AndrologQuartile

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AndrologQuartile

This indicator is based on the assumption that if a candle closes in the upper or lower quartile of its range, the next candle often tends to take out the high or low of that candle.

The script does two things:

It calculates and displays live statistics on how often this condition occurs and how often it is successful.

It highlights candles that meet the quartile condition so you can track them in real time.

It is most meaningful to use this indicator on higher timeframes (from 1h upwards).

You can also set an alert: once configured, the alert will always trigger for the timeframe that was active at the moment of setup.

Usage tip:
Click the statistics panel in the top right corner to adjust settings and alerts.

Adjustable parameters:

Quartiles: Default values are 25% and 75%.

Min Distance: Defines how far the high/low must be from the candle’s close (in %) to be considered relevant. A smaller value is applied automatically on intraday timeframes under 5 minutes.

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Phát hành các Ghi chú

small correction for the last candle