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Here, in this document I am providing the requirements of my indicator. I also had provided pictures for your reference with this document. This indicator should work on any timeframe. You may create 2 or 3 indicators as per your understanding.
1) Strength candles (means Body height>=50%Candle Height) indicator which plots "star" sign above the strength candle.
2) Tiny indecision candles (means Tiny Height IC Candles are Candle with Candle Heights CH% less than 0.15%) Open of the Day is fixed to calculate IC Candle Height %. Formula is % Difference / Open. Tiny IC indicator which plots "Blue Circle" sign above the Tiny IC and horizontal line at high and low. This 0.15% should be taken from user input.
Basically Candle shunting means:
*For bull strength candles, if open of recent green strength candle is lesser than or equal to close of past green strength candle then this two green strength candles are in shunting irrespective of non-strength candles between them. And here between open of past strength candle and close of recent strength candle provide momentum zone.
*For bear strength candles, if open of recent red strength candle is higher than or equal to close of past red strength candle then this two red strength candles are in shunting irrespective of non-strength candles between them. And here between open of past strength candle and close of recent strength candle provide momentum zone. I am requesting you to please go through below thread for further understanding of the concept "Candle shunting":
https://twitter.com/Deishma/status/1160196472136056833?s=20
If you have any questions regarding this concept, please ask me without any hesitation.
3) Draw a line from the close of a strength to the right till it meets or cuts the next strength candle
4) Keeping it simple, for selected period indicator should plot blue rectangle for momentum zone and pink rectangle for indecision zone. Just need to plot rectangular zone (momentum zone) for shunting strength candles.. Otherwise it's a indecisive zone..
I am attaching few snaps for your reference. In snaps you will see bull strength candle in green color and bear strength candle in red color. Black candles are indecision candles (non-strengh candles). (please ignore fibo levels and zig zag lines in snaps).
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