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Trade_by_DB
12. Aug. 2022 07:53

Candle Strength 

Euro Fx/U.S. DollarFXCM

Beschreibung

It is hard to know which party plays a vital role in the candle. Sometimes we see a red candle/ Seller's candle very weak, but still, the market continues. Here, I tried to figure out how much strength buyers/sellers possess in their respective candles.

The idea is simply to measure the area between high and low and then calculate the opposite party's oppression by calculating the wick's area.

This script is more like a tool, and hence I do not suggest using this as an independent strategy. However, combining it with other analyses and strategies will surely bear fruitful results.
I, in the future, will come up with strategies and more tools like this.

So, follow me to keep getting updates.
Thanks.
Kommentare
tazi2010
Thank you for the great work!
alhrbashb
Hello, I would like to make the percentage target only for the first trading candle only
onlinetoriches
Can you make alert %Strength setting. Example if bull >90% and bear >90%
kishanhadiyal
thanks sir.. its very good indicator
Danfx2020
Looks good mate I will try it on futures
kutti2020
Nice one bro!!!
Trade_by_DB
@kutti2020, Thanks, means a lot!!!
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