Wide Range Body Candles Compared with the Prior Three Bars

Summary

The Wide Range Body indicator marks candles whose body is larger than the bodies of a configurable number of preceding candles. Its default comparison range is three bars. It distinguishes consecutive bullish candles, consecutive bearish candles, and consecutive candles regardless of direction, using different colored labels placed at specified candle prices.

The description gives the indicator’s comparison rule, configurable lookback, and label placement, but does not explain how to trade the signals or provide performance testing. It is therefore a visual pattern-marking tool rather than a complete strategy. The displayed labels can draw attention to unusually large candle bodies, but the document does not establish whether these patterns predict continuation, reversal, or profitable entries.

Key ideas

• The indicator identifies candles with bodies larger than those in a configurable number of prior candles.
• Its default comparison range is three preceding candles.
• It labels bullish runs, bearish runs, and runs containing candles of either direction separately.
• Labels use color and price placement to distinguish the detected candle sequences.
• The description provides no trading rules or evidence of predictive performance.

Tags

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