Shaved Candle Identifier

27 Mar

This script is different because it actually highlights the candle and is not just an icon. It will identify bars that have no wick. Each color represents a different type of candle.

Shaved candles represent major liquidity zones, and tend to get swept in the future.

Shaved candles are useful for spotting reversals and as price targets.

• Green is when open = low
  
• Red is when open = high
  
• Blue is when close = high
  
• Orange is when close = low
  

There is 0 tolerance for any deviation, if the price is 0.001 off, it will not be identified. Only absolutely shaved candles will be identified.

20 May

Sürüm Notları

This script is different because it actually highlights the candle and is not just an icon. It will identify bars that have no wick, or you can set a threshold for how large you want the wick to be, this is measured in ticks.

Shaved candles represent major liquidity zones, and tend to get swept in the future, especially when they are on a higher time frame.

Shaved candles are useful for spotting reversals and as price targets.
Green is when open = low
Red is when open = high

The user may define a tolerance for the wick size defined in tick size.

--Patch notes--

1. Added a threshold that the user can define.
2. Removed shaved closes.