Determine the size of a candle vs average candle size?

[lee-I-O=coke-A]

Is there a way to determine the size of a candle, example the candle might be 10x the size of majority candles

I don't know if there is additional info needed.

Your help would be deeply appreciated

 

[thinkandthink]

@Andygray8 You can also try this code:

# Big Candles
# Assembled by BenTen at UseThinkScript.com
# Converted from https://www.tradingview.com/script/e2fWFUIo-Big-Candles-v1/

input barHeight = 5;

def bigUp = close > open and high-low > barHeight;
def bigDown = close < open and high-low > barHeight;

plot upCandle = bigUp;
upCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upCandle.SetLineWeight(1);
upCandle.AssignValueColor(COLOR.CYAN);
plot downCandle = bigDown;
downCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
downCandle.SetLineWeight(1);
downCandle.AssignValueColor(COLOR.MAGENTA);

Very cool @BenTen , how can you use this in the scanner so it shows the stocks with those long candles in last X amount of candles or something like that? Any idea?

 

[thinkandthink]

@Andygray8 I haven't looked at this code in a long time, but here goes:

declare upper;

input ThresholdMult = 3;
input LookbackLength = 10;

def AverageOverRange = SimpleMovingAvg(price = (high[1] - low[1]), length = lookbackLength);

def CurrentRange = high - low;

def tallCandle = if CurrentRange >= (AverageOverRange * ThresholdMult) then 1 else double.nan;

plot TallUpCandle = if tallCandle and Close > Open then 1 else double.nan;
TallUpCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

plot TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
TallDnCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

Happy Trading,
Mashume

@mashume great code any idea how this code can be used in a scan to scan for example an x amount off candles on the chart , when I use init now it seems to only check the last candle stick on the chart , is there a way to scans for big candles in the last x amount of candles including after-hours and premarket ? Thanks for any help Im new to all this but its fun

 

[mashume]

perhaps this:

input bars_to_look_back = 3;
def TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
plot scan_result = if TallNdCandle == 1 within bars_to_look_back bars then 1 else double.nan;

But i'm not sure.

-mashume

 

[thinkandthink]

input bars_to_look_back = 3; def TallDnCandle = if tallCandle and Close < Open then 1 else double.nan; plot scan_result = if TallNdCandle == 1 within bars_to_look_back bars then 1 else double.nan;

HI @mashume thanks for your reaction! Im really new to this so what I did was I took the code you wrote and placed it under the other code like below, but that gives some errors when I add a custom study in the scan. Any idea how I should place it? Thanks for any help

declare upper;

input ThresholdMult = 3;
input LookbackLength = 10;

def AverageOverRange = SimpleMovingAvg(price = (high[1] - low[1]), length = lookbackLength);

def CurrentRange = high - low;

def tallCandle = if CurrentRange >= (AverageOverRange * ThresholdMult) then 1 else double.nan;

plot TallUpCandle = if tallCandle and Close > Open then 1 else double.nan;
TallUpCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

plot TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
TallDnCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

input bars_to_look_back = 3;
def TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
plot scan_result = if TallNdCandle == 1 within bars_to_look_back bars then 1 else double.nan;

 

[mashume]

@thinkandthink
I believe you're only allowed one plot in a scan script... others may know better (I don't use scans)

declare upper;

input ThresholdMult = 3;
input LookbackLength = 10;

def AverageOverRange = SimpleMovingAvg(price = (high[1] - low[1]), length = lookbackLength);

def CurrentRange = high - low;

def tallCandle = if CurrentRange >= (AverageOverRange * ThresholdMult) then 1 else double.nan;

# plot TallUpCandle = if tallCandle and Close > Open then 1 else double.nan;
# TallUpCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);

# plot TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
# TallDnCandle.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

input bars_to_look_back = 3;
def TallDnCandle = if tallCandle and Close < Open then 1 else double.nan;
plot scan_result = if TallNdCandle == 1 within bars_to_look_back bars then 1 else double.nan;

All I've done is comment out the extra two plot calls and the associated graphics settings for them (since you can't have that for a def statement.

I think this should be ok now, though it's Sunday and I won't start up ToS until just before globex hours begin for futures @3 pacific. Gotta stay sane.

-mashume