OPEN-SOURCE SCRIPT
Big Candle Highlighter
Updated
Big Candle Highlighter
The Big Candle Highlighter indicator highlights significant candles based on their percentage difference between the open and close prices. This tool helps traders quickly identify candles with substantial price movements, which can be crucial for spotting key price action, potential reversals, or significant market events.
Key Features:
Percentage Threshold: Customize the minimum percentage difference from open to close required to mark a candle as "big."
Bullish and Bearish Markers: Bullish big candles are marked with a label below the bar in green, while bearish big candles are marked with a label above the bar in red.
Background Highlighting: Optionally highlight the background of big candles for better visual emphasis.
Inputs:
Percentage Threshold (%): Set the percentage threshold to define what constitutes a "big" candle. For example, a threshold of 2.0 means that only candles with a 2% or more difference between open and close will be marked.
Color for Big Bullish Candle: Choose the color for labeling and highlighting bullish big candles.
Color for Big Bearish Candle: Choose the color for labeling and highlighting bearish big candles.
Usage:
This indicator is useful for traders looking to identify significant price movements and potential trading opportunities. By focusing on candles that show substantial changes from open to close, you can better understand market dynamics and make more informed trading decisions.
Add the Big Candle Marker to your charts to enhance your technical analysis and stay ahead of market trends.
The Big Candle Highlighter indicator highlights significant candles based on their percentage difference between the open and close prices. This tool helps traders quickly identify candles with substantial price movements, which can be crucial for spotting key price action, potential reversals, or significant market events.
Key Features:
Percentage Threshold: Customize the minimum percentage difference from open to close required to mark a candle as "big."
Bullish and Bearish Markers: Bullish big candles are marked with a label below the bar in green, while bearish big candles are marked with a label above the bar in red.
Background Highlighting: Optionally highlight the background of big candles for better visual emphasis.
Inputs:
Percentage Threshold (%): Set the percentage threshold to define what constitutes a "big" candle. For example, a threshold of 2.0 means that only candles with a 2% or more difference between open and close will be marked.
Color for Big Bullish Candle: Choose the color for labeling and highlighting bullish big candles.
Color for Big Bearish Candle: Choose the color for labeling and highlighting bearish big candles.
Usage:
This indicator is useful for traders looking to identify significant price movements and potential trading opportunities. By focusing on candles that show substantial changes from open to close, you can better understand market dynamics and make more informed trading decisions.
Add the Big Candle Marker to your charts to enhance your technical analysis and stay ahead of market trends.
Release Notes
Big Candle Highlighter (Upgraded Version)This TradingView indicator highlights candles on your chart that meet a specific size threshold, helping you easily identify significant market moves.
Key Features:
Customizable Threshold: Define the minimum percentage difference for a candle to be considered "big," ensuring the indicator suits your trading strategy.
Range Precision: Choose between using the Open-Close range or the High-Low range to determine the size of a candle, providing flexibility in how you define "big" candles.
Visual Alerts: The indicator marks large bullish candles with a green label and large bearish candles with a red label, both of which are customisable.
Background Highlighting: Optionally, highlight the background of big candles to make them stand out even more on your chart.
This upgraded version builds upon the original by adding the precision to select the method for calculating candle size, making it a more versatile tool for traders who need to spot significant candles based on different criteria.
Release Notes
The Big Candle Highlighter is a versatile TradingView indicator designed to help traders quickly identify significant candles based on customizable size thresholds. With this upgraded version, users can choose between four different methods to calculate the candle size, providing precision and flexibility tailored to various trading strategies.Key Features:
Percentage Threshold: Define the minimum percentage difference required to classify a candle as "big." The threshold is calculated relative to the candle's open price, ensuring consistency across different market conditions.
Candle Size Calculation Methods: Choose from four methods to calculate the candle size:
Open-Close (Default): Measures the difference between the opening and closing prices.
High-Low: Captures the full range of the candle, from the highest to the lowest price.
Open-High: Measures the distance from the opening price to the high.
Open-Low: Measures the distance from the opening price to the low.
Visual Highlights:
Bullish Candles: Big bullish candles are marked with an upward label and optionally highlighted with a green background.
Bearish Candles: Big bearish candles are marked with a downward label and optionally highlighted with a red background.
This indicator is ideal for traders who want to quickly spot large market movements, enabling them to act on potential opportunities or adjust their strategies accordingly. The added flexibility in choosing how the candle size is calculated makes it adaptable to various trading styles, whether you're focusing on momentum, volatility, or specific price action patterns.
Release Notes
The Big Candle Highlighter is a versatile TradingView indicator designed to help traders quickly identify significant candles based on customizable size thresholds. With this upgraded version, users can choose between four different methods to calculate the candle size, providing precision and flexibility tailored to various trading strategies.Key Features:
Percentage Threshold: Define the minimum percentage difference required to classify a candle as "big." The threshold is calculated relative to the candle's open price, ensuring consistency across different market conditions.
Candle Size Calculation Methods: Choose from four methods to calculate the candle size:
Open-Close (Default): Measures the difference between the opening and closing prices.
High-Low: Captures the full range of the candle, from the highest to the lowest price.
Open-High: Measures the distance from the opening price to the high.
Open-Low: Measures the distance from the opening price to the low.
Visual Highlights:
Bullish Candles: Big bullish candles are marked with an upward label and optionally highlighted with a green background.
Bearish Candles: Big bearish candles are marked with a downward label and optionally highlighted with a red background.
This indicator is ideal for traders who want to quickly spot large market movements, enabling them to act on potential opportunities or adjust their strategies accordingly. The added flexibility in choosing how the candle size is calculated makes it adaptable to various trading styles, whether you're focusing on momentum, volatility, or specific price action patterns.
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.
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.