TechniTrend: Advance Custom Candle Finder (CCF)

5 saat önce

🟦Description:
The TechniTrend: Advanced Custom Candle Finder (CCF) is a versatile tool designed to help traders identify custom candlestick patterns using various configurable criteria. This indicator provides a flexible framework to filter and highlight specific candles based on volume, volatility, candle characteristics, and other important metrics. Below is a detailed explanation of each filter and its customization options:

🟦Volume-Based Filters
🔸Volume Spike Filter:
Enable filtering based on volume spikes. Use the Volume Spike Multiplier to define what constitutes a significant increase in volume compared to the average. A spike indicates unusually high trading interest.
🔸Volume Range Filter:
Filter candles based on specific volume ranges. Set Minimum Volume and Maximum Volume thresholds to isolate candles with trading volumes within your desired boundaries.

🟦Candle Body & Wick Filters
🔸Body Size Filter:
Filter candles based on the size of their body. A Body Size Multiplier determines what is considered a large body relative to historical averages.
🔸Body Percentage Filter:
Filter based on the proportion of the body to the entire candle size. Use the Body Percentage Threshold to highlight candles where the body makes up a certain percentage of the total candle range.
🔸Wick-to-Body Ratio Filter:
Identify candles with specific wick-to-body ratios. A higher Wick-to-Body Ratio can indicate indecision or reversals.

🟦Volatility & Range Filters
🔸Volatility Filter:
Highlight candles based on price changes relative to volume. The Volatility Multiplier sets the threshold for what is considered a volatile candle.
🔸Candle Range Filter:
Filter based on the range (High - Low) of each candle. Use Minimum Candle Range and Maximum Candle Range to specify your desired candle size in points or pips.
🔸Short-Term and Long-Term Volatility Filters:
Analyze volatility over different periods. Enable Short-Term Volatility or Long-Term Volatility filters to compare recent volatility against historical averages, helping you detect sudden market shifts.

🟦Candle Color & Open/Close Filters
🔸Candle Color Filter:
Filter based on the candle's color. Choose between Bullish (close > open) or Bearish (close < open) to focus on specific market sentiments.
🔸Open/Close Price Range Filter:
Filter based on the difference between the open and close prices. Use Minimum Open/Close Range and Maximum Open/Close Range to specify your acceptable range in price movements.

🟦Core Functionality
The CCF indicator combines these filters to provide a final signal whenever a candle meets all the enabled criteria. By default, it highlights any qualifying candle directly on the chart and changes the background color for added visibility.

🟦Key Features:
🔸Highly Customizable Filters: Adjust the parameters for each filter to tailor the indicator to your specific needs.
🔸Multiple Conditions: Combine several conditions to identify complex candlestick patterns.
🔸Real-Time Alerts: Receive instant notifications when a matching candle pattern is found based on your custom criteria.

🟦How to Use:
🔸Enable the filters you wish to apply (e.g., Volume Spike, Candle Body Size, Volatility).
🔸Adjust the thresholds for each filter to fine-tune the pattern recognition criteria.
🔸Observe the chart to see visual cues for candles that match your specified conditions.

🟦Notes:
🔸Ensure that you clearly understand each filter’s role. Over-filtering with very strict criteria may reduce the number of signals.
🔸This indicator is designed to be a customizable tool, not providing buy or sell recommendations.
🔸Use in combination with other analysis tools and indicators for the best results.