Big Money by Chartedhighs

Big Money by Chartedhighs

Script Overview:

The "Big Money" indicator is designed to help traders easily identify significant price movements on their charts. This script visually highlights candles where the price change from open to close exceeds a user-defined threshold. It draws attention to these key moments, providing a clear indication of potential big-money moves in the market.

Key Features:

Customizable Threshold:

Allows users to set a specific price change threshold via the input menu (Highlight Threshold).
Only candles with a price change greater than or equal to this value are highlighted.
Candle Highlighting:

Uses color-coded bars to emphasize candles meeting the threshold condition.
Candles are highlighted in yellow for immediate visual clarity.
Dynamic Box Annotation:

Draws a semi-transparent yellow box around highlighted candles.
Extends the box dynamically to subsequent bars, providing an area of interest for continued analysis.

Labeling for Key Moments:

Automatically adds a label ("BigMoney") above highlighted bars to further indicate significant price action.

How It Works:

The script calculates the price change for each bar (close - open) and compares it to the user-defined threshold.
If the price change meets or exceeds the threshold:
The bar color changes to yellow.
A box is drawn around the candle to highlight the price movement visually.
A label is added above the candle to emphasize its significance.
The box extends dynamically until the next highlighted candle, allowing users to track zones of activity.

Customization Options:

Highlight Threshold: Modify the threshold value to suit your trading style or instrument volatility.

Use Case:

This indicator is ideal for traders looking to identify significant price movements quickly. It helps to locate areas where "big money" might be flowing into the market, offering potential entry or exit opportunities.

How to Use:

Add the "Big Money by Chartedhighs" script to your TradingView chart.
Set the Highlight Threshold to a value suitable for your market or timeframe.
Observe highlighted candles and boxes for potential trading signals or areas of interest.
This script is highly visual, intuitive, and customizable, making it a great addition to any trader's toolkit!