Body/Wick to Range Osc.

SolCollector Pro+ Mis à jour   
This script is meant to be a form of pure candlestick analysis.

Terminology in the description used below is as follows:
- numcands = Number of candles specified by the user to be used for sampling in each moving average.

This script plots moving average ( SMA / EMA specified by the user ) of the percentage of the high-low range that the previous {numcands} candles the upper wicks, lower wicks, and the body take up.

The user may specify if the absolute value of the body percentage is to be used (true by default). To account for this, a horizontal line is also plotted at 0 to show when the body percentage moves above or below 0.

The values that all of these moving averages plotted will oscillate between 0 and 1 (-1 and 1 for the body percentage if the absolute value of candles is not used).

Other notes: The user may select the colors used (colorblind support, as the defaults are red and green). Cross overs and cross unders are accounted for in alertconditions (as is if the body % moves above and below 0% if absolute values are not used).

An interpretation of the use of this script may be: If the upper wicks begin to take up a larger portion of the high-low range, it may signal downward selling pressure (and vise-versa for lower wicks). However, this may be open to interpretation based upon the specified {numcands} used.
Notes de version: Added a histogram that plots the difference between the Upperwick and Lowerwick moving averages.

Absolute body value and body values are now plotted together, and switches may be flipped for all plots to turn them on/off.

The histogram features color scheming based upon prior values.

Other notes: Code reduction with a helper function to grab the moving averages also added. Renaming of some variables/inputs. Comment polishing.
Notes de version: More comment polishing.
Notes de version: Clean Chart update
Notes de version: Clean chart update (attempt 2?)
Notes de version: House-Rules update

Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

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