A trading indicator that compares bullish and bearish candle scales, revealing which market side is currently dominant by analyzing price movement and calculating moving averages.
Explore complementary indicator rolesHow it works
The indicator calculates the scale of bullish and bearish candles by measuring the difference between open and close prices. It then computes moving averages for these scales using a customizable lookback period, typically set at 20 bars.
By tracking the moving averages of bullish and bearish candle sizes, the indicator determines which type of candles are currently dominating the market. The indicator plots two lines representing bullish and bearish candle scales, with a green line for bullish and a red line for bearish candle movements
Why it may be useful
This indicator provides traders with a visual and quantitative representation of market momentum and trend strength. By comparing the average scale of bullish and bearish candles, traders can quickly assess market sentiment and potential trend changes.
The color-coded display and real-time updates help traders make informed decisions about market direction. The indicator's ability to show dominance through moving averages allows for a more nuanced understanding of price action beyond simple trend identification
When to explore it
The indicator works best in markets with clear trending characteristics, such as stocks, forex, and cryptocurrencies. It is most effective during periods of sustained price movement, where candle sizes consistently reflect market sentiment.
Traders should use this indicator in conjunction with other technical analysis tools to confirm signals and reduce false positives. It is particularly useful for day traders and swing traders looking to identify potential trend reversals or continuation patterns
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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.
