OPEN-SOURCE SCRIPT
Marubozu Tap Analysis
Tracks Marubozu open candles where open = low of a bullish candle, and open = high of a bearish candle, and outputs a probability table for taps of that level. Price later returns to these "no-wick" candles at a high rate and can serve as a draw on liquidity. User settings allow you to specify the lookback window for a tap of the Marubozu open so you can see the probability of a return to the open within a window of time.
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.
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.
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.