OPEN-SOURCE SCRIPT
RSI Candle Colorer
WHAT IT DOES
Paints the candle itself when a classic reversal pattern fires with confirmation. Seven patterns are watched — bullish and bearish engulfing, hammer, shooting star, piercing line, dark cloud cover, harami, and harami cross — and a raw pattern alone is never enough. It must also agree with momentum (RSI position), participation (volume against its own average), and location (price versus a short trend EMA). All three must line up, or the candle stays unpainted. Most candles stay unpainted. That is the point.
HOW IT WORKS
- Bullish patterns only qualify when RSI is at or below your bullish threshold (default 40), volume is at least the 20-bar average, and the prior bar closed below the trend EMA — you are buying a dip, not chasing a top.
- Bearish patterns mirror it: RSI at or above 60, real volume, prior bar above the EMA.
- A confirmed pattern paints the bar green or red, prints a small label naming the pattern, and can fire an alert.
- Signals confirm on bar close by default — no repaint. A minimum-spacing setting stops clusters from stacking labels on top of each other.
HOW TO USE IT
Works on any symbol and any timeframe. Treat it as a bias and timing lens: when a painted candle appears at a level you already care about, you have pattern, momentum, and volume agreeing at the same moment. It pairs naturally with support and resistance or higher-timeframe structure.
WHAT IT CAN'T DO
It reads candles and momentum, not context. It does not know news is coming, and it will occasionally paint a perfect-looking candle right before the market disagrees. It is a filter for your eyes, not an autopilot.
SETTINGS
Pattern toggles for all seven, EMA length (9), RSI length (14) with bull/bear thresholds (40/60), volume lookback (20) and multiplier (1.0), minimum bars between signals (5), confirm-on-close (on).
Open source. Free. If it helps you read the tape faster, that's the job.
Paints the candle itself when a classic reversal pattern fires with confirmation. Seven patterns are watched — bullish and bearish engulfing, hammer, shooting star, piercing line, dark cloud cover, harami, and harami cross — and a raw pattern alone is never enough. It must also agree with momentum (RSI position), participation (volume against its own average), and location (price versus a short trend EMA). All three must line up, or the candle stays unpainted. Most candles stay unpainted. That is the point.
HOW IT WORKS
- Bullish patterns only qualify when RSI is at or below your bullish threshold (default 40), volume is at least the 20-bar average, and the prior bar closed below the trend EMA — you are buying a dip, not chasing a top.
- Bearish patterns mirror it: RSI at or above 60, real volume, prior bar above the EMA.
- A confirmed pattern paints the bar green or red, prints a small label naming the pattern, and can fire an alert.
- Signals confirm on bar close by default — no repaint. A minimum-spacing setting stops clusters from stacking labels on top of each other.
HOW TO USE IT
Works on any symbol and any timeframe. Treat it as a bias and timing lens: when a painted candle appears at a level you already care about, you have pattern, momentum, and volume agreeing at the same moment. It pairs naturally with support and resistance or higher-timeframe structure.
WHAT IT CAN'T DO
It reads candles and momentum, not context. It does not know news is coming, and it will occasionally paint a perfect-looking candle right before the market disagrees. It is a filter for your eyes, not an autopilot.
SETTINGS
Pattern toggles for all seven, EMA length (9), RSI length (14) with bull/bear thresholds (40/60), volume lookback (20) and multiplier (1.0), minimum bars between signals (5), confirm-on-close (on).
Open source. Free. If it helps you read the tape faster, that's the job.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.