A Candle-Pressure Trend Indicator with Smoothed Bands
Summary
This indicator estimates buying and selling pressure from candle bodies and wicks. It assigns values to bullish, bearish, and neutral candle configurations, then smooths the directional series with a Hull-style weighted average. The resulting upper and lower measures combine standard deviations over three lookback periods and are displayed as a cloud whose relative position indicates which side is stronger.
A separate force line is the midpoint of the two measures; its change is used to color the line. An accompanying price overlay adds directional candle signals based on the cloud comparison and candle direction, including an option to use Heikin-Ashi values. The supplied formulas and examples describe the construction, but do not specify a complete trading system or entry and exit rules.
No backtest, asset class, performance evidence, or parameter justification is provided. The code examples also appear to contain naming and logic inconsistencies, so the indicator's outputs should be checked before use.
Key ideas
- The indicator scores bullish, bearish, and neutral candles using their bodies and wicks.
- Smoothed directional values and volatility measures form separate buying and selling bands.
- The relative band positions represent which side has greater estimated pressure.
- A midpoint force line and price overlays provide additional directional cues.
- The document supplies no performance evidence, and its formulas may contain implementation inconsistencies.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.