OPEN-SOURCE SCRIPT
Morning & Evening Star
This Pine Script code is designed to identify Morning Star and Evening Star candlestick patterns on a chart. Here's how it works:
Calculate Candle Body and Wick Sizes: The script calculates the size of the candle body and wick based on the difference between the close and open prices, as well as the difference between the high and the maximum of the close and open prices.
Determine if the Candle is a Doji: It checks if the candle is a doji by comparing the size of the body to a fraction of the wick size. If the body size is less than or equal to 20% of the wick size, it is considered a doji.
Determine if the Current Candle is Bullish or Bearish: It checks if the current candle is bullish (close price is higher than open price) or bearish (close price is lower than open price).
Plot Shapes for Doji and Candles: It plots shapes on the chart to indicate buy and sell signals based on the presence of a doji and the formation of Morning Star or Evening Star patterns. These shapes are displayed below (for buy signals) or above (for sell signals) the respective candlesticks.
Combine this indicator with my support and resistance zones indicator for better results
Calculate Candle Body and Wick Sizes: The script calculates the size of the candle body and wick based on the difference between the close and open prices, as well as the difference between the high and the maximum of the close and open prices.
Determine if the Candle is a Doji: It checks if the candle is a doji by comparing the size of the body to a fraction of the wick size. If the body size is less than or equal to 20% of the wick size, it is considered a doji.
Determine if the Current Candle is Bullish or Bearish: It checks if the current candle is bullish (close price is higher than open price) or bearish (close price is lower than open price).
Plot Shapes for Doji and Candles: It plots shapes on the chart to indicate buy and sell signals based on the presence of a doji and the formation of Morning Star or Evening Star patterns. These shapes are displayed below (for buy signals) or above (for sell signals) the respective candlesticks.
Combine this indicator with my support and resistance zones indicator for better results
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.