PROTECTED SOURCE SCRIPT
CRT Indicator
Candle Range Trading (CRT) Indicator
The CRT Indicator identifies potential trading opportunities by analyzing specific candlestick patterns. This script is designed to detect both bullish and bearish CRT patterns and provides visual cues directly on your chart.
Features:
Pattern Detection:
How It Works:
Bearish CRT Pattern:
The script identifies a bearish CRT when:
Bullish CRT Pattern:
The script identifies a bullish CRT when:
Visual Signals:
How to Use:
Settings:
This indicator operates with default settings for detecting CRT patterns and does not include customizable parameters.
Limitations:
Note: The CRT Indicator is for informational purposes only and should be used in conjunction with other forms of analysis and proper risk management. Always test any strategy thoroughly before applying it to live trading.
The CRT Indicator identifies potential trading opportunities by analyzing specific candlestick patterns. This script is designed to detect both bullish and bearish CRT patterns and provides visual cues directly on your chart.
Features:
Pattern Detection:
- Analyzes two consecutive candles to identify the CRT pattern.
- Detects both bullish and bearish setups based on the relative positions of the candles.
How It Works:
Bearish CRT Pattern:
The script identifies a bearish CRT when:
- The first candle is bullish (closing price is higher than the opening price).
- The second candle is bearish (closing price is lower than the opening price).
- The second candle’s high exceeds the high of the first candle.
- The closing price of the second candle falls within the range of the first candle.
Bullish CRT Pattern:
The script identifies a bullish CRT when:
- The first candle is bearish (closing price is lower than the opening price).
- The second candle is bullish (closing price is higher than the opening price).
- The second candle’s low is below the low of the first candle.
- The closing price of the second candle falls within the range of the first candle.
Visual Signals:
- A red triangle is plotted above the candles for a bearish CRT pattern.
- A green triangle is plotted below the candles for a bullish CRT pattern.
How to Use:
- Monitor the chart for the appearance of red and green triangles.
- Green triangles suggest potential bullish movements.
- Red triangles suggest potential bearish movements.
- Use these signals as part of a comprehensive trading strategy and combine with other technical indicators for best results.
Settings:
This indicator operates with default settings for detecting CRT patterns and does not include customizable parameters.
Limitations:
- The CRT Indicator is based on two consecutive candles and does not account for broader market trends or other indicators.
- Be aware that false signals may occur in volatile or choppy market conditions.
- The indicator does not provide entry points, profit targets, or stop loss levels, which should be managed based on individual risk tolerance and strategy.
Note: The CRT Indicator is for informational purposes only and should be used in conjunction with other forms of analysis and proper risk management. Always test any strategy thoroughly before applying it to live trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.