Spinning top is a candlestick pattern that shows indecision in the market.
A few resources to help you learn more about this pattern:
It’s a small candlestick pattern. In this pattern, the stock prices open and close are near each other. This pattern forms when there’s indecision among the buyers and sellers in the uptrend, downtrend, or sideways trend. The pattern suggests a possible change in trend.
thinkScript Code
Code:
# Spinning Top Candlestick Pattern
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/LyNzdJVX-Spinning-Tops/
input stsize = 0.5;
def spinningtop = (open>close) and ((high-low)>(3*(open-close))and(((high-open)/(.001+high-low))< stsize)and (((close-low)/(.001+high-low))< stsize)) or (close>open) and ((high-low)>(3*(close-open))and(((high-close)/(.001+high-low))< stsize)and (((open-low)/(.001+high-low))< stsize));
assignPriceColor(if spinningtop then Color.CYAN else Color.WHITE);
A few resources to help you learn more about this pattern: