An analytical tool measuring bullish and bearish market sentiments by calculating percentages of positive and negative candle bodies over a specified period.
Explore complementary indicator rolesHow it works
The script analyzes a user-defined number of historical price candles to determine market sentiment through candle body calculations. It identifies bullish candles where closing prices are higher than opening prices and bearish candles where closing prices are lower than opening prices.
By measuring the total length of bullish and bearish candle bodies within the selected range, the script computes percentage representations of market dynamics. These percentages are then displayed in a table format, providing traders with a clear visual summary of recent price movement trends and momentum.
Why it may be useful
Understanding market sentiment is crucial for making informed trading decisions and developing effective strategies. This tool offers traders a quantitative method to assess the balance between buying and selling pressures within a specific timeframe.
By revealing the proportion of bullish versus bearish price movements, traders can gain insights into potential trend strengths, momentum shifts, and overall market psychology. The percentage-based approach provides a more nuanced view of market dynamics beyond simple price action analysis.
When to explore it
This signal is most effective during periods of market uncertainty or when traders need a quick sentiment assessment across different timeframes. It works particularly well for analyzing short to medium-term market trends, helping traders identify potential momentum changes.
Traders can utilize this tool during volatile market conditions, when transitioning between different trading sessions, or when seeking to confirm potential trend reversals. It is especially valuable for those who prefer data-driven approaches to market analysis and want a clear, visual representation of recent price movement sentiments.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
