Marking Candlesticks That Exceed a Configured Size
Summary
This indicator scans chart candles and highlights those whose size exceeds a user-defined threshold measured in points. It can mark only the current candle or display qualifying candles across the chart. An optional alert notifies the user when the current candle crosses the threshold.
The document illustrates settings with examples using different size thresholds and combinations of current-bar display and alerts. It describes a charting utility rather than a complete trading strategy: it does not define an entry, exit, or position-sizing rule, and it provides no evidence that large candles predict future price moves. The threshold is expressed in points, so its practical meaning depends on the instrument and chart context. The alert concerns the still-forming current candle, whose size can change before it closes.
Key ideas
- The indicator highlights candles whose size exceeds a threshold set in points.
- Users can choose to mark only the current candle or show qualifying candles across the chart.
- An optional alert reports when the current candle exceeds the configured size.
- The document provides display examples but no evidence that candle size alone predicts returns.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.