OPEN-SOURCE SCRIPT
Next Candle Predictor V4.1
## Next Candle Predictor V4.1 — Terminology and Presentation Update
This update improves the clarity of the indicator's terminology and on-chart presentation while preserving its existing calculation framework, weighting structure, visual layout, and signal conditions.
### Changes
- Renamed displayed “Prediction” values to “Directional Score”.
- Replaced “Perfect Time” with “Strong Setup”.
- Renamed the volume-derived component to “Estimated Volume Pressure”.
- Renamed projection visuals to “Directional Scenario Candles”.
- Updated dashboard labels and alert messages for clearer interpretation.
- Removed performance-target wording.
- Added author attribution: Developed by Ceyhun C. Canbazoglu.
### Score Interpretation
The displayed long and short percentages are normalized directional confluence scores derived from the indicator’s rule-based components.
They are not statistical probabilities, expected win rates, guarantees, or forecasts of the next candle’s result.
### Estimated Volume Pressure
Estimated Volume Pressure uses OHLCV data and the closing price’s position within the candle range to estimate directional pressure.
It is not exchange-level bid/ask volume delta or actual aggressive buying and selling volume.
### Directional Scenario Candles
The optional scenario candles are volatility-scaled visualizations based on the indicator’s current directional scores.
They do not forecast the next candle’s exact open, high, low, close, direction, or price target.
### Core Framework
The existing multi-factor framework remains unchanged and continues to evaluate:
- trend direction,
- EMA alignment,
- MACD momentum,
- RSI position,
- Stochastic conditions,
- ADX trend strength,
- relative volume,
- estimated volume pressure,
- and volatility regime.
This indicator is intended as a technical-analysis and decision-support tool. It does not provide financial advice or guarantee trading results.
This update improves the clarity of the indicator's terminology and on-chart presentation while preserving its existing calculation framework, weighting structure, visual layout, and signal conditions.
### Changes
- Renamed displayed “Prediction” values to “Directional Score”.
- Replaced “Perfect Time” with “Strong Setup”.
- Renamed the volume-derived component to “Estimated Volume Pressure”.
- Renamed projection visuals to “Directional Scenario Candles”.
- Updated dashboard labels and alert messages for clearer interpretation.
- Removed performance-target wording.
- Added author attribution: Developed by Ceyhun C. Canbazoglu.
### Score Interpretation
The displayed long and short percentages are normalized directional confluence scores derived from the indicator’s rule-based components.
They are not statistical probabilities, expected win rates, guarantees, or forecasts of the next candle’s result.
### Estimated Volume Pressure
Estimated Volume Pressure uses OHLCV data and the closing price’s position within the candle range to estimate directional pressure.
It is not exchange-level bid/ask volume delta or actual aggressive buying and selling volume.
### Directional Scenario Candles
The optional scenario candles are volatility-scaled visualizations based on the indicator’s current directional scores.
They do not forecast the next candle’s exact open, high, low, close, direction, or price target.
### Core Framework
The existing multi-factor framework remains unchanged and continues to evaluate:
- trend direction,
- EMA alignment,
- MACD momentum,
- RSI position,
- Stochastic conditions,
- ADX trend strength,
- relative volume,
- estimated volume pressure,
- and volatility regime.
This indicator is intended as a technical-analysis and decision-support tool. It does not provide financial advice or guarantee trading results.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.