Candle Close Counter

6 hari yang lalu

This indicator counts how many candles have closed above, below, or exactly at a user-defined price level
starting from a specified time. It provides real-time statistics to help traders analyze price behavior
around key levels.

HOW IT WORKS:
The indicator begins counting at your chosen start time and tracks each candle's closing price relative
to your specified price level. It maintains running totals of candles that close above, below, and at
the price level, displaying this information both in a chart label and a statistics table.

PRACTICAL APPLICATIONS:

1. CONSOLIDATION ANALYSIS:
Use this tool to identify and measure consolidation patterns by placing the price level at the midpoint
of a trading range. A balanced count of candles closing above and below the midpoint suggests genuine
consolidation with no directional bias.

2. RANGE MIDPOINT MONITORING:
During consolidation phases, set the price level to the 50% retracement of the range midpoint between
the high and low. Monitor how price interacts with this level over time.

3. SUPPORT/RESISTANCE VALIDATION:
Place the price level at a key support or resistance zone and start counting from a significant market
event (news release, session open, etc.). The distribution of closes helps validate whether the level
is holding or weakening.

4. SESSION ANALYSIS:
Set the start time to the beginning of a trading session (e.g., 9:30 AM ET for regular hours) and place
the level at the opening price or previous day's close.

3 hari yang lalu

Catatan Rilis

Now lists "End Time" as an input