This script shows how a higher timeframe candle evolves over time. It was created as a visual aid to #TheStrat and provides a new way of looking at Timeframe Continuity.
█ FEATURES
General
HTF: Higher Timeframe selection with dropdown and ability to manually input a timeframe that is not present in the dropdown.
Label: Show a label with the selected higher timeframe.
Marker: Shows a marker symbol at the start of each new higher timeframe.
Align: Aligns the candles around a selected center line.
The Strat
Multi-timeframe analysis is used extensively in #TheStrat (created by Rob Smith), so the ability to add #TheStrat coloring has been made available.
Scenario: Define the colors for the strat scenario's.
Coloring of: Choose which part of the candles you want the selected strat scenario colors to be applied to.
Band: Display a band that shows the active strat scenario color of the selected higher timeframe.
All features are completely customizable.
リリースノート
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Eliminated the request.security() call for better performance. h/t @LucF
Just wrote my own dumbed down version of this before searching for it. Maybe someone finds it useful.
//@version=5
indicator("DailyCandle")
s_hl = input.bool(false, "Show Hi/Lo")
t = time("D") != time("D")[1]
var o = 0.0, var h = 0.0, var l = 0.0, var c = 0.0, var z = 0.0
if t
z := open
o := open - z
h := high - z
l := low - z
if not t
h := high - z > h ? high - z : h[1]
l := low - z < l ? low - z : l[1]
c := close - z
plotcandle(o, barstate.islast ? h : math.max(o,c), barstate.islast ? l : math.min(o,c), c, "Daily Candle Shape", color = c > o ? color.green : color.red, bordercolor = color.black, wickcolor = color.black, editable=true)
plot(s_hl ? h : na, color=color.black,style=plot.style_circles,linewidth=1)
plot(s_hl ? l : na, color=color.black,style=plot.style_circles,linewidth=1)
var line ln = line(na)
if t and timeframe.isintraday
ln := line.new(bar_index, 2.22, bar_index, 0 - 2.22, xloc=xloc.bar_index, color=color.new(color.black,45), style = line.style_dashed, width = 1, extend=extend.both)
It has a vertical line to mark the new day start and it shows the high/low as a circle plot on historical candles, while showing the wicks on the current candle. Kinda cleans up the visual without losing sight of the hi/lo data points. Interestingly when you look at it without the hi/low data, it looks just like any other oscillator. I found that really interesting. Makes sense. Oscillators are just derivatives of price. Anywaysss. Thanks much for publishing this.
raychartss
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Thank you so much for this gift, i really love this indicator GJ man!
Brickhead
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Incredible indicator for theStrat. Gives a better visual than standard FTFC indicators. Thank you!