OPEN-SOURCE SCRIPT
Trading System Custom candle range
The indicator calculates that the range of the candle is greater than the average of the ranges of the last 5 candles.
It also calculates that the shadows are less than 30% of the entire range.
When it satisfies these two conditions the candle is signaled with an arrow, but there is the possibility of customizing the signal.
There are 2 ema, one of 9 and the other of 21 customizable periods.
The generic alert option has been added, that is, when the alert is signaled it is activated, regardless of whether it is bullish or bearish.
The candle that respects the previous conditions, if it then crosses one of the two ema and its half exceeds the level of the external ema, this candle is signaled with a green dot, covering the arrow that already indicated it was a signaled candle.
In addition, lines are drawn that expose a type of trade management:
The red line is the stop loss which is located at a distance of 50% of the range;
The yellow line is the closing level of the candle;
The blue line is the 50% extension of the range;
The green line is the extension of the range of the candle by 1.
In any case, in the settings they can be customized
It also calculates that the shadows are less than 30% of the entire range.
When it satisfies these two conditions the candle is signaled with an arrow, but there is the possibility of customizing the signal.
There are 2 ema, one of 9 and the other of 21 customizable periods.
The generic alert option has been added, that is, when the alert is signaled it is activated, regardless of whether it is bullish or bearish.
The candle that respects the previous conditions, if it then crosses one of the two ema and its half exceeds the level of the external ema, this candle is signaled with a green dot, covering the arrow that already indicated it was a signaled candle.
In addition, lines are drawn that expose a type of trade management:
The red line is the stop loss which is located at a distance of 50% of the range;
The yellow line is the closing level of the candle;
The blue line is the 50% extension of the range;
The green line is the extension of the range of the candle by 1.
In any case, in the settings they can be customized
Script de código aberto
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.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
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.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.