Gain and Loss Labels for Candlestick Moves Above a Threshold
Summary
The GainLossInfo indicator labels candlesticks whose price changes exceed user-set thresholds. It displays qualifying moves in both percentages and broker points, with separate colors for gains and losses. Users can choose whether each change is measured from the current bar’s Open or the previous bar’s Close to the current Close, and can adjust label placement and the number of bars processed.
The document presents the tool mainly as an aid for market analysis and for spotting unusually large bullish or bearish candles, rather than as a dependable signal generator. It suggests that traders might experiment with large changes as entry or exit signals, but provides no testing, performance results, or risk controls. Increasing the processed-bar limit slows the indicator, according to the description.
Key ideas
- The indicator displays candle changes that exceed percentage or point thresholds.
- It can measure changes from the current Open or the previous Close.
- Users can configure gain and loss colors, label placement, and the number of bars processed.
- The document frames the tool as an analysis aid and supplies no evidence for profitable signals.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.