OPEN-SOURCE SCRIPT
Candle Ratio Alert
**Candle Ratio Alert System for Multi-Pair, 5-Minute Charts**
This Pine Script indicator is designed for traders who want to monitor specific candle patterns across multiple assets on a 5-minute timeframe. The tool calculates the ratio of the candle's body size to its total wick size, allowing you to identify significant candles based on their structure. It is ideal for strategies that rely on candlestick analysis, such as breakout or reversal trading.
### Key Features:
1. **Customizable Threshold**: Set the body-to-wick ratio using an input slider, ensuring flexibility to match your strategy.
2. **Visual Alerts**: The script plots a purple marker above candles that meet the specified criteria, making it easy to spot qualifying patterns at a glance.
3. **Dynamic Alerts**: Integrated alert functionality notifies you via email or app when a candle satisfies the ratio condition. Alerts include the asset's ticker and timeframe for quick action.
4. **Multi-Pair Capability**: Compatible with assets like XAUUSD, BTCUSD, EURUSD, and GBPUSD, making it versatile for Forex and cryptocurrency trading.
### How It Works:
The script calculates the body size and total wick size of each candle. If the ratio exceeds the user-defined threshold, the script triggers a visual marker and sends an alert. The 5-minute timeframe ensures rapid identification of trading opportunities in volatile markets.
With its intuitive interface and powerful alert system, this tool streamlines your trading workflow, helping you stay focused on key market movements. Perfect for both beginners and experienced traders seeking precision and efficiency in their analysis.
This Pine Script indicator is designed for traders who want to monitor specific candle patterns across multiple assets on a 5-minute timeframe. The tool calculates the ratio of the candle's body size to its total wick size, allowing you to identify significant candles based on their structure. It is ideal for strategies that rely on candlestick analysis, such as breakout or reversal trading.
### Key Features:
1. **Customizable Threshold**: Set the body-to-wick ratio using an input slider, ensuring flexibility to match your strategy.
2. **Visual Alerts**: The script plots a purple marker above candles that meet the specified criteria, making it easy to spot qualifying patterns at a glance.
3. **Dynamic Alerts**: Integrated alert functionality notifies you via email or app when a candle satisfies the ratio condition. Alerts include the asset's ticker and timeframe for quick action.
4. **Multi-Pair Capability**: Compatible with assets like XAUUSD, BTCUSD, EURUSD, and GBPUSD, making it versatile for Forex and cryptocurrency trading.
### How It Works:
The script calculates the body size and total wick size of each candle. If the ratio exceeds the user-defined threshold, the script triggers a visual marker and sends an alert. The 5-minute timeframe ensures rapid identification of trading opportunities in volatile markets.
With its intuitive interface and powerful alert system, this tool streamlines your trading workflow, helping you stay focused on key market movements. Perfect for both beginners and experienced traders seeking precision and efficiency in their analysis.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.