Contraction Levels

A contraction candle is a candle whose body engulfs both left and right candlesticks' bodies. This indicator shows those contraction candlestick patterns which consists of successive candles. Then draws a horizontal level line to its defined % of its body size and also draws +/- filter lines which are shown as dashed lines, also with an option to define those filters' percentage.

Bullish Contraction:
Whenever a new candle closes above the maximum high of 3 contraction candles pattern, that contraction is called bullish contraction and its lines are shown as green lines ( you can change the color as well)

Bearish Contraction:
Whenever a new candle closes below the maximum low of 3 contraction candles pattern, that contraction is called bearish contraction and its lines are shown as red lines ( you can change the color as well)

發行說明

Options to show/hide:
- Contraction Candles
- Center Lines
- Filter Lines

發行說明

Colors all 3 contraction candles instead of last candle

發行說明

Added Alerts and their options to show/hide for:
- New contraction candle
- New bullish and breakout
- Cross for center line and +/- filter lines

發行說明

Fixed a bug in breakout alerts

發行說明

Added some details to comments

發行說明

Fixed some bug about barstate for contraction bars

efe_akm

開源腳本

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. 您可以收藏它以在圖表上使用。