OPEN-SOURCE SCRIPT

Marubozu Tap Analysis

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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.

Penafian

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