HTF Candles & Reversals

This is a comprehensive multi-timeframe analysis tool designed to give you a broader perspective on market structure directly from your main chart. It overlays candles from up to six user-defined higher timeframes (HTF) and includes a built-in indicator to spot potential price reversals. This allows you to analyze the bigger picture and make more informed decisions without constantly switching between different chart layouts.

Key Features

Multi-Timeframe Candle Display: Renders candles from up to six different higher timeframes (the defaults are 5m, 15m, 1H, 4H, 1D, and 1W). You can see how the current price action fits within the larger trend.

Reversal Pattern Detection: The script identifies and highlights potential bullish and bearish reversal patterns. This works on both your main chart's candles and the displayed HTF candles, helping you spot potential shifts in momentum on multiple scales.

Imbalance (FVG) Highlighting: Automatically detects and draws Fair Value Gaps (FVGs) on the HTF candles, pointing out areas of inefficient price action that may act as magnets for future price movement.

Full Customization: You have complete control over the visual elements. Adjust the colors for candle bodies, borders, and wicks. Change the positioning of the HTF display, and toggle labels, timers, and imbalance boxes to create a clean workspace that fits your trading style.

How to Use This Indicator

Gain Market Context: Use the HTF candles to quickly gauge the dominant trend. For example, if the 4H and 1D candles are bullish, you might look for buying opportunities on your lower timeframe chart. The highs and lows of these HTF candles often serve as strong support and resistance levels.

Identify Reversals:

Triangles on the Main Chart: A green triangle below a candle suggests a potential bullish reversal, while a red triangle above suggests a potential bearish reversal. This pattern appears when a candle makes a new low/high but closes stronger/weaker than the previous one.

Colored HTF Candles: When an HTF candle is colored (lime for bullish, orange for bearish), it indicates that a reversal pattern has formed on that specific higher timeframe, which could signal a more significant change in market direction.

Utilize Imbalances: The highlighted FVG boxes can be treated as areas of interest. Price often revisits these zones, making them potential targets for trades or areas to watch for a reaction.

Settings Breakdown

Candle Color: Independently set the colors for bullish and bearish candle bodies, borders, and wicks.

Layout: Use the HTF Distance setting to control how far the displayed candles appear from the current price action.

Labels: Choose whether to display the timeframe name and a countdown timer for each HTF candle. You can position these labels at the top, bottom, or both.

Imbalances: Toggle the visibility of the FVG boxes and customize their color.

Reversal Indicator: Enable or disable the reversal triangles on your main chart and the special coloring for reversal candles on both the main chart and the HTF displays.

Disclaimer: This tool is intended for technical analysis and educational purposes. It does not provide financial advice or generate guaranteed trading signals. Always use risk management and conduct your own analysis before entering any trade.