OPEN-SOURCE SCRIPT

Bull/Bear Candle

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This script will display a small triangle under the latest two candles to indicate whether that candle is bullish or bearish based on the following definition.

A bullish candle closes in the top portion of the trading range of the candle while a bearish candle closes in the bottom portion of the trading range of the candle.

The cutoff is currently set at 65% (you can adjust it) so the close must be outside or equal to 65% of the trading range to be considered bullish or bearish. If less than 65% the triangle will indicate a neutral candle.

Colours are;
green triangle = bullish candle
red triangle = bearish candle
yellow triangle = neutral candle

I hope this helps those using TraderCobb's cradle strategy.

Pernyataan Penyangkalan

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