Single Candle Entry with Multi-Timeframe [Wang Indicators]

3 janv.

Single candle entry

Overview : The "Single Candle Entry Model" indicator is designed to help traders through a simple yet effective trading strategy. This indicator automatically detects candles that encompass both the high and low of the previous candle, creating key price zones for potential market entries.

- This indicator was developed with the help of @DaveTeaches -

How does it works ?

• Detects when a candle trade above the high and below the low of the previous candle
  
• When it occur, the indicator write "SCE" on the candle
  
• The text will be in different color if its bearish or bullish (customizable by user)
  

Higher Timeframes

• Users can enable up to 3 HTF SCE detection to enhance multi timeframe analysis.
  
• Users can select which timeframe he want to use
  
• Boxes will be displayed around High time frame SCE to highlight the HTF candle.
  
• As regular SCE, the indicator will write "SCE" above or under the box
  

How does it helps users ?

• Once the SCE is created, it can be used as a zone.
  
• Levels (30, 50 and 70%) are displayed
  
• Users can customize their apparence as they see fit
  
• The 30 - 50 - 70 levels are support/resistance that the price tend to bounce of off
  
• You might find some success looking for an entry inside the zone at a level if price gives further confirmations such as a lower time frame flip or using other indicators
  
• Alert can be setup on any timeframe
  

3 janv.

Notes de version

Chart update