EasyTradingSignals

Magic Candle

This indicator is very simple, but surprisingly effective, and I haven't found any mention of something similar, so here it is. I hope it helps you in your stock trading.

Someone made a comment in a trading room that the 8 am candle of the stock looked odd, so I quickly checked all the other stocks I had on my screen, and for all of them, the 8 am candle was just a little strange. What's more, is that the stock would often respond to the high and low values of that 8 am candle later on in the day. It turned out to be quite an important support and resistance level indicator for stocks which I've used in my trading ever since I discovered it.

After testing it out day after day on multiple stocks, I decided to write this indicator, which not only projects the high and low values of the 8 am candle, but also the previous day's closing price.

If you find that there's another "magic candle" out there for Forex or Crypto, please let me know!

You have the option to set the "magic candle" to another time, if you want to experiment with things.
Notas de Lançamento: The update now adds extension multiples of the opening candle (you can set it to whatever you want it to be).

https://i.imgur.com/GeEfkdW.png
Notas de Lançamento: Added more time intervals as requested by users.

Doing what I can to help people trade better. Past performance doesn't guarantee future results. Trade at your own risk. This is not financial advice, it is personal opinion, I'm not a financial adviser. I may have a stake in what I write about.
Script de código aberto

Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.

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.

Quer usar esse script no gráfico?