CapitalX Candle Strength
- Indicators
- Version: 1.0
Most candles say very little. A few say a great deal. Candle Strength makes
the difference visible without you measuring anything.
It colours every candle by how much of its move is body relative to
current volatility:
strength = |close - open| / ATR
A candle with a large body relative to ATR is a committed move: one side took
control and held it into the close. A candle with a small body is indecision,
no matter how far the wicks travelled.
How to read it
- Blue - strong bullish candle, body at or above your threshold
- Red - strong bearish candle
- Grey - weak candle, body below the threshold
A panel in the corner shows the exact reading for the last closed candle, so
you can see the number rather than guess from the colour.
What it is for
- Separating genuine breakouts from probes
- Judging whether a move into a level was committed or hesitant
- Filtering your own entries: many traders find that acting only on decisive candles cuts the number of trades sharply without cutting results
- Learning to read conviction rather than direction alone
Notes
Works on any symbol and any timeframe. The panel reports the last closed
candle only - a forming candle's body changes until it closes, so a live
reading would be misleading.
This is a reading, not a signal. It does not tell you when to buy or sell, and
it makes no claim about future prices. Use it alongside your own method.
Free, with no limitations.
