16 April, 2017

Order Flow Reversal Candles

Rationale & Trading Techniques

 

While price alone is a lagging indicator, various candlestick chart patterns are popularly used to identify potential reversals. Order Flow Reversal Candles apply analysis of traded volume to the Hammer, Shooting Star, Gravestone and Dragonfly candlestick patterns to determine whether order flow traded volume supports the price action displayed within the candlestick.


Examples


Order Flow Reversal Candles Settings


 

Input Name Description
Imbalance % The percentage level used for diagonal bid/ask volume imbalance calculations.

Display Offset (Ticks) Specifies the indicator’s display position above/below the current bar.

 


Indicator Subgraphs

ID Subgraph Description
SG1 Candle Reversal Indicator The indicator drawn above/below a potential reversal candle.
SG2 Candle Reversal Condition Evaluates to -1, when a potential sell reversal occurs, 1 when a potential buy reversal occurs, 0 otherwise.