Counting Bullish and Bearish Candles Across a Chart Interval

Summary

This indicator counts bullish and bearish candles between two chart bars. The starting bar is defined relative to the right edge of the chart, while the ending bar lies farther to the left. The example uses bars 0 and 5 to illustrate how the interval is set. The resulting counts summarize the balance of upward and downward candles over the selected span.

The document suggests applying the same settings across three timeframes, which could help compare candle direction across horizons. It does not explain how candle direction is classified in edge cases, provide trading rules for interpreting the counts, or present performance evidence. No thresholds, entry or exit conditions, or risk controls are described, so the indicator is a descriptive chart tool rather than a fully specified strategy. Its usefulness depends on how a trader defines and tests a signal derived from the counts.

Key ideas

• The indicator counts bullish and bearish candles between a user-selected starting bar and ending bar.
• Bar zero refers to the latest bar at the right edge of the chart.
• The example interval runs from bar zero through bar five.
• The author suggests comparing results across three timeframes with matching settings.
• No signal thresholds, trading rules, or performance evidence are provided.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.