Intra_Candle_Welding by Chaitu50c

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Intra Candle Welding by Chaitu50c


This is a professional price action–based indicator designed to automatically detect and visualize *intra-candle reversal zones* using simple yet powerful logic. It highlights price levels where two consecutive opposite candles meet with a high probability of short-term market reaction.

Concept
The indicator identifies potential intraday support and resistance levels based on the "Intra Candle Welding" concept: when the close of one candle is very close to the open of the next candle, and the two candles have opposite directions (bullish followed by bearish, or bearish followed by bullish). These levels often attract market attention due to order flow imbalance created during such transitions.

How It Works

1. The indicator continuously monitors each new candle and checks if the current open is approximately equal to the previous close, within a configurable buffer.
2. It further ensures that the two candles form an opposite pair (green→red or red→green).
3. When a valid pair is detected, the indicator checks for existing active lines near this level. If no active line exists within the defined tolerance, it draws a new horizontal line at the detected level.
4. Each line is classified as either a potential resistance (from green→red pair) or support (from red→green pair).
5. Lines automatically extend rightward and update with each bar. If price breaks through the line beyond a configurable break buffer, the line stops extending and is visually marked as "broken."
6. The indicator intelligently manages the maximum number of lines on the chart by deleting the oldest ones when the limit is exceeded.

Use Case
Traders can use this tool to identify short-term reaction zones and potential intraday turning points. The highlighted levels act as temporary support and resistance areas where price frequently reacts. It is especially useful in fast-moving or volatile markets such as index futures or liquid stocks.

Features

* Automatically detects intra-candle reversal zones.
* Classifies zones as support (bottom) or resistance (top).
* Automatically updates and breaks lines when invalidated by price action.
* Adjustable parameters for flexibility:

* Equality Buffer
* Max Lines to Keep
* Line Suppression Tolerance
* Initial Extend Bars
* Break Buffer
* Line colors, widths, and styles (active and broken states)
* Efficient memory handling with capped line count.
* Minimalist and clean visual representation, suitable for overlay on any chart.

Recommended Settings

* Works best on intraday timeframes (1 min to 15 min).
* Tune the Equality Buffer and Tolerance parameters based on instrument volatility.
* Use conservative Break Buffer to avoid premature line invalidation.

Disclaimer
This is a tool to support discretionary trading decisions. It is not a standalone buy/sell signal generator. Users are advised to combine it with their own market context and risk management framework.

This indicator is released for the TradingView community for educational and practical trading use.

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Sürüm Notları

Update:11-06-2025.
This update introduces reactive line detection and styling. When a new line is about to be created, the indicator checks whether there is any nearby inactive line within a configurable reactive buffer. If such an inactive line exists, the new line is treated as reactive and is drawn with a separate color and adjustable line width.

This behavior allows traders to easily identify whether price is reacting to a previously broken level (reactive line) or forming a completely new level (normal active line). It enhances the clarity of price interaction with historical zones and supports more informed trading decisions.

New adjustable settings:

Reactive Buffer (Pts): proximity range to detect inactive lines.

Reactive Line Color: visual color for reactive lines.

Reactive Line Width: thickness for reactive lines.