Here is the candlestick normalizer I was trying to achieve. In this way you can do a fast and not biased by price candlestick analysis, for example to catch engulfish and doji's on the go ;) I also added a MAs crossing-over signal I optimized.
Btw, I will try to add volume signaling on this indicator. I had been thinking in 2 options: 1) Maybe as a colour/unfilled bar when volume exceed average 2) Represent the volume on the width of the candlestick.
What do you prefer? Let me know.
I hope you enjoy it!
Phi it.
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#Added CMF, a kind of Volume-Weighted RSI oscillator.
You can study convergence and divergences with this oscillator aswell. My main idea was to work a trend strength indicator to ease price action, volume, and candlestick analysis.
I will keep optimizing it.
Hope you enjoy it!
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#Corrected the CMF position to ease the interpretation on large scales.
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#Optimized CMF @ 50 as it's zero, scaled to Candlestick normalization.
Yellow Divergences as examples.
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#Added Red-Down Arrows for Bearish Candle Patterns #Added Green-Up Arrows for Bullish Candle Patterns #Added White-Star for Indecisive Doji Candles (+Red-Down Arrow when Doji is Bearish)
Hope you enjoy it ;)
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#Added more Candlesticks
Violet = Divergences on CMF
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#Changed Bullish engulfish's lime to green colour #Changed Bearish engulfish's red to maroon colour