This indicator, called "Open-Close Upward Difference Marker", is designed to help traders quickly spot candles where the price has moved up significantly within a certain percentage. It places a small green dot above any candle where the closing price is higher than the opening price (meaning the price went up) and the percentage difference between the open and close is greater than a set threshold.
Here’s how it works:
You can set a percentage threshold (e.g., 1%) using the input field. This threshold helps filter out small price changes, so the indicator only shows larger movements.
If the price increase from the open to the close is greater than the threshold, a small green dot will appear above the candle, letting you quickly identify upward price movements that meet your criteria.
It ignores downward price movements, so you’ll only see green dots for candles where the price has gone up.
This indicator is helpful for spotting upward trends and significant price increases, making it a simple visual aid for beginner traders.