Ghost Candles (Pattern Matching)

project future price action. Unlike standard indicators that lag, this script attempts to look forward by finding historically similar price patterns and projecting them as "Ghost Candles."

Key Features:

🕯️ Ghost Candles (Pattern Matching): The script scans up to 5,000 bars of history to find price patterns that match the current market structure (Correlation > 80%). It then projects the historical outcome onto the current chart as "Ghost Candles," giving you a visual roadmap of potential future moves (Open, High, Low, Close).

🌊 Regime Detection (FDI): Uses the Fractal Dimension Index (FDI) to determine if the market is Trending or Choppy.

Green Background: Trending Market (Safe to follow breakouts).

Red Background: Choppy/Ranging Market (Expect fakeouts).

📊 Hurst Exponent: Measures the "memory" of the market to confirm trend persistence.

💎 Fractal Levels: Automatically plots Williams Fractal Support & Resistance levels to identify key breakout or reversal zones.

How to Use:

Ghost Candles: Look for the translucent candles extending to the right of the current price.

Green Ghost: Probability of a bullish move based on history.

Red Ghost: Probability of a bearish move.

Note: The "Pattern Match %" label tells you how similar the current setup is to the historical one. Higher % = Stronger match.

Background Color:

Trade with the trend when the background is Green.

Be cautious or trade mean reversion when the background is Red.

Support/Resistance: Use the horizontal lines as targets or stop-loss levels.

Settings:

History Scan Window: How far back to search for matches (Default: 2000 bars).

Similarity Threshold: Minimum correlation required to show a projection (Default: 0.80 or 80%).

Prediction Length: Number of "Ghost Candles" to project (Default: 10).

Disclaimer: This tool is for educational purposes and analyzes historical probabilities. Past performance is not indicative of future results. Always use risk management.