OPEN-SOURCE SCRIPT
Vesper Candle Index [JOAT]
Vesper Candle Index [JOAT]
Introduction
Vesper Candle Index is an open-source candlestick classification engine. Instead of marking every common candle pattern equally, it scores candle patterns using body quality, wick structure, trend location, volatility, and nearby structure context.
The indicator is designed to reduce pattern noise by ranking candle events and displaying only those that meet a configurable quality threshold.
Core Concepts
1. Candle Pattern Library
The script evaluates multiple candlestick states, including engulfing candles, hammers, stars, harami, inside breaks, marubozu, tweezers, rail patterns, and reclaim/reject conditions.
2. Quality Scoring
Each candidate pattern receives a score based on candle body, wick placement, trend context, volatility, and structure alignment.
3. Structure Context
Confirmed pivot levels are used to detect CHoCH-style breaks and candle reactions near recent structure.
4. Trade Projection Labels
When a candle state qualifies, the script can display compact educational entry, stop, TP1, and TP2 information.
5. Dashboard
The dashboard shows the current candle state, quality bucket, trend, structure, and recent signal context.
Features
Input Parameters
How to Use This Indicator
Step 1: Focus on high-quality states
Use the quality score to separate strong candle states from weaker pattern appearances.
Step 2: Check structure alignment
Candle events near relevant structure are often more meaningful than isolated patterns.
Step 3: Avoid treating patterns as certainty
Candlestick patterns describe current bar behavior. They do not predict continuation or reversal.
Indicator Limitations
Originality Statement
Vesper Candle Index adds scoring, structure context, volatility normalization, cooldown behavior, and a dashboard to candlestick analysis. Its value is in ranking candle quality rather than simply labeling every pattern.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice. Candlestick patterns can be misleading when used alone.
-Made with passion by jackofalltrades
Introduction
Vesper Candle Index is an open-source candlestick classification engine. Instead of marking every common candle pattern equally, it scores candle patterns using body quality, wick structure, trend location, volatility, and nearby structure context.
The indicator is designed to reduce pattern noise by ranking candle events and displaying only those that meet a configurable quality threshold.
Core Concepts
1. Candle Pattern Library
The script evaluates multiple candlestick states, including engulfing candles, hammers, stars, harami, inside breaks, marubozu, tweezers, rail patterns, and reclaim/reject conditions.
2. Quality Scoring
Each candidate pattern receives a score based on candle body, wick placement, trend context, volatility, and structure alignment.
3. Structure Context
Confirmed pivot levels are used to detect CHoCH-style breaks and candle reactions near recent structure.
4. Trade Projection Labels
When a candle state qualifies, the script can display compact educational entry, stop, TP1, and TP2 information.
5. Dashboard
The dashboard shows the current candle state, quality bucket, trend, structure, and recent signal context.
Features
- Ranked candle states: Patterns are scored rather than treated equally
- Structure-aware candles: Uses pivots and CHoCH context
- Volatility-adjusted logic: ATR helps normalize wick and body requirements
- Cooldown control: Reduces repeated pattern labels
- Compact dashboard: Summarizes the highest-ranked current candle state
- Confirmed patterns: Pattern events use confirmed bars
Input Parameters
- Pattern sensitivity controls the quality threshold
- Pivot length controls structure confirmation
- ATR settings control wick/body normalization
- Rail projection settings control optional visual projection length
How to Use This Indicator
Step 1: Focus on high-quality states
Use the quality score to separate strong candle states from weaker pattern appearances.
Step 2: Check structure alignment
Candle events near relevant structure are often more meaningful than isolated patterns.
Step 3: Avoid treating patterns as certainty
Candlestick patterns describe current bar behavior. They do not predict continuation or reversal.
Indicator Limitations
- Candle patterns can fail in strong trend or news conditions
- Pivot-based structure is delayed by the selected pivot length
- The script classifies candles; it does not forecast future direction
Originality Statement
Vesper Candle Index adds scoring, structure context, volatility normalization, cooldown behavior, and a dashboard to candlestick analysis. Its value is in ranking candle quality rather than simply labeling every pattern.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice. Candlestick patterns can be misleading when used alone.
-Made with passion by jackofalltrades
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
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כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.