OPEN-SOURCE SCRIPT

Normalized Candlesticks (Stochastic Candles)

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The original script was posted on ProRealCode by user Nicolas.

This indicator is a normalized price representation made with candlesticks. The dynamic scale between 0 and 100% is calculated upon the last X periods (50 periods in the code, you can change it at will). It can be used to detect price exhaustion in a trend of continuation if the candlesticks remains above the 50% level.

Another utility is the use of the different levels that could be changed to Fibonacci levels for examples (23.6% 38.2% etc.) and detect rebounds of breakout of these levels.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.