cooltoyz: ghost candleThis is a tool. Do with it what you like :)
The ghost candle works by drawing a bigger time frame candles in ghost mode over a chart. The time frame is default of 4h, can be changed in the "format" pop-up.
What we see in a time frame as the "wick", is really a set of candles when looked at lower resolutions/timeframes, that info is crunched into the OHLC format. But, when we look at a represntation of the "internals" of a candle, the wicks are not just a single candle that "walked out of the reservation".
So, in this ghost mode, a wick makes no sense visually. In this case, the OHLC is represented as a darker area for the main candle body, and lighter zones for the wicks. Just another way to sing the same song...
Note 1: the ghost candles are skewed, due to the way that TV plots a line. It's most visible when a chart is very zoomed.
Note 2:As result of the TV real time engine, the last candle presents sometimes mixed colors. There's no easy way to fix it, so until the candle closes, if you see weird colors, well, that's life :)
Realtime
Realtime Volume Checker : reloadedthe main rules are in version 1.0 of this indicator, here: and they provide useful info to make sense of the indicator
two important improvements:
1 - the candle period is now provided in minutes
2 - the volume MA size does not make an average abymore, now IT CHOOSES the highest value in the range. this provides less, but more significant signals.
Real Time Volume checkerThis indicator was designed to work in real time, and needs the "calculate on every tick" turned on. It verifies if the volume from the current candle is increasing more or less than the average.
Example using 5 min. candles:
1 minute is 20% of the time for the candle. So, if the volume is at 20% or below of the vol.average, the market is stable(price not moving much). If at 1 minute(20% of time) volume is say, at 37%, a big move is happening.
The color of the candle shows the movement direction. A gray means the volume was not important, below average.
The historical candles show how much volume infuenced the price for the corresponding candle.
The current candle is working REAL TIME.
The blue line shows how much time has passed for the candle to complete. All candles are 100% complete(yeah, duh), except for the last one, the line touches zero at start of candle, and slowly fills up to1(1=100%)until the candle ends.
INPUTS:
vol MA size: sets the lenght of the volume average. set to your heard desires
candle Period: set to the number of seconds in the period you chose. 5min = 300, 1h = 3600 and so on. Must be correct, or the results turn into crap
Limit: the value below which the candle is a "non-important" candle. 1 = 100% of average
NOTE: in the very first seconds, the indicator goes crazy. it's expected, due to computed values very close to zero used in the math. after some seconds it stabilizes :)
