AstroTrading_TriBeta

3 gün önce

Candle Definitions
First Candle (Bar 2):

firstLow and firstHigh capture the low and high of the candle two bars ago.
Second Candle (Bar 1):

secondClose, secondHigh, and secondLow refer to the close, high, and low of the candle one bar ago.
Third Candle (Current Bar):

thirdLow and thirdHigh represent the low and high of the current candle.
Setup Conditions
The indicator evaluates two distinct scenarios—one for a potential short setup and another for a long setup:

Short Setup (Bearish Reversal):
Condition 1:

The second candle’s close is greater than the high of the candle before it (i.e. the first candle’s high).
This suggests that the second candle broke above the prior candle’s range.
Condition 2:

The current (third) candle’s low is below the first candle’s low.
This indicates that after the upward move of the second candle, the price reverses sharply downward.
Trigger:
When both conditions are met, a short signal is generated. A red label with a downward arrow (“⬇️⬇️SHORT Kovala⬇️⬇️”) is plotted above the current bar at its low level.
Long Setup (Bullish Reversal):
Condition 1:

The second candle’s close is lower than the low of the candle before it (i.e. the first candle’s low).
This means the second candle closed lower than the previous candle’s low.
Condition 2:

The current (third) candle’s high exceeds the first candle’s high.
This suggests that following the downward move, the price reverses upward significantly.
Trigger:
When these conditions are satisfied, a long signal is generated. A green label with an upward arrow (“⬆️⬆️LONG Kovala⬆️⬆️”) is plotted below the current bar at its high level.
Visual Marking
plotshape Function:
The script uses plotshape() to display the signal labels on the chart:
For a short trigger, the label is shown above the bar (at the candle’s low) in red.
For a long trigger, the label is shown below the bar (at the candle’s high) in green.
Summary
The indicator is intended to capture a reversal pattern in which:

For a short setup, an aggressive upward move (second candle closing above the previous high) is quickly reversed by a drop below the earlier low.
For a long setup, a downward move (second candle closing below the previous low) is followed by a rebound above the previous high.
Traders can use these signals as potential triggers to enter short or long positions, based on the idea that a failed continuation of the prevailing move may lead to a reversal.

This explanation provides a clear, step-by-step breakdown of the “AstroTrading_TriBeta” indicator's logic and visual output, adhering to TradingView's standards for clarity and detail.

3 gün önce

Sürüm Notları

Candle Definitions
First Candle (Bar 2):

firstLow and firstHigh capture the low and high of the candle two bars ago.
Second Candle (Bar 1):

secondClose, secondHigh, and secondLow refer to the close, high, and low of the candle one bar ago.
Third Candle (Current Bar):

thirdLow and thirdHigh represent the low and high of the current candle.
Setup Conditions
The indicator evaluates two distinct scenarios—one for a potential short setup and another for a long setup:

Short Setup (Bearish Reversal):
Condition 1:

The second candle’s close is greater than the high of the candle before it (i.e. the first candle’s high).
This suggests that the second candle broke above the prior candle’s range.
Condition 2:

The current (third) candle’s low is below the first candle’s low.
This indicates that after the upward move of the second candle, the price reverses sharply downward.
Trigger:
When both conditions are met, a short signal is generated. A red label with a downward arrow (“⬇️⬇️SHORT Kovala⬇️⬇️”) is plotted above the current bar at its low level.
Long Setup (Bullish Reversal):
Condition 1:

The second candle’s close is lower than the low of the candle before it (i.e. the first candle’s low).
This means the second candle closed lower than the previous candle’s low.
Condition 2:

The current (third) candle’s high exceeds the first candle’s high.
This suggests that following the downward move, the price reverses upward significantly.
Trigger:
When these conditions are satisfied, a long signal is generated. A green label with an upward arrow (“⬆️⬆️LONG Kovala⬆️⬆️”) is plotted below the current bar at its high level.
Visual Marking
plotshape Function:
The script uses plotshape() to display the signal labels on the chart:
For a short trigger, the label is shown above the bar (at the candle’s low) in red.
For a long trigger, the label is shown below the bar (at the candle’s high) in green.
Summary
The indicator is intended to capture a reversal pattern in which:

For a short setup, an aggressive upward move (second candle closing above the previous high) is quickly reversed by a drop below the earlier low.
For a long setup, a downward move (second candle closing below the previous low) is followed by a rebound above the previous high.
Traders can use these signals as potential triggers to enter short or long positions, based on the idea that a failed continuation of the prevailing move may lead to a reversal.

This explanation provides a clear, step-by-step breakdown of the “AstroTrading_TriBeta” indicator's logic and visual output, adhering to TradingView's standards for clarity and detail.