OPEN-SOURCE SCRIPT

3 Candle Manipulation

240
3 CANDLE MANIPULATION

This indicator looks for:

GREEN → RED → GREEN
or
RED → GREEN → RED

The middle candle represents a temporary change in control.

The 3rd candle shows the original side taking control back.

GREEN → RED → GREEN
= Possible failed seller takeover
= Green arrow below Candle 3

RED → GREEN → RED
= Possible failed buyer takeover
= Red arrow above Candle 3

OPTIONAL VOLUME FILTER:

When ON:
Candle 3 must have higher volume than Candle 2.

When OFF:
Volume is ignored.

Simple idea:

Candle 2 = ATTEMPT
Candle 3 = REJECTION

The pattern can help identify possible traps, rejection, failed reversals, and quick shifts in market control.

Penafian

Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.