Bar Balance [LucF]Bar Balance extracts the number of up, down and neutral intrabars contained in each chart bar, revealing information on the strength of price movement. It can display stacked columns representing raw up/down/neutral intrabar counts, or an up/down balance line which can be calculated and visualized in many different ways.
WARNING: This is an analysis tool that works on historical bars only. It does not show any realtime information, and thus cannot be used to issue alerts or for automated trading. When realtime bars elapse, the indicator will require a browser refresh, a change to its Inputs or to the chart's timeframe/symbol to recalculate and display information on those elapsed bars. Once a trader understands this, the indicator can be used advantageously to make discretionary trading decisions.
Traders used to work with my Delta Volume Columns Pro will feel right at home in this indicator's Inputs . It has lots of options, allowing it to be used in many different ways. If you value the bar balance information this indicator mines, I hope you will find the time required to master the use of Bar Balance well worth the investment.
█ OVERVIEW
The indicator has two modes: Columns and Line .
Columns
• In Columns mode you can display stacked Up/Down/Neutral columns.
• The "Up" section represents the count of intrabars where `close > open`, "Down" where `close < open` and "Neutral" where `close = open`.
• The Up section always appears above the centerline, the Down section below. The Neutral section overlaps the centerline, split halfway above and below it.
The Up and Down sections start where the Neutral section ends, when there is one.
• The Up and Down sections can be colored independently using 7 different methods.
• The signal line plotted in Line mode can also be displayed in Columns mode.
Line
• Displays a single balance line using a zero centerline.
• A variable number of independent methods can be used to calculate the line (6), determine its color (5), and color the fill (5).
You can thus evaluate the state of 3 different components with this single line.
• A "Divergence Levels" feature will use the line to automatically draw expanding levels on divergence events.
Features available in both modes
• The color of all components can be selected from 15 base colors, with 16 gradient levels used for each base color in the indicator's gradients.
• A zero line can show a 6-state aggregate value of the three main volume balance modes.
• The background can be colored using any of 5 different methods.
• Chart bars can be colored using 5 different methods.
• Divergence and large neutral count ratio events can be shown in either Columns or Line mode, calculated in one of 4 different methods.
• Markers on 6 different conditions can be displayed.
█ CONCEPTS
Intrabar inspection
Intrabar inspection means the indicator looks at lower timeframe bars ( intrabars ) making up a given chart bar to gather its information. If your chart is on a 1-hour timeframe and the intrabar resolution determined by the indicator is 5 minutes, then 12 intrabars will be analyzed for each chart bar and the count of up/down/neutral intrabars among those will be tallied.
Bar Balances and calculation methods
The indicator uses a variety of methods to evaluate bar balance and to derive other calculations from them:
1. Balance on Bar : Uses the relative importance of instant Up and Down counts on the bar.
2. Balance Averages : Uses the difference between the EMAs of Up and Down counts.
3. Balance Momentum : Starts by calculating, separately for both Up and Down counts, the difference between the same EMAs used in Balance Averages and an SMA of double the period used for the EMAs. These differences are then aggregated and finally, a bounded momentum of that aggregate is calculated using RSI.
4. Markers Bias : It sums the bull/bear occurrences of the four previous markers over a user-defined period (the default is 14).
5. Combined Balances : This is the aggregate of the instant bull/bear bias of the three main bar balances.
6. Dual Up/Down Averages : This is a display mode showing the EMA calculated for each of the Up and Down counts.
Interpretation of neutral intrabars
What do neutral intrabars mean? When price does not change during a bar, it can be because there is simply no interest in the market, or because of a perfect balance between buyers and sellers. The latter being more improbable, Bar Balance assumes that neutral bars reveal a lack of interest, which entails uncertainty. That is the reason why the option is provided to interpret ratios of neutral intrabars greater than 50% as divergences. It is also the rationale behind the option to dampen signal lines on the inverse ratio of neutral intrabars, so that zero intrabars do not affect the signal, and progressively larger proportions of neutral intrabars will reduce the signal's amplitude, as the balance calcs using the up/down counts lose significance. The impact of the dampening will vary with markets. Weaker markets such as cryptos will often contain greater numbers of neutral intrabars, so dampening the Line in that sector will have a greater impact than in more liquid markets.
█ FEATURES
1 — Columns
• While the size of the Up/Down columns always represents their respective importance on the bar, their coloring mode is independent. The default setup uses a standard coloring mode where the Up/Down columns over/under the zero line are always in the bull/bear color with a higher intensity for the winning side. Six other coloring modes allow you to pack more information in the columns. When choosing to color the top columns using a bull/bear gradient on Balance Averages, for example, you will end up with bull/bear colored tops. In order for the color of the bottom columns to continue to show the instant bar balance, you can then choose the "Up/Down Ratio on Bar — Dual Solid Colors" coloring mode to make those bars the color of the winning side for that bar.
• Line mode shows only the line, but Columns mode allows displaying the line along with it. If the scale of the line is different than that of the scale of the columns, the line will often appear flat. Traders may find even a flat line useful as its bull/bear colors will be easily distinguishable.
2 — Line
• The default setup for Line mode uses a calculation on "Balance Momentum", with a fill on the longer-term "Balance Averages" and a line color based on the "Markers Bias". With the background set on "Line vs Divergence Levels" and the zero line on the hard-coded "Combined Bar Balances", you have access to five distinct sources of information at a glance, to which you can add divergences, divergences levels and chart bar coloring. This provides powerful potential in displaying bar balance information.
• When no columns are displayed, Line mode can show the full scale of whichever line you choose to calculate because the columns' scale no longer interferes with the line's scale.
• Note that when "Balance on Bar" is selected, the Neutral count is also displayed as a ratio of the balance line. This is the only instance where the Neutral count is displayed in Line mode.
• The "Dual Up/Down Averages" is an exception as it displays two lines: one average for the Up counts and another for the Down counts. This mode will be most useful when Columns are also displayed, as it provides a reference for the top and bottom columns.
3 — Zero Line
The zero line can be colored using two methods, both based on the Combined Balances, i.e., the aggregate of the instant bull/bear bias of the three main bar balances.
• In "Six-state Dual Color Gradient" mode, a dot appears on every bar. Its color reflects the bull/bear state of the Combined Balances, and the dot's brightness reflects the tally of balance biases.
• In "Dual Solid Colors (All Bull/All Bear Only)" a dot only appears when all three balances are either bullish or bearish. The resulting pattern is identical to that of Marker 1.
4 — Divergences
• Divergences are displayed as a small circle at the top of the scale. Four different types of divergence events can be detected. Divergences occur whenever the bull/bear bias of the method used diverges with the bar's price direction.
• An option allows you to include in divergence events instances where the count of neutral intrabars exceeds 50% of the total intrabar count.
• The divergence levels are dynamic levels that automatically build from the line's values on divergence events. On consecutive divergences, the levels will expand, creating a channel. This implementation of the divergence levels corresponds to my view that divergences indicate anomalies, hesitations, points of uncertainty if you will. It excludes any association of a pre-determined bullish/bearish bias to divergences. Accordingly, the levels merely take note of divergence events and mark those points in time with levels. Traders then have a reference point from which they can evaluate further movement. The bull/bear/neutral colors used to plot the levels are also congruent with this view in that they are determined by price's position relative to the levels, which is how I think divergences can be put to the most effective use.
5 — Background
• The background can show a bull/bear gradient on four different calculations. You can adjust its brightness to make its visual importance proportional to how you use it in your analysis.
6 — Chart bars
• Chart bars can be colored using five different methods.
• You have the option of emptying the body of bars where volume does not increase, as does my TLD indicator, the idea behind this being that movement on bars where volume does not increase is less relevant.
7 — Intrabar Resolution
You can choose between three modes. Two of them are automatic and one is manual:
a) Fast, Longer history, Auto-Steps (~12 intrabars) : Optimized for speed and deeper history. Uses an average minimum of 12 intrabars.
b) More Precise, Shorter History Auto-Steps (~24 intrabars) : Uses finer intrabar resolution. It is slower and provides less history. Uses an average minimum of 24 intrabars.
c) Fixed : Uses the fixed resolution of your choice.
Auto-Steps calculations vary for 24/7 and conventional markets in order to achieve the proper target of minimum intrabars.
You can choose to view the intrabar resolution currently used to calculate delta volume. It is the default.
The proper selection of the intrabar resolution is important. It must achieve maximal granularity to produce precise results while not unduly slowing down calculations, or worse, causing runtime errors.
8 — Markers
Six markers are available:
1. Combined Balances Agreement : All three Bar Balances are either bullish or bearish.
2. Up or Down % Agrees With Bar : An up marker will appear when the percentage of up intrabars in an up chart bar is greater than the specified percentage. Conditions mirror to down bars.
3. Divergence confirmations By Price : One of the four types of balance calculations can be used to detect divergences with price. Confirmations occur when the bar following the divergence confirms the balance bias. Note that the divergence events used here do not include neutral intrabar events.
4. Balance Transitions : Bull/bear transitions of the selected balance.
5. Markers Bias Transitions : Bull/bear transitions of the Markers Bias.
6. Divergence Confirmations By Line : Marks points where the line first breaches a divergence level.
Markers appear when the condition is detected, without delay. Since nothing is plotted in realtime, markers do not appear on the realtime bar.
9 — Settings
• Two modes can be selected to dampen the line on the ratio of neutral intrabars.
• A distinct weight can be attributed to the count of the latter half of intrabars, on the assumption that later intrabars may be more important in determining the outcome of chart bars.
• Allows control over the periods of the different moving averages used in calculations.
• The default periods used for the various calculations define the following hierarchy from slow to fast:
Balance Averages: 50,
Balance Momentum: 20,
Dual Up/Down Averages: 20,
Marker Bias: 10.
█ LIMITATIONS
• This script uses a special characteristic of the `security()` function allowing the inspection of intrabars—which is not officially supported by TradingView.
• The method used does not work on the realtime bar—only on historical bars.
• The indicator only works on some chart resolutions: 3, 5, 10, 15 and 30 minutes, 1, 2, 4, 6, and 12 hours, 1 day, 1 week and 1 month. The script’s code can be modified to run on other resolutions, but chart resolutions must be divisible by the lower resolution used for intrabars and the stepping mechanism could require adaptation.
• When using the "Line vs Divergence Levels — Dual Color Gradient" color mode to fill the line, background or chart bars, keep in mind that a line calculation mode must be defined for it to work, as it determines gradients on the movement of the line relative to divergence levels. If the line is hidden, it will not work.
• When the difference between the chart’s resolution and the intrabar resolution is too great, runtime errors will occur. The Auto-Steps selection mechanisms should avoid this.
• Alerts do not work reliably when `security()` is used at intrabar resolutions. Accordingly, no alerts are configured in the indicator.
• The color model used in the indicator provides for fancy visuals that come at a price; when you change values in Inputs , it can take 20 seconds for the changes to materialize. Luckily, once your color setup is complete, the color model does not have a large performance impact, as in normal operation the `security()` calls will become the most important factor in determining response time. Also, once in a while a runtime error will occur when you change inputs. Just making another change will usually bring the indicator back up.
█ RAMBLINGS
Is this thing useful?
I'll let you decide. Bar Balance acts somewhat like an X-Ray on bars. The intrabars it analyzes are no secret; one can simply change the chart's resolution to see the same intrabars the indicator uses. What the indicator brings to traders is the precise count of up/down/neutral intrabars and, more importantly, the calculations it derives from them to present the information in a way that can make it easier to use in trading decisions.
How reliable is Bar Balance information?
By the same token that an up bar does not guarantee that more up bars will follow, future price movements cannot be inferred from the mere count of up/down/neutral intrabars. Price movement during any chart bar for which, let's say, 12 intrabars are analyzed, could be due to only one of those intrabars. One can thus easily see how only relying on bar balance information could be very misleading. The rationale behind Bar Balance is that when the information mined for multiple chart bars is aggregated, it can provide insight into the history behind chart bars, and thus some bias as to the strength of movements. An up chart bar where 11/12 intrabars are also up is assumed to be stronger than the same up bar where only 2/12 intrabars are up. This logic is not bulletproof, and sometimes Bar Balance will stray. Also, keep in mind that balance lines do not represent price momentum as RSI would. Bar Balance calculations have no idea where price is. Their perspective, like that of any historian, is very limited, constrained that it is to the narrow universe of up/down/neutral intrabar counts. You will thus see instances where price is moving up while Balance Momentum, for example, is moving down. When Bar Balance performs as intended, this indicates that the rally is weakening, which does necessarily imply that price will reverse. Occasionally, price will merrily continue to advance on weakening strength.
Divergences
Most of the divergence detection methods used here rely on a difference between the bias of a calculation involving a multi-bar average and a given bar's price direction. When using "Bar Balance on Bar" however, only the bar's balance and price movement are used. This is the default mode.
As usual, divergences are points of interest because they reveal imbalances, which may or may not become turning points. I do not share the overwhelming enthusiasm traders have for the purported ability of bullish/bearish divergences to indicate imminent reversals.
Superfluity
In "The Bed of Procrustes", Nassim Nicholas Taleb writes: To bankrupt a fool, give him information . Bar Balance can display lots of information. While learning to use a new indicator inevitably requires an adaptation period where we put it through its paces and try out all its options, once you have become used to Bar Balance and decide to adopt it, rigorously eliminate the components you don't use and configure the remaining ones so their visual prominence reflects their relative importance in your analysis. I tried to provide flexible options for traders to control this indicator's visuals for that exact reason—not for window dressing.
█ NOTES
For traders
• To avoid misleading traders who don't read script descriptions, the indicator shows nothing in the realtime bar.
• The Data Window shows key values for the indicator.
• All gradients used in this indicator determine their brightness intensities using advances/declines in the signal—not their relative position in a fixed scale.
• Note that because of the way gradients are optimized internally, changing their brightness will sometimes require bringing down the value a few steps before you see an impact.
• Because this indicator does not use volume, it will work on all markets.
For coders
• For those interested in gradients, this script uses an advanced version of the Advance/Decline gradient function from the PineCoders Color Gradient (16 colors) Framework . It allows more precise control over the range, steps and min/max values of the gradients.
• I use the PineCoders Coding Conventions for Pine to write my scripts.
• I used functions modified from the PineCoders MTF Selection Framework for the selection of timeframes.
█ THANKS TO:
— alexgrover who helped me think through the dampening method used to attenuate signal lines on high ratios of neutral intrabars.
— A guy called Kuan who commented on a Backtest Rookies presentation of their Volume Profile indicator . The technique I use to inspect intrabars is derived from Kuan's code.
— theheirophant , my partner in the exploration of the sometimes weird abysses of `security()`’s behavior at intrabar resolutions.
— midtownsk8rguy , my brilliant companion in mining the depths of Pine graphics. He is also the co-author of the PineCoders Color Gradient Frameworks .
Search in scripts for "bar"
Bar StatisticsThis script calculates and displays some bar statistics.
For the bar length statistics, it takes every length of upper or lower movements and calculates their average (with SD), median, and max. That way, you can see whether there is a bias in the market or not.
Eg.: If for 10 bars, the market moved 2 up, then 1 down, then 3 up, then 2 down, and 2 up, the average up bars length would be at 2.33, while the average for the down length would be at 1.5, showing that upper movements last longer than down movements.
For the range statistics, it takes the true range of each bar and calculates where the close of the bar is in relation to the true low of it. So if the closing of the bar is at 10.0, the low is at 9.0, and the high is at 10.2, the candle closed in the upper third of the bar. This process is calculated for every bar and for both closing prices and open prices. It is very useful to locate biasses, and they can you a better view of the market, since for most of the time a bar will open on an extreme and close on another extreme.
Eg.: Here on the DJI, we can see that for most of the time, a month opens at the lower third (near the low) and closes at the upper third (near the high). We can also see that it is very difficult for a month to open or close on the middle of the candle, showing how important the first and the last day are for determining the trend of the rest of the month.
Bar Count for BacktestingHello!
Not much special about this script; you can use date & time, or bar count, to ascertain the number of bars in a time period for backtesting.
This script can be used in conjunction with large scripts incorporating complex intricacies that won't load on 20,000+ bar data sets.
If your script's load time transcends the TV allotted load time - use this script to quickly determine the number of bars in the data set.
Through trial & error you should be able to determine the approximate number of bars your script can execute on without exceeding the imposed time limit!
The image above shows a user-defined time window and, consequently, the script returns the number of bars that constitute the time period.
You can drag the white vertical lines to efficiently configure the calculated time period.
The image above shows functionality for the "Bars Back" feature.
Enjoy!
Volume BarsVolume Sato's Bar / Satos Bar / Raio X Preditivo
This is an experimental code based on Satos Bar by Raio X Preditivo
It's a way to check expressive volume in one bar, and it's can give you an idea of a important Zones to make decisions.
Example:
Bar Count for XAUThis TradingView indicator labels every other five-minute candle for XAU during the current Beijing session, which runs from 06:00 to 05:00 the next day. It shows the actual bar numbers—1, 3, 5, and so on—only for today’s session; yesterday’s labels are automatically cleared at the new open. The tags appear just below each qualifying candle with no background box, and you can adjust the font size in the settings. In short, it gives you a clean, real-time visual of intraday bar order without clutter
Bar ColorHere is another indicator.
This indicator is useful from psychological point of view. It has a 20 EMA, which you can change to any value. The color of the candles or the bars will stay green unless and until we have a closing below 20 EMA, where it would give a red bar.
The tool has a great impact on psychology and keeps us in trade irrespective of the candlestick patterns.
Hope you will enjoy
Regards
Bravetotrade
YinYang Bar ForecastOverview:
YinYang Bar Forecast is a prediction indicator. It predicts the movement for High, Low, Open and Close for up to 13 bars into the future. We created this Indicator as we felt the TradingView community could benefit from a bar forecast as there wasn’t any currently available.
Our YinYang Bar Forecast is something we plan on continuously working on to better improve it, but at its current state it is still very useful and decently accurate. It features many calculations to derive what it thinks the future bars will hold. Let’s discuss some of the logic behind it:
Each bar has its High, Low, Open and Close calculated individually for highest accuracy. Within these calculations we first check which bar it is we are calculating and base our span back length that we are getting our data from based on the bar index we are generating. This helps us get a Moving Average for this bar index.
We take this MA and we apply our Custom Volume Filter calculation on it, which is essentially us dividing the current bars volume over the average volume in the last ‘Filtered Length’ (Setting) length. We take this decimal and multiply it on our MA and smooth it out with a VWMA.
We take the new Volume Filtered MA and apply a RSI Filter calculation on it. RSI Filter is where we take the difference between the high and low of this bar and we multiply it with an RSI calculation using our Volume Filtered MA. We take the result of that multiplication and either add or subtract it from the Volume Filtered MA based on if close > open. This makes our RSI Filtered MA.
Next, we do an EMA Strength Calculation which is where we check if close > ema(close, ‘EMA Averaged Length’) (Setting). Based on this condition we assign a multiplier that is applied to our RSI Filtered MA. We divide by how many bars we are predicting and add a bit to each predictive bar so that the further we go into the future the stronger the strength is.
Next we check RSI and RSI MA levels and apply multiplications based on its RSI levels and if it is greater than or less than the MA. Also it is affected by if the RSI is <= 30 and >= 70.
Finally we check the MFI and MFI MA levels and like RSI we apply multiplications based on its MFI levels and if it is greater than or less than the MA. It is also affected by if the MFI is <= 30 and >= 70.
Please note the way we calculate this may change in the future, this is just currently what we deemed works best for forecasting the future bars. Also note this script uses MA calculations out of scope for efficiency but there is potential for inconsistencies.
Innately it’s main use is the projection it provides. It only draws the bars for realtime bars and not historical ones, so the best way to backtest it is with TradingView’s Replay Tool.
Well, enough of the logic behind it, let's get to understanding how to use it:
Tutorial:
So unfortunately we aren’t able to plot legit bars/candles into the future so we’ve had to do a bit of a work around using lines and fills. As you can see here we have 4 Lines and 3 Zones:
Lines:
Green: Represents the High
Orange: Represents the Open
Teal: Represents the Close
Red: Represents the Low
Zones:
High Zone: This zone is from either Open or Close to the High and is ALWAYS filled with Green.
Open/Close Zone: This zone is from the Open to the Close and is filled with either Green or Red based on if it's greater than the previous bar (real or forecasted).
Low Zone: This zone is from either Open or Close to the Low and is ALWAYS filled with Red.
As you can see generally the Forecasted bars are generally within strong pivot locations and are a good estimation of what will likely go on. Please note, the WHOLE structure of the prediction can change based on the current bars movements and the way it affects the calculations.
Let's look 1 bar back from the current bar just so we can see what it used to Forecast:
As you can see it has changed quite a bit from the previous bar, but if you look close, we drew horizontal lines around where its projecting the next bar to be (our current realtime bar), if we go back to the live chart:
Its projections were pretty close for the high and low. Generally, right now at least, it does a much better job at predicting the high and low than it does the open and close, however we will do our best to fine tune that in future updates.
Remember, this indicator is not meant to base your trades on, but rather give you a Forecast towards the general direction of the next few bars. Somewhat like weather, the farther the bar (or day for weather), the harder it is to predict. For this reason we recommend you focusing on the first few bars as they are more accurate, but review the further ones as they may help show the trend and the way that pair will move.
We will conclude this tutorial here, hopefully this Predictive Indicator can be of some help and use to you. If you have any questions, comments, ideas or concerns please let us know.
Settings:
Forecast Length: How many bars should we predict into the Future? Max 13
Each Bar Length Multiplier: For each new Forecast bar, how many more bars are averaged? Min 2
VWMA Averaged Length: All Forecast bars are put into a VWMA, what length should we use?
EMA Averaged Length: All Forecast bars are put into a EMA, what length should we use?
Filtered Length: What length should we use for Filtered Volume and RSI?
EMA Strength Length: What length should we use for the EMA Strength
HAPPY TRADING!
Chained Inside BarsThis script identifies consecutive inside bars by referencing only the most recent non-inside bar, so it avoids excessive lookback. An “inside” bar means its high is lower than the reference bar’s high, and its low is higher than the reference bar’s low. If the current bar is inside, it’s colored white; once price breaks outside, the script updates that new bar as the next reference.
Key Points
• Bars are compared against the last non-inside bar, chaining consecutive inside bars off that same reference bar.
• Inside bars are highlighted in white (non-inside bars retain default chart colors).
• Includes an alert condition for when a new inside bar forms.
• Prevents large dynamic indexing, making it more stable and efficient.
Use this indicator to quickly spot consecutive inside-bar formations without needing to track every single bar-to-bar relationship.
Three (3)-Bar and Four (4)-Bar Plays StrategyThis strategy analyzes the three and four-bar play which is when price action has a wide igniting bar that has a full body, then one or two narrow bars which have a relatively equal high for long plays and relatively equal low for short plays, then a continuation bar. You should not take plays that will encounter resistance. The stop loss is placed for long plays below the 2nd bar (or 3rd bar for 4-bar play).
This is commonly used on 1m, 2m, 5m, and 10m charts.
Jared Wesley is one of the more notable traders that use this setup. You can edit as an input the start date, end date, igniting bar size, the body percentage of the igniting bar, the relative equality of the 2nd bar (and 3rd bar for 4-bar play) compared to the igniting bar, and profit multiplier.
Bars In a Row Counter Pro by RRBBars In a Row Counter Pro by RagingRocketBull 2018
Version 1.0
This indicator counts bars of the same color in a sequence (dojis included) and plots the resulting counts as histogram bars
1. based on barssince, uses plot function with histogram style
2. Min/Max Threshold is the upper and lower limits for counting bars. For example, you can look only for sequences of 5 to 10 bars of the same color in a row
3. Show Histogram Beyond Threshold - you can hide/change color of the non-important histogram part that exceeds the threshold
4. Show Threshold Bands - show the upper and lower limits as levels on the indicator
5. Show Min/Max Bands - show ATH max red/green bars in a row historic levels on the indicator
6. Count Red Bars - count red bars in a sequence, show/hide red bars on a histogram (you can exclude red bars and count only green bars)
7. Count Green Bars - count green bars in a sequence, show/hide green bars on a histogram (you can exclude green bars and count only red bars)
8. Invert Red Bars - show red and green histograms together on the same axis above zero (saves space)
Feel free to use. Good Luck!
Three (3)-Bar and Four (4)-Bar PlaysThis indicator shows the three and four-bar play which is when price action has a wide igniting bar that has a full body, then one or two narrow bars which have a relatively equal high for long plays and relatively equal low for short plays, then a continuation bar. You should not take plays that will encounter resistance.
Jared Wesley is one of the more notable traders that use this setup. There will be a label placed on the chart when a play occurs. You can edit as an input the igniting bar size, the body percentage of the igniting bar, and the relative equality of the 2nd (and 3rd bar for 4 bar play) compared to the igniting bar.
Three-Bar Inside Bar PaternAuthor: Johnan Prathap TASC March 2011
The typical inside bar two-bar view indicates minimal activity in a market. It is defined as a bar (or series of bars) that is completely within the range of the preceding bar; that is, it has a higher low and lower high than the bar immediately before it. Some traders consider a bar an inside bar if the high and low are equal to the previous bar or where there are several consecutive bars within the range of a previous bar.
Many analysts tend to view inside bars as an indication of declining market activity, or possibly a prelude to a large movement in either direction.
Last Available Bar InfoLibrary "Last_Available_Bar_Info"
getLastBarTimeStamp()
getAvailableBars()
This simple library is built with an aim of getting the last available bar information for the chart. This returns a constant value that doesn't change on bar change.
For backtesting with accurate results on non standard charts, it will be helpful. (Especially if you are using non standard charts like Renko Chart).
Methods
getLastBarTimeStamp()
: Returns Timestamp of the last available bar (Constant)
getAvailableBars()
:Returns Number of Available Bars on the chart (Constant)
Example
import paragjyoti2012/Last_Available_Bar_Info/v1 as LastBarInfo
last_bar_timestamp=LastBarInfo.getLastBarTimeStamp()
no_of_bars=LastBarInfo.getAvailableBars()
If you are using Renko Charts, for backtesting, it's necesary to filter out the historical bars that are not of this timeframe.
In Renko charts, once the available bars of the current timeframe (based on your Tradingview active plan) are exhausted,
previous bars are filled in with historical bars of higher timeframe. Which is detrimental for backtesting, and it leads to unrealistic results.
To get the actual number of bars available of that timeframe, you should use this security function to get the timestamp for the last (real) bar available.
tf=timeframe.period
real_available_bars = request.security(syminfo.ticker, tf , LastBarInfo.getAvailableBars() , lookahead = barmerge.lookahead_off)
last_available_bar_timestamp = request.security(syminfo.ticker, tf , LastBarInfo.getLastBarTimeStamp() , lookahead = barmerge.lookahead_off)
3-Bar and 4-Bar PlaysThis indicator helps identify 3-bar and 4-bar plays, which are price action patterns consisting of a wide ranging bar that breaks above or below resistance or support, followed by one or two collecting/consolidating bars, then a continuation bar in the direction of the new trend. The 3 and 4-bar play is taught by Jared Wesley and Anmol Singh at Live Traders.
The indicator works by looking for a wide ranging bar breaking out of an offset donchian channel, followed by one or two consolidating bars, then a continuation in the direction of the move. The script will place a label on the chart when it spots the pattern and alerts can be set up. Enjoy!
Bill Williams Divergent BarsBill William Bull/Bear divergent bars
See: Book, Trading Chaos by Bill Williams
Coded by polyclick
A bullish (green) divergent bar, signals a trend switch from bear -> bull
-> The current bar has a lower low than the previous bar, but closes in the upper half of the candle.
-> This means the bulls are pushing from below and are trying to take over, potentially resulting in a trend switch to bullish.
-> We also check if this bar is below the three alligator lines to avoid false positives.
A bearish (red) divergent bar, signals a trend switch from bull -> bear
-> The current bar has a higher high than the previous bar, but closes in the lower half of the candle.
-> This means the bears are pushing the price down and are taking over, potentially resulting in a trend switch to bearish.
-> We also check if this bar is above the three alligator lines to avoid false positives.
Best used in combination with the Bill Williams Alligator indicator.
Session Coloring Bar with ICT Macro [dani]The Session Coloring Bar is customizable Pine Script indicator designed to visually enhance your charts by applying unique colors to specific trading sessions or timeframes. This tool allows traders to easily identify and differentiate between macro sessions (e.g., 24-hour cycles) and custom-defined sessions (e.g., Session A, Session B), making it ideal for analyzing market activity during specific periods.
In the context of trading, the term "ICT Macro" , as discussed by Michael J. Huddleston (ICT), refers to specific timeframes or "windows" where market behavior often follows predictable patterns. Traders typically focus on the last 10 minutes of an hour and the first 10 minutes of the next hour (e.g., 0150-0210 , 0050-0110 , or 0950-1010 ) to identify key price movements, liquidity shifts, or market inefficiencies.
This script highlights these macro timeframes, enabling traders to visually analyze price action during these critical periods. Use this tool to support your strategy, but always combine it with your own analysis and risk management.
With this indicator, you can:
Highlight Macro Sessions : Automatically color bars based on predefined 24-hour macro sessions.
Customize Session Settings : Define up to three custom sessions (A & B) with individual start/end times, visibility toggles, and unique bar colors.
Timeframe Filtering : Hide session coloring above a specified timeframe to avoid clutter on higher timeframes.
Personal Notes : Add comments to each session for better organization and quick reference.
Dynamic Color Logic : Bars are colored based on their direction (up, down, or neutral) within the active session.
How to Use:
Enable/Disable Sessions :
Use the Show Coloring toggle to enable or disable session coloring for Macro, Session A, Session B, or Session C.
Set Session Times :
Define the start and end times for each session in the format HHMM-HHMM (e.g., 1600-0930 for an overnight session).
Choose Colors :
Assign unique colors for upward (Bar Up) and downward (Bar Down) bars within each session.
Adjust Timeframe Visibility :
Use the Hide above this TF input to specify the maximum timeframe where session coloring will be visible.
Add Notes :
Use the Comment field to add personal notes or labels for each session.
Example Use Cases:
Overnight Sessions :
Highlight overnight trading hours (e.g., 1600-0930) to analyze price action during low liquidity periods.
Asian/European/US Sessions : Define separate sessions for major trading regions to track regional market behavior.
Macro Analysis : Use the predefined 24-hour macro sessions to study hourly price movements across a full trading day.
Disclaimer:
The Session Coloring Bar is not a trading signal generator and does not predict market direction or provide buy/sell signals. Instead, it is a visualization tool designed to help you identify and analyze specific trading sessions or timeframes on your chart. By highlighting key sessions and their corresponding price movements, this indicator enables you to focus on periods of interest and make more informed trading decisions.
Thank you for choosing this indicator! I hope it becomes a valuable part of your trading toolkit. Remember, trading is a journey, and having the right tools can make all the difference. Whether you're a seasoned trader or just starting out, this indicator is designed to help you stay organized and focused on what matters most—price action. Happy trading, and may your charts be ever in your favor! 😊
Lost Bar Locator v1 [Yaphott]Lost Bar Locator v1 helps you locate missing data on your chart.
It does this by looking for consecutive bars that have a delta time greater than the current interval.
Two lines are drawn for each group of one or more missing bars:
Bar before the missing bar(s).
Bar after the missing bar(s).
Bars Above/Below Donchian Channel [ScalpTradr]"Bars Above/Below Donchian Channel" provides a visualization of the Donchian Channel and measures the number of bars above and below the middle line of the channel.
The Donchian Channel is a trading indicator that outlines the highest high and the lowest low over a defined number of periods, in this case set by the variable "length". This indicator script specifically also calculates the 'basis', which is the average of the upper and lower channels of the Donchian Channel.
When the closing price of a bar is above the 'basis', the script increases a counter for "aboveCount" and adds a label on the chart to show how many bars have closed above the 'basis'. This label is green and it's always placed at the high price of the bar. Conversely, when the closing price is below the 'basis', it increases a counter for "belowCount" and adds a red label on the chart to show how many bars have closed below the 'basis'. This label is placed at the lower_channel level.
This script can be useful for traders who use the Donchian Channel as a part of their trading strategy. The number of bars closing above or below the 'basis' can provide insights into the ongoing trend. A higher count of bars closing above the 'basis' can be interpreted as a bullish signal, suggesting an upward trend. Similarly, a higher count of bars closing below the 'basis' can be interpreted as a bearish signal, suggesting a downward trend
I hope you find this indicator useful.
Enjoy.
Abnormal bar % v.1This script helps you find abnormal bars on the charts.
An abnormal bar is a bar that is larger than the adjacent bar by at least 50 percent.
The script can search for bars on any time frame.
The search for an abnormal bar, is possible in two ways:
- on the absolute value, for example - all that is higher than 0.5% is considered an abnormal bar, on different timeframes it is necessary to change the percentage values;
- on the basis of the ATR, in my opinion it is a more objective result.
In the settings available:
- choice of color to display percentages on the screen;
- choice of calculation method;
- Selecting the value - what is considered an abnormal bar.
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Данный скрипт помогает найти на графиках аномальные бары.
Аномальный бар - это бар который, больше рядом стоящего бара как минимум на 50 процентов.
Скрипт может искать бары на любом тайм-фрейма.
Поиск аномального бара, возможен в двух вариантах:
- по абсолютному значению, например - всё что выше 0.5%, считается аномальным баром, на разных тайм-фреймах нужно менять значения процентов;
- на основание ATR, на мой взгляд это более объективный результат.
В настройках доступно:
- выбор цвета для отображения процентов на экране;
- выбор способа поиска;
- выбор значения - что считаем аномальным баром.
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HG Scalpius - Previous Bar HighlightHG Scalpius - Previous Bar Highlight
This indicator highlights the 20th bar from the current bar and has the below applications for trading the HG Scalpius system:
- Determining if trend mode off switch is triggered, failing to set a new higher (lower) close in the trend with 20 bars
- Determining the highest (lowest) bar in the previous range to decide if a trade is high & tight
bars_back = input(defval=20, minval=0, title="Bars Back")
bgcolor(#9C27B0, offset=-bars_back, show_last=1)
If you come across or think of any other useful scripts for the HG Scalpius system please comment below!
Happy trading!
shadow barThis indicator shows a new formation of retrospective candlestick bars of one period (n) of time.
In this way the trader can see how the traditional bars are part of a larger formation that can show a trend or a range.
The new shadow bars are drawn with a degree of transparency that makes it possible to distinguish traditional candlesticks;
and where shadow candles can be seen as support or resistance to traditional candlesticks.
When the traditional candlesticks are the same size as the shadow candlesticks, it can be expected that we are forming a compression or range that will result in a strong move.
In addition to the shadow bars, there is a ribbon created from the new candlestick data that is formed as a line from the linear regression function and another that is the previous line smoothed by its exponential moving average. This tape allows you to see the trend more clearly and at the crossovers of the lines that form possible reversals or continuations of the trend. The indicator has the timeframe field active, which allows the indicator to be displayed in other temporalities.
*The closing price of the new bars is the same as that of the traditional bars.
* The tape is turned off by defa
Volume Based Coloured BarsVolume Based Coloured Bars:
Most of the time traders are confused about if the price movements were supported by VOLUME .
This indicator colors the bars into volume weighted signals...
When prices go down bars are red and contraversely when up, bars are green. Additionally we have two more colors for each
situation:
PRICE BARS ARE:
DARK RED when prices go down and VOLUME is bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BEARISH VOLUME
RED when prices go down and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak
ORANGE when prices go down and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much
DARK GREEN when prices go UP and VOLUME bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BULLISH VOLUME
GREEN when prices go UP and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak
LIGHT GREEN when prices go UP and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much
21 day Simple Moving Average used as default value which can be changed in the settings menu,
21 day is considered as a month for STOCK Markets, it would be more accurate to set the value to 30 for CRYPTO CURRENCIES
Brooks 18 Bars [KintsugiTrading]Brooks 18 Bars
Overview:
This indicator allows traders to specify a time frame within each trading day and plots lines at the highest and lowest prices recorded during that period. It is particularly useful for identifying key levels of support and resistance within a specified time range.
Features:
User-Defined Time Frame: Traders can input their desired start and end times in a 24-hour format, allowing flexibility to analyze different market sessions.
High and Low Price Levels: The indicator plots lines representing the highest and lowest prices observed within the specified time frame each day.
Clear Visual Representation: The high and low lines are color-coded for easy identification, with the high & low prices in Kintsugi Trading Gold.
How to Use:
Set the Time Frame:
Adjust the "Start Time Hour" and "Start Time Minute" to define the beginning of your desired time frame.
Adjust the "End Time Hour" and "End Time Minute" to define the end of your desired time frame.
Analyze Key Levels:
Al Brooks popularized the following idea and basis for creating this indicator:
On a 5-minute chart, Bar 1 has a 20-30% chance of being the High or Low of the day.
Bar 12 has a 50% chance.
Bar 18 has an 80-90% chance.
Use the plotted lines to identify significant support and resistance levels within your specified time frame. These levels can help inform your trading decisions, such as entry and exit points.
Good luck with your trading!
Inside Bars (Multiple / Consecutive)Description
When an inside bar is found, the indicator remembers the high and low (= range) of the candle before the inside bar.
As long as price moves within the range, every bar is highlighted as an inside bar to the range.
Purpose
The indicator can assist when identifying valid pullbacks and buy-side liquidity (BSL) / sell-side liquidity (SSL).