OPEN-SOURCE SCRIPT
mentfx Triple M
This indicator colors the wick of a candle on any timeframe based on whether the following rules are met:
A colored wick below a candle indicates that the candles low was lower than the previous candles low, and the body of the candle closed above the previous candles low.
A colored wick above a candle indicates that the candles high was higher than the previous candles high, and the body of the candle closed below the previous candles high.
The idea behind this indicator is to fractally see a distribution (colored wick above a candle) or an accumulation (colored wick below a candle) as a confirmation once you have established a directional trend or turning point. This indicator will color any wick that meets these conditions. This indicator is meant more so as an entry confirmation, coupling it with your understanding of turning points, or likely points that price will continue in a direction - this can provide a nice confirmation.
A colored wick below a candle indicates that the candles low was lower than the previous candles low, and the body of the candle closed above the previous candles low.
A colored wick above a candle indicates that the candles high was higher than the previous candles high, and the body of the candle closed below the previous candles high.
The idea behind this indicator is to fractally see a distribution (colored wick above a candle) or an accumulation (colored wick below a candle) as a confirmation once you have established a directional trend or turning point. This indicator will color any wick that meets these conditions. This indicator is meant more so as an entry confirmation, coupling it with your understanding of turning points, or likely points that price will continue in a direction - this can provide a nice confirmation.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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