Enhanced Circle Candlestick

Enhanced Circle Candlestick
This script transforms standard candlesticks into circles, visualizing momentum, volume, and volatility in a unique way. The size and color of the circles change based on the body size of the candlestick, while a change in color signifies a volume spike. Long wicks are also highlighted, providing a quick visual cue for potential reversals or indecision.

Features

Circle Visualization: Replaces the standard candlestick body with a circle. The size of the circle is determined by the size of the candlestick body, making it easy to spot periods of high momentum.Gradient Color: The circle's opacity changes based on the body size. Smaller bodies have a lighter color, while larger, more powerful bodies have a darker, more vivid color. This visual gradient provides a clear indication of a bar's strength.Volume Spike Highlight: The circle's color will change to a bright yellow when the current volume exceeds the average volume by a user-defined factor, indicating a significant influx of buying or selling pressure.Long Wick Markers: The script draws a small triangle above or below the candlestick when a wick's length surpasses a user-defined percentage of the body's size. This helps identify potential exhaustion, rejection, or indecision in the market.

Settings

Bullish/Bearish Color: Customize the base colors for bullish (green) and bearish (red) circles.Volume Spike Color: Choose the color for the circle when a volume spike occurs.Volume Spike Factor: Set the multiplier for the volume spike detection. For example, a value of 2.0 means a volume spike is detected when the current volume is twice the 20-period moving average.Circle Opacity (0-100): Adjust the base transparency of the circles. Lower numbers result in more opaque (solid) colors.Opacity Factor: Controls how quickly the color gradient changes based on the body size. A higher value makes the color change more dramatic.Wick Length Factor (vs Body): Set the threshold for marking long wicks. A value of 0.8 means a wick is marked if its length is 80% or more of the candlestick body's size.

How to Use

Add this indicator to your chart.Open the Chart Settings.In the "Symbol" tab, set the transparency of the candlestick "Body" to 0%. (This step is essential because the indicator's settings will not be applied when the indicator is not selected, and the default platform settings take precedence.)

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