70% rule strength/trend/reversalThis indicator tells you which candle closed strong for the day by identifying if the price closed above 70% of the candle's total height. this can help you identify reversals/new trends/ renewed strength in the current trend.
The indicator colors such candle green and if the candle closes with increase in price by 5% or higher then marks an asterisk under the candle.
HOPE THIS HELPS
Continuationpatterns
Japanese Candlestick Patterns💡 Japanese Candlesticks are a visual representation of price movements in financial markets. They were first developed by Japanese rice traders in the 18th century to analyze the price of rice contracts, and have since been adopted by traders across the world for a wide range of assets.
📌 A candlestick is composed of a rectangular body and two thin lines, known as wicks, that extend from the top and bottom of the body. The body represents the difference between the opening and closing prices of the asset during a specific time period, while the wicks indicate the high and low prices reached during that period.
📌 By using these and other candlestick patterns, traders can identify potential buying and selling opportunities and manage their risk accordingly. However, it's important to note that candlestick patterns should be used in conjunction with other technical and fundamental analysis tools to make well-informed trading decisions.
📌 Candlestick patterns are particularly useful because they are based on price action rather than external factors such as news or economic data. This makes them useful for traders who employ technical analysis, as they can use candlestick patterns to identify potential trading opportunities and manage their risk accordingly.
🚀 Candlesticks can be used to identify market trends, as well as potential buying and selling opportunities. By analyzing the patterns formed by multiple candlesticks, traders can gain insights into the behavior of the market and make informed trading decisions. Overall, Japanese Candlesticks are a powerful tool for technical analysis that can provide valuable insights into financial markets.
🔍 THE PATTERNS THAT ARE RECOGNIZED:
🔄 Reversal Patterns
* Counterattack Lines
* Dark-Cloud Cover
* Engulfing ( Bearish / Bullish )
* Hammer
* Hanging Man
* Harami ( Bearish / Bullish )
* In Neck
* On Neck
* Piercing
* Three Black Crows
* Thrusting
* Upside Gap Two Crows
⭐️ Stars
* Abandoned Baby
* Evening star
* Inverted Hammer
* Morning Star
* Shooting Star
🎯 Doji
* Doji
* Dragonfly Doji
* Evening Doji Star
* Gravestone Doji
* Long Legged Doji
* Morning Doji Star
🔥 Continuation Patterns
* Falling Three Methods
* Rising Three Methods
* Tasuki ( Upside / Downside )
🥊 Utility
* Long Lower Shadow
* Long Upper Shadow
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HTF Candlestick Patterns [TradingView] vX by DGTCandlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument. They have their origins in the centuries-old Japanese rice trade and have made their way into modern day price charting.
It’s important to note that candlestick patterns aren’t necessarily a buy or sell signal by themselves. They are instead a way to look at market structure and a potential indication of an upcoming opportunity. It is always useful to look at candlestick patterns in context like any other market analysis tool and candlestick patterns are most useful when used in combination with other techniques. There are countless candlestick patterns that traders can use to identify areas of interest on a chart, where some candlestick patterns may provide insights into the balance between buyers and sellers, others may indicate a reversal, continuation, or indecision.
Reversal patterns are quite useful when used in context. Reversal patterns should form at the bottom of a downtrend or at the top of an uptrend. Otherwise, they are not a reversal patterns, but continuation patterns. Most reversal patterns require confirmation such as price move in the direction of reversal accompanied by appropriate trading volume. The reversal patterns can further be confirmed through other means of traditional technical analysis—like trend lines, momentum, oscillators, or volume indicators—to reaffirm buying or selling pressure. The patterns themselves do not guarantee that the trend will reverse. Investors should always confirm reversal by the subsequent price action before initiating a trade.
This study implements some of the most commonly used candlestick patterns in a context with directional movement indicator. On request users can adjust the strong trend threshold from dialog box, eighter can disabled correlation with directional movement indicator. To add additional sight to analysis the simple moving averages of 20, 50, 100 and 200 periods are added (configurable)
You may add additional indicators of your choice. Colored DMI, BB Cloud or Price Distance to its MAs may help
Enjoy it!
Disclaimer: The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd tradingview user liable for any possible claim for damages arising from any decision you make based on use of the script