Candle size in pips

6 de dez. de 2023

Description

Enhance your trading strategy with precision using this script, designed to measure the range of a candle from wick to wick in pips. Whether you're implementing a specific pip requirement within a candle for your strategy, or simply seeking to better understand market dynamics, this tool provides valuable insights. The script is calculating the amount of pips between the high and the low then compares it to the minimal size you declared. If the amount of pips is more or equal to minimal size it will show the label.

Features

Alert Functionality: Opt to receive alerts by checking the checkbox (default: false).
Customizable Pip Threshold: Tailor the script to your needs by setting the minimum required pips to display on the screen (default: 12).
Different shape: circle, triangle up, triangle down, none

How to Use

Personalize your trading approach by integrating this script with your preferred strategy. For instance, in my strategy involving a 3M continuation, I leverage this tool to determine the pip count of the M15 candle before making entry decisions.

Note: Ensure you understand your strategy's requirements and adjust the script settings accordingly for optimal results.

Feel free to reach out if you have any questions or require further assistance in maximizing the utility of this script.

6 de abr.

Notas de Lançamento

Choose between HL or OC (High and Low or Open and Close)

I've added a feature that help you choose between high and low or open and close. it has been requested.

Resolved bug

While adding the new feature, I noticed the script wasn't taking correctly the candle.

5 de ago.

Notas de Lançamento

Updates

Text Customization

• Enjoy greater flexibility with the ability to customize the color of the text displaying the pips amount.
  
• Easily select the desired text size from a convenient dropdown menu offering Tiny, Small, Normal, and Large options.
  

Enhanced Visuals

Expand your customization options with the new ability to modify the colors of the shapes indicating candle size.

2 de dez.

Notas de Lançamento

Update

Maximum Value

Users can now set a maximum pip size limit, enabling the script to filter and display candles only within a defined range.

This enhancement allows traders to better focus on candles that fall within both minimum and maximum pip thresholds.

2 de dez.

Notas de Lançamento

[Patch Notes]

[Alerts]
Users can now receive alerts when the candle size (in pips) falls within the defined minimum and maximum thresholds.

How to Enable Alerts:

Ensure the "Get alert" box is toggled in the indicator settings.
Create an alert in TradingView by:
Clicking the "..." menu on the indicator.
Selecting "Add alert..." to activate alerts for the indicator.

⚠️ Note: If these steps are not completed, the alert feature will not function properly

2 de dez.

Notas de Lançamento

Update chart