CFR - Candle Formation Ratio

26 Sep

Description
This indicator is designed to detect candles with small bodies and significant wick-to-body ratios, often useful for identifying doji-like structures and potential accumulation areas.

Features

• Filter candles by maximum body size (% of the total candle range).
  
• Require that wicks are at least X times larger than the body.
  
• Define the position of the body within the candle (e.g., body must be between 40% and 60% of the candle height).
  
• Visual output: a single arrow marker when conditions are met.
  
• Fully customizable marker color and size.
  

⚠️ Note: The settings of this version are currently in Turkish. An English version of the settings will be released in the future.

7 Okt

Catatan Rilis

Description

The CFR - Candle Formation Ratio is a powerful, flexible tool for detecting highly specific candle structures — including small-body candles, dojis, and accumulation-type formations.
With the latest update, you can now track up to three completely different candle formation types simultaneously, each with its own independent configuration.

This indicator helps traders identify candles that signal indecision, absorption, or localized accumulation/distribution behavior — often useful in market structure and volume context.

🧭 Key Features

✅ Multi-Formation System

• You can now define up to three separate candlestick formations at once.
  
• Each formation has its own customizable settings for body size, wick ratio, and body position.
  
• Instantly visualize multiple structure types on the same chart, each with a different color.
  

✅ Doji-Logic Enhancement

• Candles with a body size of zero (open = close) are now properly detected.
  
• Even if a candle has no body, it will be recognized if its midpoint lies within your defined body-position range.
  
• This enables precise detection of pure doji and spinning-top structures.
  

✅ Cleaner English Interface

• All settings, tooltips, and group labels are now in English, improving usability.
  
• Each formation is separated by a clear section line in the settings panel, making configuration intuitive.
  

✅ Advanced Body & Wick Filtering

• Filter by maximum body size (as a % of total candle height).
  
• Require that upper or lower wicks are at least X times larger than the body.
  
• Define where the body must be located within the candle — for example, between 40 % and 60 % of the full range.
  

✅ Visual Output

• Displays a single arrow marker below the candle when conditions are met.
  
• Each formation can have its own color, making multiple pattern types easy to distinguish
  

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🧩Use Cases

• Identifying accumulation or distribution phases.
  
• Spotting reversal points (hammer / shooting star / doji zones).
  
• Filtering market structure signals based on precise candle shape.
  
• Combining with volume or trend context for high-probability setups.
  

⚠️ Notes

• This version is fully English-translated, including tooltips and section names.
  
• Future updates may include formation grouping logic and built-in alerts.
  
• For users of the earlier Turkish version: settings are now equivalent, but translated and reorganized for clarity.