Impulsive Candle Detector - Prof Michael G

2024년 7월 22일

Determining an impulsive candle can be systematic rather than discretionary. This indicator defines an impulsive candle using the following criteria:

1. Candle Size Relative to Recent Candles
Relative Size: An impulsive candle is one that is significantly larger than the recent average candle size. For example, if a candle’s range (high-low) is greater than 150% of the average range of the last 10 candles, it can be considered impulsive.

2. Volume Confirmation
High Volume: An impulsive candle is often accompanied by higher than average volume. You can define an impulsive candle if its volume is greater than 150% of the average volume over the last 10 candles.

3. Body-to-Wick Ratio
Body vs. Wick: A candle with a large body and small wicks can indicate strong momentum. You can define an impulsive candle if the body of the candle is greater than 70% of the total range (high-low).

These settings are also customisable to your own desired settings.

Credit: GreatestUsername for the coding & implementation.

2024년 8월 13일

릴리즈 노트

added alert function

2024년 8월 13일

릴리즈 노트

fix

6월 25일

릴리즈 노트

Determining an impulsive candle can be systematic rather than discretionary. This indicator defines an impulsive candle using the following criteria:

1. Candle Size Relative to Recent Candles
Relative Size: An impulsive candle is one that is significantly larger than the recent average candle size. For example, if a candle’s range (high-low) is greater than 150% of the average range of the last 10 candles, it can be considered impulsive.

2. Volume Confirmation
High Volume: An impulsive candle is often accompanied by higher than average volume. You can define an impulsive candle if its volume is greater than 150% of the average volume over the last 10 candles.

3. Body-to-Wick Ratio
Body vs. Wick: A candle with a large body and small wicks can indicate strong momentum. You can define an impulsive candle if the body of the candle is greater than 70% of the total range (high-low).

These settings are also customisable to your own desired settings.

Credit: GreatestUsername for the coding & implementation.