OPEN-SOURCE SCRIPT
Bull vs Bear Candle Count
Bull vs Bear Candle Count
Bull vs Bear Candle Count is a market participation and directional bias indicator designed to measure whether buyers or sellers have been dominating recent price action.
Instead of relying on traditional moving averages or oscillators, this indicator simply analyzes the number of bullish and bearish candles over a customizable lookback period to determine whether the market environment is currently Bullish, Bearish, or Balanced. Based on the candle distribution, the indicator calculates net directional pressure and visually highlights shifts in market conditions.
Features:
• Customizable lookback period
• Bullish, Bearish, and Balanced market state detection
• Net Bias histogram for directional strength visualization
• Bull % and Bear % comparison lines
• Adjustable balanced threshold sensitivity
• Optional background highlighting based on market state
• State transition markers for environment changes
• Summary table displaying:
Bull count
Bear count
Doji count
Bull percentage
Current market state
Alerts Included:
• Bullish State Shift
• Bearish State Shift
• Balanced State Shift
Potential use cases:
• Identify directional market pressure
• Filter trades based on overall market environment
• Confirm trend continuation or weakening momentum
• Spot transitions between trending and balanced conditions
• Add confluence to existing strategies and systems
Interpretation:
Bullish
Bullish candles are dominating the selected lookback period
Bearish
Bearish candles are dominating the selected lookback period
Balanced
Bull and bear participation are relatively equal, potentially indicating consolidation or indecision
Bull vs Bear Candle Count is intended as a simple way to visualize market participation and directional behavior without introducing excessive complexity.
About TrendGenY Indicators
TrendGenY indicators are built from market experience, creative concepts, and a constant pursuit of unique perspectives. Rather than following conventional ideas, the focus is on uncovering alternative insights and viewing market behavior through different angles to bring greater clarity, deeper understanding, and help traders develop a more meaningful edge in the market.
Bull vs Bear Candle Count is a market participation and directional bias indicator designed to measure whether buyers or sellers have been dominating recent price action.
Instead of relying on traditional moving averages or oscillators, this indicator simply analyzes the number of bullish and bearish candles over a customizable lookback period to determine whether the market environment is currently Bullish, Bearish, or Balanced. Based on the candle distribution, the indicator calculates net directional pressure and visually highlights shifts in market conditions.
Features:
• Customizable lookback period
• Bullish, Bearish, and Balanced market state detection
• Net Bias histogram for directional strength visualization
• Bull % and Bear % comparison lines
• Adjustable balanced threshold sensitivity
• Optional background highlighting based on market state
• State transition markers for environment changes
• Summary table displaying:
Bull count
Bear count
Doji count
Bull percentage
Current market state
Alerts Included:
• Bullish State Shift
• Bearish State Shift
• Balanced State Shift
Potential use cases:
• Identify directional market pressure
• Filter trades based on overall market environment
• Confirm trend continuation or weakening momentum
• Spot transitions between trending and balanced conditions
• Add confluence to existing strategies and systems
Interpretation:
Bullish
Bullish candles are dominating the selected lookback period
Bearish
Bearish candles are dominating the selected lookback period
Balanced
Bull and bear participation are relatively equal, potentially indicating consolidation or indecision
Bull vs Bear Candle Count is intended as a simple way to visualize market participation and directional behavior without introducing excessive complexity.
About TrendGenY Indicators
TrendGenY indicators are built from market experience, creative concepts, and a constant pursuit of unique perspectives. Rather than following conventional ideas, the focus is on uncovering alternative insights and viewing market behavior through different angles to bring greater clarity, deeper understanding, and help traders develop a more meaningful edge in the market.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.