OPEN-SOURCE SCRIPT
Ghost Candle with Shadow Rail Px
Ghost Candle with Shadow Rail draws smoothed "ghost" candles beside your real price and pairs them with an adaptive trailing line called the Shadow Rail. It marks where a new buy or sell trend starts.
What's inside
1. Ghost Candles
*Double-smoothed Heikin Ashi-style candles drawn next to the real candles, so the noise is filtered out and the trend is easier to read.
*They sit below price in an uptrend and above it in a downtrend.
*You can set the gap between them and price, force them above or below, and choose how smoothly they glide across when the trend flips.
*A soft glow (halo) surrounds them. It gets brighter when the trend is clean and fades when the market is choppy.
2. Shadow Rail
*An adaptive trailing line that sits under price in an uptrend and over it in a downtrend.
It adjusts to volatility, how clean the move is, and buying versus selling volume.
*When price closes through the rail, the trend flips
3. Buy Start / Sell Start labels
A green BUY START label appears where a new uptrend begins, and a red SELL START label where a new downtrend begins.
4. Optional filters
*Higher Timeframe filter: Only confirms buys when the higher timeframe is above its EMA, and sells when it is below. Flips that disagree get no label.
*Minimum Trend Quality %: Skips flips that happen in choppy conditions.
*A flip can change while the current candle is still open, so wait for the candle to close before treating a label as final.
*This is a trend-reading tool.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
ChartTrader-X
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
ChartTrader-X
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.