Displaying Higher-Timeframe Candles on a Lower-Timeframe Chart
Summary
This TradingView indicator draws candles from a selectable higher timeframe while leaving the chart on its current timeframe. It keeps open, high, low, and close values for recent candles, updating the current candle’s high, low, and close as new chart bars arrive. The candles are drawn from line segments, with configurable colors for rising and falling bodies, wick color, and body width.
The inputs allow the user to choose the timeframe and display between one and ten candles. The description highlights viewing weekly candles on an hourly chart as an example. The script’s release history describes revisions to candle count, display placement, and handling candles whose open and close match. It is a visualization aid; the document provides no trading rules, performance evidence, or guidance on interpreting the candles, and its behavior depends on the selected timeframe and chart data.
Key ideas
- The indicator overlays candles from a selected timeframe without changing the chart timeframe.
- It updates the active higher-timeframe candle’s high, low, and close as chart bars arrive.
- Users can configure the number of displayed candles and the colors and width of candle components.
- The document describes display behavior but gives no evidence that the candles produce trading signals or improve performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.