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Boring with Ok Legin

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This TradingView Pine Script highlights “boring” candles that immediately follow a more moderately strong “legin” candle, using relaxed price action and supply/demand zone criteria.

A candle is highlighted if all these conditions are satisfied:
1. Boring Candle (Current Bar):
- The total wick size (upper + lower) is greater than its body size.
- The candle’s ATR (Average True Range) is greater than its TR (True Range), identifying it as “boring” (constricted movement).

2. OK Legin Candle (Previous Bar):
- The previous candle’s TR is at least 1.5× the current candle’s TR, or its size (high-low) is at least 1.5× the size of the current boring candle (shows moderate expansion).
- The previous candle’s body is at least 45% of its full size (not just all wick).
- The previous candle has a wick on its closing side (indicating some price rejection).

3. No Visual Gap Rule:
- There is no significant gap between the previous legin’s close and the current boring candle’s open.

The allowed gap is adaptive:
Usually 7% of the legin’s body size,
but always at least 0.1×ATR and never more than 2×ATR,
ensuring visual continuity no matter the size of the legin candle.

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.