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Candle Statistics | by beidou_123

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Script Description

Candle Statistics is a quantitative market analysis indicator that provides a structured statistical overview of recent price behavior using candlestick classification.

The script analyzes historical candles over four user-defined lookback periods and classifies each candle into one of three categories:

Bullish candles (close > open)

Bearish candles (close < open)

Doji candles, defined as candles whose real body is less than or equal to 10% of the total candle range

Key Features

  • Fully customizable lookback periods


Users can define four independent candle windows (e.g., 15, 60, 240, 480 bars).

  • Standardized Doji definition

A Doji is identified when the candle body is small relative to total price range, ensuring consistency across instruments and timeframes.

  • Directional dominance calculation

For each lookback period, the script computes the Bullish Percentage, defined as:

Bullish % = Bullish Candles ÷ (Bullish + Bearish Candles)

Doji candles are intentionally excluded from this calculation to avoid diluting directional bias.

  • Visual dominance highlighting


If Bullish % > 50%, the value is displayed using a user-defined bullish dominance color

If Bullish % ≤ 50%, the value is displayed using a user-defined bearish dominance color

  • On-chart statistics table

All results are presented in a compact, non-intrusive table displayed directly on the main chart.
Table position is fully configurable.

Intended Use

  • This indicator is designed for:


  • Market structure analysis


  • Trend bias evaluation


  • Volatility and indecision studies


  • Systematic filtering in discretionary or rule-based trading systems


It is not a signal generator, but a statistical context tool that helps traders assess whether recent price action is dominated by bullish pressure, bearish pressure, or indecision.

Disclaimer

This indicator is provided for educational and analytical purposes only and does not constitute financial or investment advice.
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