving averages, this indicator attempts to illustrate weakness and strength within a trending market. Included are labels that highlight important breaks of micro structure levels. The beauty of this script lies in the discretionary trading of 'mid-candle' colour changes, giving the trader a simple micro structure bias. The white ( bullish ) and dark red ( bearish ) colours are the higher confluence indications of candle structure breakout and breakdown, with the grey (semi-bullish) and pink (semi-bearish) showing trend weakness.
Индикатор Pine Script™
от cubantobacco
26
Cuban's Candle ColouringUsing a complex combination of bullish/bearish candle structure (such as engulfings and breakouts) and moving averages, this indicator attempts to illustrate weakness and strength within a trending market. Included are labels that highlight important breaks of micro structure levels. The beauty of this script lies in the discretionary trading of 'mid-candle' colour changes, giving the trader a simple micro structure bias. The white (bullish) and dark red (bearish) colours are the higher confluence indications of candle structure breakout and breakdown, with the grey (semi-bullish) and pink (semi-bearish) showing trend weakness.
Индикатор Pine Script™
от cubantobacco
4
minimum risk V.1Was playing around and I've had this idea: most of day traders looking for catching price swings and sometimes they forgot about risk, so I was keeping focus not on price swings but on risk-momentum: the idea was to catch daily moments when the risk was minimum and this is the result. There are some rules to use it correctly 1. Use it on lower timeframe (1M to 30M) best --> 1M to 5M 2. Do not open position on every signal !! keep focusing on the price 3. works better on Forex upin and doin input: you can change it and you will see more signals but keep this inputs low as it is a filter I'm using for signals I will update the indicator if I found new ideas Enjoy!!
Индикатор Pine Script™
от dima89938993
1
Binary Options Arrows (example)An example of Binary Option Arrows (BOA) for candlestick patterns bearish and bullish harami. With results as coloured background and an option to choose your expiration (one candle by default). It's just an example for those who has their own strategy and wants to make nice arrows in their chart. All you need to do is rewrite piece of script in lines 9:13 - feel free to ask me for any help. Disclaimer: It's just an example how to script arrows for binary option trading, Poshtrader is not responsible for any loss of money by using this particular strategy. Happy Trading
Индикатор Pine Script™
от Poshtraderltd
2
Dark Cloud Cover Pattern Trading Setupthis study is another script based on the candlestick pattern . there are a few filters implemented to be applied to the output result to clear out noises. it sounds like finding real Dark Cloud Cover instances are too rare (interesting though!). Dark Cloud Cover it is a bearish reversal candlestick pattern where a down candle (typically bearish) opens above the close of the prior up candle (typically bullish) and then closes below the midpoint of the up candle. The five criteria for the Dark Cloud Cover pattern are: An existing bullish uptrend. An up (bullish) candle within that uptrend. A gap up on the following day. The gap up turns into a down (bearish) candle. The bearish candle closes below the midpoint of the previous bullish candle. all these criteria are implemented in code to produce a more accurate result. please provide me with your valuable comments, thanks for your attention,
Индикатор Pine Script™
от ehsanha
2
Piercing Line Pattern Trading Setupthis study is the first one of a series of scripts based on the candlesticks pattern which will be published over time. There are several such scripts out there that can be found on TradingView but they seem to be inaccurate with a lot of noises and messy hard to understand code. In this script, I've tried to have a clean and easy to get of the pattern itself and the method for detecting it with enough parameters to filter out the noises. Piercing Pattern A piercing pattern is a technical trading signal that is formed by a closing down day with a good-sized trading range, followed by a trading gap lower the following day with a bullish candlestick that covers at least half of the upward length of the previous day's bearish candlestick body, finishing with a close higher for the day. A piercing pattern often signals the end of a small to moderate downward trend. A piercing pattern can serve as a potential indicator for a bullish reversal. This pattern is formed by two consecutive candlestick marks. The first candlestick is bearish signifying a down day and the second is bullish signifying an up day. When a trader is watching for a bullish reversal any red candlestick followed by a green candlestick could be an alert. There are a few things that set a piercing pattern apart from a general red candlestick green candlestick pattern. In a piercing pattern, a green candlestick follows a red one with a significant gap in the red candlestick close and green candlestick open. On the second-day green candlestick, the candlestick’s body must also lengthen to cover at least half of the previous day’s red candlestick . Generally, the gap down and substantial increase to the closing price are good signs for a reversal. In a piercing pattern, the second-day green candlestick will close at or above the midpoint of the previous day’s red candlestick. please provide me with your valuable comments, thanks for your attention,
Индикатор Pine Script™
от ehsanha
Candles - Cheat SheetWhat is up y'all ? (french trying to sound American) I found that in my script archives, way back in an old cave. I think this might be useful as a few really asked me how to define a green/red candle, how to capture the wick value, the body, etc.. This is not a fancy script as usual and I'm sure they're plenty of candles pattern scripts out there but I saw no one sharing a simple candle cheat sheet for pinescript coding Being able to define candles using codes is an essential skill to have for any Pinescripter Still on the train so won't write a roman as usual... Kidding... I actually did it here What-is-an-Hard-Exit-and-a-few-notes-on-trading-management/ It won't bring me as many likes as any magic p**p cannon accounts promising the moon at each trade but if I can help at least 1 trader a day not losing his/her money, I'll be happy and my daily goal will be fulfilled All the best Dave ____________________________________________________________ Be sure to hit the thumbs up - I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies Jump on a 1 to 1 coaching with me - You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
Индикатор Pine Script™
от Daveatt
8
Candlestick.Detector.with.SMA.EMACandlestick Pattern Detector with 2 x MA optional (20, 200) 2 x EMA optional (50,200) Incldudes Doji = color > #050800 Shooting Star, color > orange, shape=arrow down Evening Star, color > red, shape = diamond Morning Star, color=orange, shape = diamond Hammer, color=blue, shape = diamond, text="H" Inverted Hammer, color=blue, shape = diamond, text="IH" Bearish Harami", color=red, shape =arrowdown, text="Bearish Harami" Bullish Harami", color=green, shape = arrowup, text="Bullish Harami" Bearish Engulfing", color=red, shape = arrowdown, text="Bearish Engulfing" Bullish Engulfing", color=green, shape.arrowup, text="Bullish Engulfing" Piercing Line", color=green, shape = arrowup, text="Piercing Line" Bullish Belt", color=green, shape = arrowup, text="Bullish Belt" Bullish Kicker", color=green, shape.arrowup, text="Bullish Kicker" Bearish Kicker", color=red, shape.arrowdown, text="Bearish Kicker" Hanging Man", color=red, shape=arrowdown, text="Hanging Man" Dark Cloud Cover", color=red, shape =arrowdown, text="Dark Cloud Cover."
Индикатор Pine Script™
от ssari
1