OPEN-SOURCE SCRIPT
20 Pips Candle Finder for XAUUSD
20 Pips Candle Finder for XAUUSD
This custom Pine Script indicator is specifically designed for XAUUSD (Gold) price action analysis. It identifies and visually marks candles with a body size of 20 pips or more, which can be important for traders focusing on strong momentum or significant price movement.
Key Features:
Dynamic Detection:
The script dynamically identifies candles whose body size exceeds 20 pips.
Calculations are based on XAUUSD's pip size of 0.1.
Visual Markers:
Candles meeting the 20-pip threshold are labeled with a green marker above the candle for quick identification.
Background Highlighting:
The candles meeting the condition are also visually highlighted with a transparent green background, making them easier to spot on the chart.
Debugging Tools:
The indicator plots:
A blue line showing the size of the candle bodies over time for better visibility.
A red dotted horizontal line showing the 20-pip threshold for quick reference.
Ideal Use Case:
This indicator is particularly useful for:
Traders focusing on momentum-based strategies.
Spotting candles with significant price movement.
Assessing market volatility during key trading hours or events.
By visually spotting these candles, traders can identify entry and exit opportunities, support/resistance breakouts, or potential reversals.
Inputs & Customization:
Currently, the indicator is set for XAUUSD's standard pip value (0.1) but can be adjusted if you plan to use it on other symbols. You can fine-tune the 20 pips threshold or other parameters to align with your trading strategy.
This custom Pine Script indicator is specifically designed for XAUUSD (Gold) price action analysis. It identifies and visually marks candles with a body size of 20 pips or more, which can be important for traders focusing on strong momentum or significant price movement.
Key Features:
Dynamic Detection:
The script dynamically identifies candles whose body size exceeds 20 pips.
Calculations are based on XAUUSD's pip size of 0.1.
Visual Markers:
Candles meeting the 20-pip threshold are labeled with a green marker above the candle for quick identification.
Background Highlighting:
The candles meeting the condition are also visually highlighted with a transparent green background, making them easier to spot on the chart.
Debugging Tools:
The indicator plots:
A blue line showing the size of the candle bodies over time for better visibility.
A red dotted horizontal line showing the 20-pip threshold for quick reference.
Ideal Use Case:
This indicator is particularly useful for:
Traders focusing on momentum-based strategies.
Spotting candles with significant price movement.
Assessing market volatility during key trading hours or events.
By visually spotting these candles, traders can identify entry and exit opportunities, support/resistance breakouts, or potential reversals.
Inputs & Customization:
Currently, the indicator is set for XAUUSD's standard pip value (0.1) but can be adjusted if you plan to use it on other symbols. You can fine-tune the 20 pips threshold or other parameters to align with your trading strategy.
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。