Average Candle RangeThis indicator calculates and displays the average trading range of candles over a specified period, helping traders identify volatility patterns and potential trading opportunities.
Features:
- Customizable lookback period (1-500 bars)
- Clean visual display in a top-right table overlay
- High-precision calculation showing 10 decimal places
- Real-time updates with each new bar
How it Works:
The indicator calculates the range of each candle (High - Low) and then computes the Simple Moving Average (SMA) of these ranges over your specified lookback period. The result is displayed in an easy-to-read table overlay.
Use Cases:
- Volatility Analysis: Monitor market volatility trends
- Position Sizing: Help determine position sizes based on average price movements
- Trading Strategy Development: Use as a reference for setting stop losses and take profits
- Market Phase Identification: Help identify high vs low volatility market phases
Settings:
- Lookback Period: Default is 140 bars, adjustable from 1 to 500
Note:
The indicator displays values with 10 decimal places for high-precision analysis, particularly useful in markets with small price movements.
Wtasad
Abnormal Candle DetectorAbnormal Candle Detector
The Abnormal Candle Detector identifies sudden and unusual price movements by comparing the current candle's size and volume to recent averages. It highlights candles that deviate significantly from normal market behavior, helping traders spot breakouts, reversals, or high-impact events.
Features:
1. Abnormal Size Detection: Flags candles where the range (high-low) exceeds a user-defined multiplier of the average range.
2. Volume Confirmation: Optionally ensures abnormal movements are backed by higher-than-average volume.
3. Visual Markers:
Green triangles for bullish abnormal candles.
Red triangles for bearish abnormal candles.
Background highlights for better visibility.
4. Alerts: Real-time notifications when abnormal candles are detected.
Why Use It?
Spot early breakouts or trend reversals.
Identify high-impact events driven by news or institutional activity.
Filter noise and focus on significant market movements.
Customizable for any market or timeframe, the Abnormal Candle Detector is perfect for traders who want to stay ahead of major price action.
