High Volume Candles - RVolInspired by Key bars from Option Stalker Pro.
This one is meant to be used on charts where the interval is >=1D.
Highlights candles where RVol is > 1.2.
Helps to not accidentally miss that a candle move happened on high volume (or that it did not happen on high volume...), like potential reversals or resistance/support breaks.
Make sure to move this indicator above the ticker in the Object Tree, so that it is drawn on top of the ticker's candles.
More infos: www.reddit.com
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High Volume Candles by Time PeriodDescription:
The High Volume Candles indicator (HVC) is a technical analysis tool designed to identify candles with high trading volume. It allows traders to quickly spot periods of significant market activity based on volume.
How it Works:
The HVC indicator analyzes the volume of each candle in relation to the highest volume observed over a specified lookback period. The indicator compares the current volume with the highest volume within the defined lookback period and identifies candles that have volume equal to or greater than this threshold. It then distinguishes between bullish and bearish candles and assigns custom colors to highlight these high volume occurrences.
Usage:
To effectively utilize the High Volume Candles indicator, follow these steps:
1. Apply the HVC indicator to your chart by adding it from the available indicators.
2. Customize the lookback period according to your trading preferences. This parameter determines the number of previous candles to consider when calculating the highest volume.
3. Observe the candles on the chart:
- Bullish candles (blue by default) indicate periods of high volume when the closing price is higher than the opening price.
- Bearish candles (yellow by default) indicate periods of high volume when the closing price is lower than the opening price.
4. Pay attention to the color-coded volume indications within the candles, which highlight periods of high trading activity.
5. Analyze the volume patterns in conjunction with price action to identify potential trading opportunities. High volume candles often indicate increased market participation and can suggest significant price moves or reversals.
6. Combine the analysis of high volume candles with other technical analysis tools, such as trend lines, support and resistance levels, or indicators, to confirm potential trade setups.
7. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Uptrend Downtrend Loopback Candle Identification LibThis library is for identifying uptrends and downtrends using a loopback candle analysis method. Which contains two functions:
uptrendLoopbackCandleIdentification() and downtrendLoopbackCandleIdentification() . These functions check if the current candle is part of an uptrend or downtrend, respectively, based on the specified lookback period.
The uptrendLoopbackCandleIdentification() takes two arguments: index , which is the index of the current bar, and lookbackPeriod , which is the number of previous candles to check for an uptrend. The function returns false if the index is less than the lookback period. Otherwise, it initializes a boolean variable isHigherHigh as true and loops through the previous candles. If any of the previous candles have a higher high than the current candle, isHigherHigh is set to false , and the loop breaks. Finally, the function returns the value of isHigherHigh .
The downtrendLoopbackCandleIdentification() takes the same arguments and returns false if the index is less than the lookback period. The function initializes a boolean variable isHigherLow as true and loops through the previous candles. If any of the previous candles have a higher low than the current candle, isHigherLow is set to false , and the loop breaks. The function returns the value of isHigherLow .
Secondary Candle OverlayThis simple script is meant to allow the user to select another symbol to add onto their chart and plot the candlesticks for that symbol at the selected resolution requested.
Please see the tooltip provided by the 'Secondary Symbol' input for more details with regards to properly using this script on symbols that have vastly different valuations, it will help with getting the symbol requested to scale properly with the primary symbol on the chart.
The user may also input which colors are used for bullish/bearish candles as well as the symbol itself and its resolution.
IMPORTANT NOTE: THIS SCRIPT DOES NOT ACCOUNT FOR SYMBOLS THAT ARE NOT CONTINUOUS (The defval for the symbol is TVC:DXY which closes on weekends whereas a cryptocurrency like Bitcoin does not stop trading ever; candles on these kinds of markets will be repeated when overlaid onto markets that do not have this property.)
Centered Candles [racer8]Brief 💜
This indicator allows users to more easily compare candlesticks by centering them along a zero line.
Also, I've added some moving average lines for the highs, lows, and closes for these centered candles.
Enjoy 😉
HTF Candle Profile [ChartPrime]⯁ OVERVIEW
The HTF Candle Profile visualizes higher-timeframe candle structure and its internal volume distribution directly on lower-timeframe charts. It automatically detects changes in higher-timeframe periods (daily, weekly, or monthly) and constructs a complete volume profile for each, allowing traders to see how volume is distributed across the range of that higher-timeframe candle. This helps identify whether momentum is supported by real volume strength or trapped price movement.
⯁ LOGIC
When a new higher-timeframe candle begins, the indicator starts collecting data for its open, high, low, close, and volume range.
Once sufficient bars have passed (defined by the Min Period Profile input), it calculates a full profile using adaptive bin sizing derived from the range (High–Low) and ATR for scaling precision.
The resulting bins represent the volume concentration at each price level of that higher-timeframe candle.
A Point of Control (PoC) is highlighted — the level where the most volume occurred.
The indicator then draws the higher-timeframe candle body and wicks at the chart’s right side, giving visual context of bullish or bearish sentiment.
⯁ FEATURES
Automatic HTF Detection: Identifies new Daily, Weekly, or Monthly periods and updates profiles in real time.
Dynamic Bin Calculation: Automatically adjusts bin size based on ATR and candle height for accurate volume granularity.
Volume Profile Rendering: Displays colored volume bars extending from the candle, showing where trading activity was concentrated.
Higher-Timeframe Candle Representation: Plots the full HTF candle (open, close, high, low) on the right side of the chart for visual clarity.
PoC Level & Labels: Marks the point of maximum volume within the candle profile with a line and volume label.
Configurable Levels: Toggle display of Open, Close, High, Low, and PoC for each higher-timeframe segment.
Color-coded Sentiment: Candle and profile colors reflect bullish or bearish momentum.
⯁ CONCLUSION
The HTF Candle Profile bridges lower- and higher-timeframe analysis by embedding high-resolution volume data within each major candle. It enables traders to see where liquidity and trading activity cluster inside higher-timeframe structures — revealing whether trends are volume-backed or hollow. Perfect for combining structural insight with volume confluence when analyzing market sentiment transitions across timeframes.
Countdown & Candle Recap DashboardThis script provides a compact dashboard showing a countdown timer and a recap of the previous candles. Ideal for traders who want to monitor short-term price action and candle behavior across different timeframes.
Features: • Countdown display for current candle • Summary of previous candles (PrevCndl1, PrevCndl2) • TimeFrame Recap section for quick analysis
Designed for scalpers, intraday traders, and anyone who values precision timing and candle structure.
Highlight Candle Body ≤ 10 Ticks (Clean & Subtle)Purpose:
This indicator highlights candlesticks where the body size (difference between open and close) is 10 ticks or less, specifically for instruments like Crude Oil futures (CL) where 1 tick = 0.01.
How it works:
It calculates the body size: abs(close - open)
If the body is ≤ 0.10 (10 ticks), the candle is softly colored in muted orange.
Wicks are ignored — only the body is considered.
No additional shapes or markers — clean and minimal.
Use case:
Helps identify periods of indecision or low momentum — such as potential pause candles, traps, or setups just before volatility returns.
Circular Candlestick ChartAn original (but impractical) way to represent a candlestick chart using circles arc.
The most recent candles are further away from the circle origin. Note that OHLC values follow a clockwise direction. A higher arc length would indicate candles with a higher body or wick range.
The Length settings determine the number of past candles to be included in the circular candlestick chart. The Width setting control the width of the circular chart. The Spacing setting controls the space between each arcs. Finally, the Precision settings allow obtaining a more precise representation of candles, with lower values returning more precise results, however, more precision requires a higher amount of lines. Settings are quite hard to adjust, using a higher length might require a lower spacing value.
Additionally, the script includes two pointers indicating the location of the 75 (in blue) and 25 (in orange) percentiles. This allows obtaining an estimate of the current market sentiment, with the most recent arcs laying closer to the 75 percentile pointer indicating an up-trend.
This new way to represent candlesticks might be useful to more easily identify candles clusters or to find new price patterns. Who knows, we know that new ways to see prices always stimulate traders imagination.
See you next year.
Stochastic RSI Heat Candles OverlayThis script is based on the Stochastic RSI indicator.
Candles are dynamically colored with a customizable RGB shading directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green is overgought & red is oversold.
Options:
Shading colors: Choose between Red/Green, Green/Blue, and Blue/Red shadings to represent the SRSI heat.
Invert colors: Switch colors of the selected shading.
Third color: Select a value from 0 to 255 for the third color which does not vary.
Transparency: Select the transparency value.
Overlay style : Choose to color the whole candle, or only borders and wick.
Show candle side: If you choose to fully fill candles with the SRSI heat color , enable this option to plot shapes representing the candles directions.
Candle marks colors: Select bull and bear colors for direction shapes.
Overbought and Oversold situations are also represented by colored shapes at the top of the chart.
Standards Stochastic RSI parameters.
Examples:
Notes:
Do not forget to bring the script to the front of your chart to avoid being covered by default candles.
Next improvements would probably be a better coloring algorithm, however, do not hesitate to suggest any modifications in comments.
Initially, I shared a Stochastic RSI Heat Bollinger Bands indicator which gave me the idea to develop this one, you can find it on my profile.
Reversal Candlestick Pattern Detector// Name: Reversal Candlestick Pattern Detector
// Condition:
// 1-up move: last n candles, 3/5 move higher; and/or the last is the highest in past n bars
// 2-down move: last n candles, 3/5 move lower; and/or the last is the lowest in past n bars
//
// Show Bullish reversal pattern in down move; Show Bearish reversal pattern in up move;
//
//Reversal candlestick patterns:
//1. Hammer/Shooting Star,
//2. Engulfing,
//3. Morning/Evening Star,
//4. Harami, --Also Harami could be used in continuation (Rally based Rally/Drop based Drop);
//5. Piercing/Dark Cloud cover,
//6. Hook Reversal
//7. Breakaway Gap, or Gap Crosses SMA8, SMA50. This is for un-filled Gap only. low >high or high
Bull/Bear CandleThis script will display a small triangle under the latest two candles to indicate whether that candle is bullish or bearish based on the following definition.
A bullish candle closes in the top portion of the trading range of the candle while a bearish candle closes in the bottom portion of the trading range of the candle.
The cutoff is currently set at 65% (you can adjust it) so the close must be outside or equal to 65% of the trading range to be considered bullish or bearish. If less than 65% the triangle will indicate a neutral candle.
Colours are;
green triangle = bullish candle
red triangle = bearish candle
yellow triangle = neutral candle
I hope this helps those using TraderCobb's cradle strategy.
Stocktech- Neutral Candle VisualiserStocktech.in™ — Neutral Candle Visualizer
Stocktech Neutral Candle Visualizer highlights price candles based on body strength.
Large-body candles follow trend direction (green/red), while small or neutral candles are marked in blue.
Simple, clean, and optimized for discretionary traders who prefer clear visual cues without indicators.
Features:
Auto-colored candles based on body size
Trend candles = green (bull) / red (bear)
Neutral/low-strength candles = blue
Works on all markets & timeframes
Created by Stocktech.in™
12 Band Volume matched Candles📌 12 Band Volume matched Candles (Official Description)
12 Band Volume matched Candles is a next-generation volume-strength visualisation tool designed for traders who rely on precision, speed, and clarity.
Instead of colouring candles by price action or relative indicators, this script maps every candle to one of 12 absolute-volume strength bands, using real contract/share volume thresholds that you define.
No guessing.
No subjective smoothing.
No repainting.
Just pure, clean, calibrated volume pressure — visualised instantly.
🔥 Why This Indicator Exists
Traditional volume colouring is vague, delayed, or tied to assumptions (like moving averages).
Scalpers, orderflow watchers, and tape-readers all know the truth:
👉 The raw size of volume matters more than relative volume.
This tool removes all ambiguity and lets you define exact thresholds that match the behaviour of your market:
5k volume
10k volume
20k
35k
50k
70k
… all the way to
200k+ (or whatever instrument volume you want)
Those thresholds map to a 12-band spectrum, ranging from the coldest low-volume purples to the hottest high-volume reds.
The result?
A visual system that lets you read volume pressure instantly, the same way our RSI 12-band spectrum lets you read momentum immediately.
🎨 Premium 12-Band Colour Spectrum
This indicator uses the same refined colour spectrum as the In The Zone RSI – 12 Band script:
Weak Volume (Bands 1–6) – Cold Side
Ultra-dark violet
Deep purples
Cool blues
Light icy blue
Strong Volume (Bands 7–12) – Hot Side
Warm yellows
Oranges
Orange-reds
Deep maroons
Ultra-dark red for max volume
You instantly know:
When volume is dying
When volume is building
When a trend is being pushed
When a breakout has REAL participation
When a reversal is weak or strong
Your brain doesn’t need to “interpret” numbers — just read the colours.
⚙️ Key Features
✔ 12 Custom Volume Thresholds
Set exact volume values that match your instrument.
A perfect companion for multi-indicator visual alignment.
✔ Borders-Only Mode
Keep your chart clean and still read volume strength.
✔ Adjustable Brightness & Opacity
Fine-tune the aesthetic for dark or light chart themes.
✔ Legend Placement Options
Display the volume band legend in any corner of the chart.
✔ Zero Lag – Zero Repaint
Everything is based on historical volume — no tricks.
🚀 Who It’s For
This tool is extremely powerful for:
Scalpers
Momentum traders
Orderflow readers
Breakout traders
Reversal hunters
Algo / quant-style chart readers
Anyone who trades with candle-flow awareness
If you rely on the “feel” of a chart, volume rhythm, or momentum pressure — this indicator becomes a cheat-code.
🎯 Practical Uses
Spot when large players enter a move
Filter weak vs strong pullbacks
Confirm breakout candles
See exhaustion before reversals
Separate noise from real interest
Pair with IZ RSI + price structure for elite scalp precision
⭐ Why Traders Love It
Because it's clear.
Instant.
And it treats volume as the truth, not something to smooth or average.
This is how scalpers and tape-readers naturally think — now in a visual form.
🔥 Final Line
12 Band Volume matched Candles turns raw volume into a crystal-clear language.
Once you see volume this way, you will never go back to traditional colouring again.
Hilly's 0010110 Reversal Scalping Strategy - 5 Min CandlesKey Features and Rationale:
Timeframe: Restricted to 5-minute candles as requested.
Pattern Integration: Includes single (Hammer, Shooting Star, Doji), two (Engulfing, Harami), and three-plus (Morning Star, Evening Star) candlestick patterns, plus reversal patterns based on RSI extremes.
VWAP Cross: Incorporates bullish (price crosses above VWAP) and bearish (price crosses below VWAP) signals, enhanced by trend context.
Volume Analysis: Uses a volume spike threshold to filter noise, with a simple day-start volume comparison for financial environment context.
Financial Environment: Approximates the day's sentiment using early-hour volume compared to current volume, adjusted by trend.
Aggregation: Scores each condition (e.g., 1 for basic patterns, 2 for strong patterns like Engulfing, 3 for three-candle patterns) and decides based on weighted consensus, with trendStrength as a tunable threshold.
Risky Approach: Minimal filtering and a low trendStrength (default 0.5) allow frequent signals, aligning with your $100-to-$200 goal, but expect higher risk.
Suggested Inputs:
EMA Length: 10 (short enough for 5-minute sensitivity).
VWAP Lookback: 1 (uses current session VWAP).
Volume Threshold Multiplier: 1.2 (moderate spike requirement).
RSI Length: 14 (standard, adjustable to 7 for more sensitivity).
Trend Strength Threshold: 0.5 (balance between signals; lower to 0.4 for more trades, raise to 0.6 for fewer).
HTF OHLC Candle + 50% @MaxMaseratiHTF OHLC Candle + 50% @MaxMaserati
This advanced multi-timeframe indicator displays higher timeframe OHLC data as visual candle boxes and extended key levels on lower timeframe charts, providing essential context for institutional trading decisions.
Core Functionality:
Multi-Timeframe Box Display:
Main Timeframe Box (Default H4): Shows complete higher timeframe candles as colored boxes with separate body and wick visualization, including bullish (green) and bearish (red) candle representation with customizable transparency levels.
Independent Box 2 (Default M15): Secondary timeframe display with lime/fuchsia color scheme, allowing traders to monitor intermediate timeframes simultaneously with different visual styling.
Independent Box 3 (Default H1): Third independent timeframe with blue/orange color scheme, providing additional context for multi-timeframe analysis and confluence identification.
OHLC Level Analysis:
Each timeframe box includes individual Open, High, Low, and Close level lines with customizable colors and visibility settings. These levels act as key support and resistance zones that institutional traders often respect.
50% Retracement Levels:
Automatic calculation and display of 50% levels between each timeframe's high and low, representing critical equilibrium zones where price often finds support or resistance during retracements.
Extended Line System:
Current Live Timeframe Extended Lines: Real-time extension of the forming candle's Open, High, Low, and 50% levels with customizable line weights and label positioning.
TF2 Extended Lines (Default H4): Previous completed candle's key levels extended forward, showing immediate higher timeframe reference points for current price action.
TF3 Extended Lines (Default Daily): Longer-term reference levels from daily or weekly timeframes, providing macro trend context and major institutional levels.
Key Features:
Smart Timeframe Detection: Only displays boxes for timeframes higher than the current chart timeframe, preventing redundant information and maintaining chart clarity.
Global Box Limit Control: Intelligent cleanup system that maintains optimal performance by limiting total displayed elements while preserving the most recent and relevant timeframe periods.
Comprehensive Customization: Full control over colors, transparency, line weights, label sizes, and visibility for each timeframe component, allowing personalized setups for different trading styles.
Label System: Automatic timeframe identification labels (H4, M15, D1, etc.) positioned on each box for instant timeframe recognition and clear multi-timeframe organization.
Current Candle Options: Optional display of forming/current candles for each timeframe, enabling real-time monitoring of developing price action and potential setup completion.
This indicator is essential for traders utilizing multi-timeframe analysis, institutional trading concepts, and higher timeframe confluence strategies, providing clear visual representation of key levels and candle structures that drive major market movements.
Volume-Based Candle ShadingThe Volume Shading indicator dynamically adjusts the color brightness of each price bar based on relative volume levels. It helps traders quickly identify whether a candle formed on low, average, or high volume without needing to reference a separate volume pane.
Candles are shaded dynamically as they form, so you can watch volume flow into them in real time. This indicator is designed to be as minimally intrusive as possible, allowing you to visualize volume levels without extra clutter on your charts.
The additional volume indicator in the preview above is there just for a point of reference to allow you to see how the shading on the bars correlates to the volume.
⸻
SETTINGS:
Bullish and bearish base colors — These serve as the midpoint (average volume) for shading.
Brightness mapping direction — Optionally invert the shading so that either high volume appears darker or lighter.
Volume smoothing length — Defines how many bars are averaged to determine what constitutes “normal” volume.
Candles with volume above average will appear darker or lighter depending on user preference, while those with average volume will be painted the chosen colors, giving an intuitive gradient that enhances volume awareness directly on the chart.
⸻
USES:
Confirming price action: Highlight when breakout candles or reversal bars occur with high relative volume, strengthening signal conviction.
Spotting low-volume moves: Identify candles that lack volume support, potentially signaling weak continuation or false breakouts.
Enhancing visual analysis: Overlay volume dynamics directly onto price bars, reducing screen clutter and aiding faster decision-making.
Custom visual workflows: Adapt the visual behavior of candles to your trading style by choosing color direction and base tones.
Next Candle PredictorNext Candle Predictor for TradingView
This Pine Script indicator helps predict potential price movements for the next candle based on historical price action patterns. It analyzes recent candles' characteristics including body size, wick length, and volume to calculate a directional bias.
Key Features
Analyzes recent price action to predict next candle direction (Bullish, Bearish, or Neutral)
Visual indicators include small directional arrows and a prediction line
Customizable sensitivity and lookback period
Works best on lower timeframes for short-term price action trading
Displays clear prediction labels that extend into future bars
How It Works
The script analyzes recent candles by examining:
Candle body size (weighted by your preference)
Wick length (weighted by your preference)
Volume activity (weighted by your preference)
These factors combine to create a directional strength indicator that determines if the next candle is likely to be bullish, bearish, or neutral.
Visual Feedback
Green up arrows indicate bullish predictions
Red down arrows indicate bearish predictions
A directional line extends from the last candle showing predicted price movement
A label displays the prediction text at the end of the line
Information table in the top right displays the current prediction
Settings
Lookback Candle Count: Number of historical candles to analyze (2-20)
Wick/Body/Volume Weight Factors: Adjust importance of each component
Prediction Sensitivity: Threshold for triggering directional bias
Prediction Line Length: How far the prediction line extends
Perfect for day traders and scalpers looking for an edge in short-term directional bias.
Profitable L 1800 Candle Highlight [Beta]
Certainly! Here's a user guide for the provided Pine Script code:
User Guide: 1800 Candle Highlight Indicator
Overview:
The "1800 Candle Highlight" indicator is designed to visually emphasize the 18:00 (6:00 PM) candle on the chart, providing clarity on its open and close prices, and highlighting its timeframe with a distinctive color.
Key Features:
Candle Highlighting: The indicator identifies the candle that opens at 18:00 and visually distinguishes it from other candles on the chart.
Open and Close Prices: The indicator plots the open and close prices of the 18:00 candle as step lines, making it easy to identify price movements during that timeframe.
Background Color: It colors the background within the 18:00 candle's timeframe with a transparent blue shade, providing further emphasis on that period.
Start Marker: A downward triangle shape marks the start of the 18:00 candle, aiding in identifying the beginning of the highlighted timeframe.
Usage:
Overlay: The indicator is designed to be overlaid on the price chart, allowing users to visualize the highlighted candle alongside price movements.
Interpretation: Traders can observe the open and close prices of the 18:00 candle relative to previous and subsequent candles, aiding in analysis and decision-making.
Timeframe Focus: The highlighted candle's timeframe can serve as a reference point for analyzing price action during specific hours, such as the end of a trading day.
Installation:
Access: Users can access the Pine Script editor within the TradingView platform to create a new indicator.
Copy and Paste: Copy the provided Pine Script code and paste it into the editor.
Save and Apply: Save the indicator and apply it to the desired chart, adjusting settings as needed.
Customization:
Color Scheme: Users can customize the colors used for highlighting, open/close prices, and background to suit their preferences and chart aesthetics.
Styling: Adjustments can be made to line styles, widths, and marker sizes to enhance visibility and clarity.
Compatibility:
The indicator is compatible with TradingView's Pine Script version 5 and can be applied to various financial instruments and timeframes supported by the platform.
Disclaimer:
The "1800 Candle Highlight" indicator is provided for informational purposes only and should not be considered as financial advice. Users are encouraged to conduct thorough analysis and consider multiple factors before making trading decisions.
Identify Rally, Base & Drop CandleThis Pine Script indicator identifies and labels rally, base, and drop candles on your chart, aiding traders in recognizing key price action phases. Rally candles represent periods of upward price momentum, typically characterized by strong bullish movement. Base candles indicate consolidation or sideways movement, suggesting a temporary pause in the trend. Drop candles signify downward price momentum, often accompanied by strong bearish movement. By identifying these distinct candle types, traders can gain insights into the market's current phase and potential future price movements.
Key Features:
Identifies rally, base, and drop candles based on customizable criteria such as body percentage.
Labels each candle type for easy visualization and interpretation.
Helps traders identify trend continuation or potential reversal points.
Compatible with various timeframes and trading instruments.
Customizable parameters allow traders to adjust the sensitivity of the identification process to suit their trading strategies.
Usage Instructions:
Apply the indicator to your chart.
Configure the settings according to your preferences
Observe the labeled candles on the chart to identify rally, base, and drop phases.
Consider additional analysis and risk management strategies to confirm trading decisions and manage risk effectively.
Disclaimer: This indicator is provided for informational and educational purposes only. It is not intended as financial advice or trading recommendations. Trading involves risks, and it's essential to conduct thorough research and practice proper risk management techniques.
Stochastic CandlesIn this indicator I have transformed the %K line into adjustable candles. Because of this I have increased the length of the %D line to be more useful in this context. It is worth noting that you get the same momentum indication as %D set to 4 just because of the default candle transform setting. Incase you need to brush up on how stoch works here is the built in summery.
The Stochastic Oscillator (STOCH) is a range bound momentum oscillator. The Stochastic indicator is designed to display the location of the close compared to the high/low range over a user defined number of periods. Typically, the Stochastic Oscillator is used for three things; Identifying overbought and oversold levels, spotting divergences and also identifying bull and bear set ups or signals.
3 or more consecutive candles
This indicator Colors in candles if there are 3 or more consecutive bearish or bullish candles.
If you are familiar with the BTMM/Stacey Burke Trading concept of expecting a stop hunt after 3 cycles of rise/fall this indicator may be useful to you.
I'm new to coding/making indicators so the code may not be as polished so please bare with me, I am in the process of learning :)
Eventually I'll make it so that you can edit the minimum and maximum number of candles needed for it to be colored, but it may take a long time lol.
EM_RSI Gradient Candles
I've missed the beautiful trend visualization of Heiken Ashi candles ever since I first learned they don't play well with other indicators largely due to the method with which they're plotted.
I wanted to color code a gradient onto candles to help visualize trend strength, and the Relative Strength Index was the first thing to come to mind. For coloring, it's possible the new color.from_gradient function would have worked, but I couldn't guarantee a highly customizable indicator with a single gradient so I took a more classic approach.
First, RSI was calculated using Tradingview's built-in RSI code.
Then I broke down the RSI's range of 1-100 into 10 tiers and assigned each a color option with the ability to turn any particular tier off if desired.
I found it to be extremely modular and helpful in visualizing both trend strength and identifying potential trend reversals due to a reduction in strength.
You can use it on every candle to help inform decisions, or keep all but <10 and >90 turned off so that it only changes candle color during the most extreme trends.
Or anything in between!
This is my first self-coded indicator so I'm already proud.
Please let me know what you think, and feel free to suggest improvements for future versions in the comments!
