OPEN-SOURCE SCRIPT
Candle body break (M_WD4H1H)v5
Overview
This indicator is a multi-timeframe (MTF) analysis tool specialized in detecting candle body breaks. It overlays the break levels for five timeframes: monthly (M), weekly (W), daily (D), 4-hourly (4H), and 1-hourly (1H) on the current chart.
Major Features
Feature Description
Five timeframes: M/W/D/4H/1H. Data for each timeframe is retrieved and calculated using the request.security() function.
Break Detection Logic: A "body break" is defined as when the closing price of the current candlestick exceeds or falls below the body high/low of the previous opposite candlestick.
Confirmed Break Line: A solid line extending from the point of the break to the right edge of the chart indicates the price level at which a previous body break occurred. Upward breaks are drawn in blue, and downward breaks are drawn in red.
Candidate Break Lines: Green dotted lines indicate the (unbroken) body high and low levels that are the next target for a break.
Summary Table: A list of the most recent break direction (upward ⇧ / downward ⇩ / none "") for each time frame (M/W/D/4H/1H) is displayed in the upper right corner of the chart.
Display Time Frame Limit: Depending on user settings, the break line itself will only be displayed for the chart's time frame or higher. Candidate lines can also be displayed only for the current chart's time frame.
Alert Function: An alert will be issued when a body break occurs on the 1-hour (1H) time frame.
Scale Settings: The entire indicator is fixed to the price scale on the right.
This indicator is a multi-timeframe (MTF) analysis tool specialized in detecting candle body breaks. It overlays the break levels for five timeframes: monthly (M), weekly (W), daily (D), 4-hourly (4H), and 1-hourly (1H) on the current chart.
Major Features
Feature Description
Five timeframes: M/W/D/4H/1H. Data for each timeframe is retrieved and calculated using the request.security() function.
Break Detection Logic: A "body break" is defined as when the closing price of the current candlestick exceeds or falls below the body high/low of the previous opposite candlestick.
Confirmed Break Line: A solid line extending from the point of the break to the right edge of the chart indicates the price level at which a previous body break occurred. Upward breaks are drawn in blue, and downward breaks are drawn in red.
Candidate Break Lines: Green dotted lines indicate the (unbroken) body high and low levels that are the next target for a break.
Summary Table: A list of the most recent break direction (upward ⇧ / downward ⇩ / none "") for each time frame (M/W/D/4H/1H) is displayed in the upper right corner of the chart.
Display Time Frame Limit: Depending on user settings, the break line itself will only be displayed for the chart's time frame or higher. Candidate lines can also be displayed only for the current chart's time frame.
Alert Function: An alert will be issued when a body break occurs on the 1-hour (1H) time frame.
Scale Settings: The entire indicator is fixed to the price scale on the right.
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。
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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。