Candle Density Series Et
- Indicators
- Version: 3.20
Candle Density Series - Detecting Density and Streaks of Consecutive Candles
Candle Density Series is a powerful indicator from the CVET System that identifies zones of high candle density — sequences of consecutive bullish or bearish candles.
It tracks and visualizes series of same-direction candles, helping traders understand the strength and persistence of the current market impulse. This is the first (free) version of the indicator, laying the foundation for more advanced density analysis tools in the CVET lineup.
What the Indicator Does
The indicator analyzes the chart in real time and detects candle series (also known as candle streaks):
Highlights completed series with horizontal lines and informative labels (length + purity %)
Displays the currently developing series with live updates
Smartly handles noise (opposite candles) inside an ongoing series
Generates counter-trend signals (arrows) after strong series reach a user-defined threshold
It is especially effective at spotting impulse moves and potential exhaustion zones.
Key Features
Clear visualization of bullish and bearish candle series
Calculation of series purity (accounting for dojis and noise)
Advanced logic for noise tolerance within a series
High-quality counter-trend arrow signals with Low/Med/High rating
Detailed legend with statistics: last series, dominance, average length, and more
Adaptive font scaling depending on chart zoom
Global Variables support for easy integration with Expert Advisors
Main Parameters
Min Series Length — minimum number of candles required to form a valid series
Max Noise In Series — maximum allowed opposite candles (noise) inside a series
Min Series For Signal — minimum series length to trigger a counter-trend signal
Show Signal Arrow — enable/disable counter-trend signals
Target Period — preferred working timeframe (recommended M5)
How It Helps Traders
Candle Density Series is an excellent tool for price action traders. It helps you:
Evaluate the real strength of bullish or bearish impulses
Identify potential reversal zones after long consecutive candle streaks
Filter out weak and noisy movements
Better understand the current market regime (strong trend vs consolidation)
By visualizing density of candles, you get a clearer picture of where the market has real momentum and where it starts to weaken.
Integration with CVET System
Fully compatible with other tools in the CVET ecosystem.
Future Development Plans:
Advanced density quality assessment
Integration with Candle Body Power and candle classification system
Combined analysis of series strength using body size, range, and internal structure
This will allow the creation of a comprehensive candle density evaluation system in upcoming versions.
An excellent and highly useful indicator! It beautifully highlights candle streaks and market momentum while smartly filtering out chart noise. The visuals are very clean, and the counter-trend signals are a great bonus for price action trading. Thank you for sharing this fantastic free tool!