OPEN-SOURCE SCRIPT
Candlestick Strength and Volatility Readout

Displays a readout on the top right corner of the screen displaying a two basic calculations (volatility and strength; i.e. candlestick size and how close to the highs or lows it closed) for more convenient candlestick (price action) analysis.
Due to restrictions with Pine Script (or my knowledge thereof) only the current and previous candlestick data is shown, rather than the one currently hovered over.
The data is derived via two simple calculations; volatility being division between the range of the candlestick's high and low by the ATR; 'strength' (what I like to call it) being the range of the body by the range of the open to high or low, depending on the facing direction (positive or negative candlestick). These are expressed as percentages and will turn green depending on the set threshold.
Using this, one can effectively automate calculations you'd have to do by hand otherwise. I personally use these as entry filters in my trading, so it helps to not have to measure, remeasure, and divide before each potential entry.
Settings are implemented to change certain variables to your liking.
Due to restrictions with Pine Script (or my knowledge thereof) only the current and previous candlestick data is shown, rather than the one currently hovered over.
The data is derived via two simple calculations; volatility being division between the range of the candlestick's high and low by the ATR; 'strength' (what I like to call it) being the range of the body by the range of the open to high or low, depending on the facing direction (positive or negative candlestick). These are expressed as percentages and will turn green depending on the set threshold.
Using this, one can effectively automate calculations you'd have to do by hand otherwise. I personally use these as entry filters in my trading, so it helps to not have to measure, remeasure, and divide before each potential entry.
Settings are implemented to change certain variables to your liking.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.