[PX] MTF Candle Sentiment

This indicator calculates the candlestick sentiment for the selected timeframe. The calculation consists of two steps:

• Step 1: Positioning of the closing price:
  Upper Third = High Close
  Mid Third = Mid Close
  Lower Third = Low Close
  
• Step 2: Positioning of the closing price in comparison to its previous candle:
  Close above the high of the previous candle = Bull candle
  Close within the range of the previous candle = Range candle
  Close below the low of the previous candle = Bear candle
  

Those two steps create 9 possible scores, which will determine the color of the graph.

If you are looking for someone to develop your own indicator or trading strategy, don't hesitate to get in touch with me here on TradingView or below.

Contact:
pascal-simon.de
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