[PX] MTF Candle Sentiment

26 авг. 2019 г.

This indicator calculates the candlestick sentiment for the selected timeframe. The calculation consists of two steps:

• Step 1: Positioning of the closing price:
  Upper Third = High Close
  Mid Third = Mid Close
  Lower Third = Low Close
  
• Step 2: Positioning of the closing price in comparison to its previous candle:
  Close above the high of the previous candle = Bull candle
  Close within the range of the previous candle = Range candle
  Close below the low of the previous candle = Bear candle
  

Those two steps create 9 possible scores, which will determine the color of the graph.

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pascal-simon.de
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