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업데이트됨 Master Candle
Master Candle
Definition
A master candle can only exist when 4 consecutive candles after it consolidate within the candle’s range (high and low). Basically, a master candle should engulf the 4 following candles
Common Belief
Literature suggests it be used as a breakout strategy. When a master candle is formed, they assume the 5th,6th or 7th candle are the candidates for a potential breakout.
If the there is no breakout after the 7th candle, the master candle should be disregarded. There are many scenarios where it does work, but just as many when they don’t.
Interpretation
The idea of the master candle does hold some significance, but I see the break of the master candle as a sign of a potential continuation, retracement, or reversal.
The indicator
I have kept the original theory as default (minimum criteria which is MC=C1234+B123) but have allowed the option to edit the parameters.
Another option I’ve added is to allow wicks to breach the Master Candle as long as they open and close within its range. The only time the range is broken (5th candle onwards) is when a candle body closes above or below the master candle range.
Since I did not want to define the break as a breakout, I’ve named it a ‘Swish’. So, it’s either a Swish High or a Swish Low. Traders should make their own judgement on the intended direction based on their own analysis. A retracement entry into the intended direction is all I can advise.
Examples:
Definition
A master candle can only exist when 4 consecutive candles after it consolidate within the candle’s range (high and low). Basically, a master candle should engulf the 4 following candles
Common Belief
Literature suggests it be used as a breakout strategy. When a master candle is formed, they assume the 5th,6th or 7th candle are the candidates for a potential breakout.
If the there is no breakout after the 7th candle, the master candle should be disregarded. There are many scenarios where it does work, but just as many when they don’t.
Interpretation
The idea of the master candle does hold some significance, but I see the break of the master candle as a sign of a potential continuation, retracement, or reversal.
The indicator
I have kept the original theory as default (minimum criteria which is MC=C1234+B123) but have allowed the option to edit the parameters.
Another option I’ve added is to allow wicks to breach the Master Candle as long as they open and close within its range. The only time the range is broken (5th candle onwards) is when a candle body closes above or below the master candle range.
Since I did not want to define the break as a breakout, I’ve named it a ‘Swish’. So, it’s either a Swish High or a Swish Low. Traders should make their own judgement on the intended direction based on their own analysis. A retracement entry into the intended direction is all I can advise.
Examples:
릴리즈 노트
C Max and B Max input ranges unlocked보호된 스크립트입니다
이 스크립트는 비공개 소스로 게시됩니다. 하지만 제한 없이 자유롭게 사용할 수 있습니다 — 여기에서 자세히 알아보기.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.