OPEN-SOURCE SCRIPT
SHK Adaptive Candle Price Strength
# SHK Adaptive Candle Price Strength (SHK ACPS)
**SHK Adaptive Candle Price Strength (SHK ACPS)** is a price-action strength indicator designed to estimate the strength of each price bar using its available price structure.
The indicator produces a simple **0–100 strength value** directly below the price, allowing traders to quickly evaluate whether the current price movement has relatively strong or weak momentum.
## How It Works
SHK ACPS analyzes the relationship between:
- Open
- High
- Low
- Close
- Candle body
- Upper wick
- Lower wick
- Recent price movement
- ATR-based volatility
The result is converted into a **0–100 strength scale**.
### Strength Scale
**0–20:** Very weak price strength
**20–40:** Weak
**40–60:** Moderate
**60–80:** Strong
**80–100:** Very strong
The number is displayed below the corresponding price area.
## Green and Red Strength
The indicator uses color instead of displaying unnecessary BUY/SELL text.
🟢 **Green** = bullish price strength
🔴 **Red** = bearish price strength
⚪ **Gray** = neutral or flat movement
The strength value and its color can therefore be read together.
For example:
**85 in green** → very strong bullish price movement
**72 in red** → strong bearish price movement
**28 in green** → weak bullish movement
**18 in red** → weak bearish movement
## Candle Structure Analysis
When meaningful OHLC structure is available, the indicator evaluates the candle body relative to the complete candle range.
A larger body relative to the total range generally indicates stronger directional participation.
The indicator also considers wick pressure.
For bullish candles:
- Larger lower wick can contribute positively.
- Larger upper wick can reduce bullish strength.
For bearish candles:
- Larger upper wick can contribute positively.
- Larger lower wick can reduce bearish strength.
This allows the strength value to consider more than simply whether the candle closed higher or lower.
## Adaptive Price-Movement Analysis
For price representations where traditional candle body/wick information is not meaningful, the indicator can use **close-to-close price movement relative to ATR**.
ATR provides a volatility reference.
A larger price movement relative to recent volatility produces a higher movement-strength reading, while a smaller movement produces a lower reading.
This makes the indicator useful across different chart representations, including:
- Candles
- Hollow Candles
- Heikin Ashi
- Line
- Step Line
## Current Candle
The strength value is designed to update with the **current developing price bar**.
This means the displayed number can change while the current candle is forming.
For example, a candle may begin with:
**35 → 48 → 67 → 82**
as price movement develops.
Therefore, the current value should be treated as a **live strength reading**, not a fixed value until the bar closes.
## ATR-Based Positioning
The strength value is positioned below the price using ATR rather than a fixed number of ticks.
This allows the distance to adapt to the instrument's volatility.
The result is more practical across instruments with different price scales.
## Optional Strength Bar
An optional strength-bar calculation is included in the script.
It can be enabled from the indicator settings if a visual strength representation is desired.
## Important Interpretation
SHK ACPS is a **strength measurement tool**, not a standalone trading system.
A high green value does not automatically mean that price must continue upward.
Likewise, a high red value does not guarantee that price will continue downward.
Strength can increase near the end of a move, during breakouts, or during volatile reversals.
For better decision-making, traders may combine the indicator with:
- Market structure
- Support and resistance
- Trend direction
- Moving averages
- Volume
- Momentum indicators
- Breakout confirmation
- Higher-timeframe analysis
## Example Usage
A trader may observe:
**Green 80–100**
This indicates strong bullish price structure or movement.
If this occurs together with a confirmed breakout and supportive market structure, it may indicate stronger bullish participation.
Similarly:
**Red 80–100**
indicates strong bearish price structure or movement.
When combined with a confirmed breakdown or bearish market structure, it may provide additional confirmation.
Lower readings can indicate that price movement is relatively weak and may warrant more caution.
## Designed for Simple Visual Reading
The main philosophy of SHK ACPS is simplicity.
Instead of filling the chart with multiple signals, arrows, or BUY/SELL labels, the indicator provides:
**One number + one color**
This allows the trader to visually judge the relative strength of the current price movement without adding excessive chart clutter.
### Quick Reference
| Color | Strength | General Interpretation |
|---|---:|---|
| 🟢 Green | 80–100 | Very strong bullish |
| 🟢 Green | 60–79 | Strong bullish |
| 🟢 Green | 40–59 | Moderate bullish |
| 🟢 Green | 0–39 | Weak bullish |
| 🔴 Red | 80–100 | Very strong bearish |
| 🔴 Red | 60–79 | Strong bearish |
| 🔴 Red | 40–59 | Moderate bearish |
| 🔴 Red | 0–39 | Weak bearish |
**SHK Adaptive Candle Price Strength (SHK ACPS)** is intended to give traders a clean, adaptive view of price strength while keeping the chart visually simple.
**SHK Adaptive Candle Price Strength (SHK ACPS)** is a price-action strength indicator designed to estimate the strength of each price bar using its available price structure.
The indicator produces a simple **0–100 strength value** directly below the price, allowing traders to quickly evaluate whether the current price movement has relatively strong or weak momentum.
## How It Works
SHK ACPS analyzes the relationship between:
- Open
- High
- Low
- Close
- Candle body
- Upper wick
- Lower wick
- Recent price movement
- ATR-based volatility
The result is converted into a **0–100 strength scale**.
### Strength Scale
**0–20:** Very weak price strength
**20–40:** Weak
**40–60:** Moderate
**60–80:** Strong
**80–100:** Very strong
The number is displayed below the corresponding price area.
## Green and Red Strength
The indicator uses color instead of displaying unnecessary BUY/SELL text.
🟢 **Green** = bullish price strength
🔴 **Red** = bearish price strength
⚪ **Gray** = neutral or flat movement
The strength value and its color can therefore be read together.
For example:
**85 in green** → very strong bullish price movement
**72 in red** → strong bearish price movement
**28 in green** → weak bullish movement
**18 in red** → weak bearish movement
## Candle Structure Analysis
When meaningful OHLC structure is available, the indicator evaluates the candle body relative to the complete candle range.
A larger body relative to the total range generally indicates stronger directional participation.
The indicator also considers wick pressure.
For bullish candles:
- Larger lower wick can contribute positively.
- Larger upper wick can reduce bullish strength.
For bearish candles:
- Larger upper wick can contribute positively.
- Larger lower wick can reduce bearish strength.
This allows the strength value to consider more than simply whether the candle closed higher or lower.
## Adaptive Price-Movement Analysis
For price representations where traditional candle body/wick information is not meaningful, the indicator can use **close-to-close price movement relative to ATR**.
ATR provides a volatility reference.
A larger price movement relative to recent volatility produces a higher movement-strength reading, while a smaller movement produces a lower reading.
This makes the indicator useful across different chart representations, including:
- Candles
- Hollow Candles
- Heikin Ashi
- Line
- Step Line
## Current Candle
The strength value is designed to update with the **current developing price bar**.
This means the displayed number can change while the current candle is forming.
For example, a candle may begin with:
**35 → 48 → 67 → 82**
as price movement develops.
Therefore, the current value should be treated as a **live strength reading**, not a fixed value until the bar closes.
## ATR-Based Positioning
The strength value is positioned below the price using ATR rather than a fixed number of ticks.
This allows the distance to adapt to the instrument's volatility.
The result is more practical across instruments with different price scales.
## Optional Strength Bar
An optional strength-bar calculation is included in the script.
It can be enabled from the indicator settings if a visual strength representation is desired.
## Important Interpretation
SHK ACPS is a **strength measurement tool**, not a standalone trading system.
A high green value does not automatically mean that price must continue upward.
Likewise, a high red value does not guarantee that price will continue downward.
Strength can increase near the end of a move, during breakouts, or during volatile reversals.
For better decision-making, traders may combine the indicator with:
- Market structure
- Support and resistance
- Trend direction
- Moving averages
- Volume
- Momentum indicators
- Breakout confirmation
- Higher-timeframe analysis
## Example Usage
A trader may observe:
**Green 80–100**
This indicates strong bullish price structure or movement.
If this occurs together with a confirmed breakout and supportive market structure, it may indicate stronger bullish participation.
Similarly:
**Red 80–100**
indicates strong bearish price structure or movement.
When combined with a confirmed breakdown or bearish market structure, it may provide additional confirmation.
Lower readings can indicate that price movement is relatively weak and may warrant more caution.
## Designed for Simple Visual Reading
The main philosophy of SHK ACPS is simplicity.
Instead of filling the chart with multiple signals, arrows, or BUY/SELL labels, the indicator provides:
**One number + one color**
This allows the trader to visually judge the relative strength of the current price movement without adding excessive chart clutter.
### Quick Reference
| Color | Strength | General Interpretation |
|---|---:|---|
| 🟢 Green | 80–100 | Very strong bullish |
| 🟢 Green | 60–79 | Strong bullish |
| 🟢 Green | 40–59 | Moderate bullish |
| 🟢 Green | 0–39 | Weak bullish |
| 🔴 Red | 80–100 | Very strong bearish |
| 🔴 Red | 60–79 | Strong bearish |
| 🔴 Red | 40–59 | Moderate bearish |
| 🔴 Red | 0–39 | Weak bearish |
**SHK Adaptive Candle Price Strength (SHK ACPS)** is intended to give traders a clean, adaptive view of price strength while keeping the chart visually simple.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.