Algorithmic Candle Finder {Darkoexe}

Algorithmic Candle Finder Indicator

Algorithmic candles are candles whose size and direction are significantly influenced by institutions or large players using market algorithms. These entities can move large amounts of capital in or out of the market, creating price moves that are often difficult for retail traders to predict or react to.

This can make short-term retail trading risky and inconsistent, especially when unaware of such institutional activity. The goal of this indicator is to help identify such candles, allowing traders to avoid trading during times of potential algorithmic influence.

Detection Criteria:
A candle is marked as algorithmic if either of the following conditions are met:

Size-Based Detection: If the current candle’s size exceeds the Average True Range (ATR) of the previous candle multiplied by the ATR factor input.

Volume-Based Detection: If the current candle’s volume exceeds the average volume of recent candles (e.g., last N candles) multiplied by the volume factor input.

When a candle is deemed algorithmic, a label saying "Algo!!!!!" will appear on the chart above the candle where the condition occurred.

Usage:
Use this indicator to study which times of day algorithmic candles frequently appear. This can help you adjust your strategy to avoid trading during these unpredictable moments.

Analogy:
Think of the market like the game Agar.io: small players (retail traders) collect small pellets to grow, while larger players (institutions) devour smaller ones. The small players must avoid the big ones to survive. Likewise, in trading, retail traders should aim to avoid high-impact algorithmic activity that could “consume” their trades.