Market Ghost

4일 전

Ghost Candles: Volume-Based Transparency Indicator

Before adding the indicator to the chart, hide the chart candles (the chart would get blank) otherwise no changes will be visible on your chart due to the display of the original candles (transparencies won't be visible because the full-opaque candles cover them)

This unique indicator dynamically adjusts the transparency of candles based on their volume relative to the past X candles. Candles with low volume become more transparent, while those with higher volume appear more opaque, creating a smooth gradient effect. This allows for a visual representation of market activity where low-volume candles "fade" into the background, making high-volume candles stand out more clearly.

1. Customizable Lookback Period: Adjust the lookback period (X candles) to suit your analysis.
   
2. Volume-Based Visualization: A smooth gradient of transparency helps to visualize volume strength relative to recent market activity.
   
3. Unique Aesthetic: Adds a unique, "ghostly" aesthetic to the chart, ideal for identifying volume trends without the clutter of traditional indicators.
   

This script is perfect for traders who want to visually highlight volume strength while maintaining a clean, easy-to-read chart.