This script identifies the 2 different Candle States for use in #TheStrat.
Candle Up - The close of the current candle is greater than the close of the previous candle. Candle Down - The close of the current candle is less than the close of the previous candle.
Though this script is extremely simple it is a teaching aid for #TheStrat. The script also assists in the identification of up and down candles with gaps where the color of candle will not always match the Candle State.
Analysis of the candle types can help you define actionable signals and draw broadening formations.
Disclaimer: All scripts from this account are for informational purposes only and do not produce buy or sell recommendations.
Actually this script identifies 4 different Candle States.
A Candle has only four fundamental states from a previous candle:
NOT Up OR NOT Down
Up
Down
Up AND Candle Down
This can be optimized to simply displaying an UP or DOWN state on a display with the other two states being implied from the drawn symbol.
micarranco
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Amazing job, thanks and congrats Mate!
farzin660
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A weird thing is happening where I'll change the settings for this indicator on my computer and save the settings, but when i load the app it does the complete opposite of the settings I just changed. Not sure if this a bug or something but I've tried everything and cant seem to find a resolution.
A Candle has only four fundamental states from a previous candle:
NOT Up OR NOT Down
Up
Down
Up AND Candle Down
This can be optimized to simply displaying an UP or DOWN state on a display with the other two states being implied from the drawn symbol.