TradersFriendCandles v2

TradersFriendCandles
A fully customizable candle‑color and banding indicator built on percentile + ATR, with optional EMA vs. ALMA trend filtering and higher‑timeframe support.

Key Features

Dynamic Percentile Center Line
Compute any Nth percentile over M bars (default 20th over 15) to serve as a reference “mid‑price” level.

ATR‑Based Bands
Envelope that percentile line with upper/lower bands at X × ATR (default 1×), plus an extended upper band at 3.5× ATR.

Higher‑Timeframe Mode
Plot bands based on a higher timeframe (e.g. daily bands on a 15m chart) so you can gauge macro support/resistance in micro timeframes.

Custom‑Color Candles
5 user‑editable colors for:

• Strong bullish
  
• Light bullish
  
• Neutral
  
• Light bearish
  
• Strong bearish
  

Optional EMA vs. ALMA Trend Filter
When enabled, candles simply turn “bull” or “bear” based on fast EMA crossing above/below slow ALMA.

Border‑Only Coloring
Keep candle bodies transparent and color only the border & wick.

Live Plot Labels & Track Price
All lines carry titles and can display current values directly on the price scale.

Alerts

• Strong Bull Breakout (price stays above upper band)
  
• Strong Bear Breakdown (price closes below lower band)
  
• EMA/ALMA crossovers
  

Inputs & Customization

• Percentile level & lookback length
  
• ATR length, multiplier, opacity
  
• Fast EMA length, ALMA parameters (offset, length, sigma)
  
• Toggle bands, lines, custom candles, higher‑timeframe mode
  
• Pick your own colors via color‑picker inputs
  

Use TradersFriendCandles to visualize momentum shifts, dynamic support/resistance, and trend strength all in one overlay. Perfect for pinpointing breakouts, breakdowns, and filtering noise with adjustable sensitivity.