Candlestick Percentile Rank

This package is designed for quantitative traders who are looking for solutions to help them analyze candlesticks, people who are ready to study candlesticks and bars and their overall performance.

This script is designed to sample all available candles within a chosen time frame and provide a candlestick percentile rank to each candle. This can be used in multiple ways including as a measure of volatility. Candlestick theory points at the fact that candles/bars are important in predicting following price action. Candlesticks effect each others. The percentile rank is an effective way to observe and study these effects. The percentile rank shows you on a measuring stick from 0 to 100 how a candle ( body or full ) ranks compared to all other preceding candles in dollar value or in a percentage value.

A subscription to this packages gets you access to this script on TradingView which also includes all of its periodic updates.

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