Next Candle Price Prediction FAJ

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next candle price prediction


Previous Day Data:

prevHigh, prevLow, and prevClose are calculated to capture the high, low, and close of the previous day. This is used to understand the previous day's price range and sentiment.
ATR Calculation:

The Average True Range (ATR) is a measure of volatility. We use it to estimate how much the price might move up or down from the previous close.
Predicted High and Low:

Using the previous close plus and minus the ATR value gives a range where the price might reach.
Predicted Target Price:

The script calculates a simple midpoint of the previous day's range to predict the target price for the next candle. This midpoint serves as a basic prediction, assuming price might oscillate within the previous day's range.
Plotting:

The script plots the predicted high, low, and target price as well as the previous day's high, low, and close for context.