OPEN-SOURCE SCRIPT
Simplified candlesticks
Simplified candlesticks tracks sticks for their body and wick
- For Long bars sticks ( LS ) tracks and marks them on down trend as continuation and reversal if moves appositive direction.
- For largest wicks on ends marks as regular Doji
- For large wicks and medium body marks as possible consolidation
- For only bottom bigger wick as bears weakness if trend down and possible reversal if trend is up.
- For only upper bigger wick as bulls weakness if trend up and possible reversal if trend is down
- For Long bars sticks ( LS ) tracks and marks them on down trend as continuation and reversal if moves appositive direction.
- For largest wicks on ends marks as regular Doji
- For large wicks and medium body marks as possible consolidation
- For only bottom bigger wick as bears weakness if trend down and possible reversal if trend is up.
- For only upper bigger wick as bulls weakness if trend up and possible reversal if trend is down
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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