Price-Action Candles (Lower): Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

194 lines of Pine Script v5 from Tradingview/price-action-candles-lower.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

price-action-candles-lower.pine

// © goodgains

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/

//@version=5
indicator("Price-Action Candles (Lower)", overlay = false, max_labels_count = 5)

// @keywords: price-action-candles, swing-structure, higher-high, lower-low, mtf-trend, multi-timeframe, pivot-high, pivot-low, bullish-candle, bearish-candle, neutral-candle, trend-consensus, lower-pane, swing-values, mtf-alignment, price-action-length, trend-direction, structure-candles, timeframe-trend, candle-state

// inputs
sdLength    = input.int(10, title = 'Price-Action Length', minval = 1)

bullCSS     = input.color(color.lime, title = 'Bull')
bearCSS     = input.color(color.rgb(255, 0, 0), title = 'Bear')
neutCSS     = input.color(color.yellow, title = 'Neutral')


use_mtf1        = input.bool(true, title = 'MTF 1', group = 'MTF Trend', inline = '1')
mtf_1           = input.timeframe("1", title = '', group = 'MTF Trend', inline = '1')

use_mtf2        = input.bool(true, title = 'MTF 2', group = 'MTF Trend', inline = '2')
mtf_2           = input.timeframe("5", title = '', group = 'MTF Trend', inline = '2')

use_mtf3        = input.bool(true, title = 'MTF 3', group = 'MTF Trend', inline = '3')
mtf_3           = input.timeframe("15", title = '', group = 'MTF Trend', inline = '3')

use_mtf4        = input.bool(true, title = 'MTF 4', group = 'MTF Trend', inline = '4')
mtf_4           = input.timeframe("60", title = '', group = 'MTF Trend', inline = '4')

use_mtf5        = input.bool(true, title = 'MTF 5', group = 'MTF Trend', inline = '5')
mtf_5           = input.timeframe("D", title = '', group = 'MTF Trend', inline = '5')



// functions
f_getSwingValues(sdLength, offset) =>
    sh = ta.pivothigh(high, sdLength, sdLength)
    sl = ta.pivotlow(low, sdLength, sdLength)

    csh = ta.valuewhen(not na(sh), high[sdLength], 0)
    csl = ta.valuewhen(not na(sl), low[sdLength], 0)

    psh = ta.valuewhen(not na(sh), high[sdLength], 1)
    psl = ta.valuewhen(not na(sl), low[sdLength], 1)

    hh = sh >= psh
    lh = sh < psh
    ll = sl <= psl
    hl = sl > psl

    var int trend = na
    trend := ((hh and high >= psh) or close > csh) ? 1 : ((ll and low <= psl) or close < csl) ? -1 : lh or hl ? 0 : trend[1]

    var int last_signal = na
    last_signal := hh ? 2 : lh ? -1 : ll ? -2 : hl ? 1 : last_signal[1]

    [sh[offset], sl[offset], psh[offset], psl[offset], csh[offset], csl[offset], hh[offset], lh[offset], ll[offset], hl[offset], trend[offset], last_signal[offset]]



// calculate mtf
f_ltf_values(tf) =>
    var int returnTrend = na

    adjusted_timeframe = timeframe.in_seconds(tf) >= timeframe.in_seconds() ? '' : tf
    [ltf_sh, ltf_sl, ltf_psh, ltf_psl, ltf_csh, ltf_csl, ltf_hh, ltf_lh, ltf_ll, ltf_hl, ltf_trend, ltf_last_signal] = 
     request.security_lower_tf(syminfo.tickerid, adjusted_timeframe, f_getSwingValues(sdLength, 0))

    if array.size(ltf_trend) > 0
        returnTrend := array.last(ltf_trend)
    else
        returnTrend := 0

    returnTrend



f_htf_values(tf) =>
    [htf_sh, htf_sl, htf_psh, htf_psl, htf_csh, htf_csl, htf_hh, htf_lh, htf_ll, htf_hl, htf_trend, htf_last_signal] = 
     request.security(syminfo.tickerid, tf, f_getSwingValues(sdLength, 1), lookahead = barmerge.lookahead_on)

    htf_trend


f_sametf_values() =>
    [sametf_sh, sametf_sl, sametf_psh, sametf_psl, sametf_csh, sametf_csl, sametf_hh, sametf_lh, sametf_ll, sametf_hl, sametf_trend, sametf_last_signal] =
     f_getSwingValues(sdLength, 0)

    sametf_trend


var int mtf1_trend = na
var int mtf2_trend = na
var int mtf3_trend = na
var int mtf4_trend = na
var int mtf5_trend = na

if use_mtf1
    if timeframe.in_seconds() == timeframe.in_seconds(mtf_1)
        mtf1_trend := f_sametf_values()
    else if timeframe.in_seconds() > timeframe.in_seconds(mtf_1)
        mtf1_trend := f_ltf_values(mtf_1)
    else
        mtf1_trend := f_htf_values(mtf_1)

if use_mtf2
    if timeframe.in_seconds() == timeframe.in_seconds(mtf_2)
        mtf2_trend := f_sametf_values()
    else if timeframe.in_seconds() > timeframe.in_seconds(mtf_2)
        mtf2_trend := f_ltf_values(mtf_2)
    else
        mtf2_trend := f_htf_values(mtf_2)

if use_mtf3
    if timeframe.in_seconds() == timeframe.in_seconds(mtf_3)
        mtf3_trend := f_sametf_values()
    else if timeframe.in_seconds() > timeframe.in_seconds(mtf_3)
        mtf3_trend := f_ltf_values(mtf_3)
    else
        mtf3_trend := f_htf_values(mtf_3)

if use_mtf4
    if timeframe.in_seconds() == timeframe.in_seconds(mtf_4)
        mtf4_trend := f_sametf_values()
    else if timeframe.in_seconds() > timeframe.in_seconds(mtf_4)
        mtf4_trend := f_ltf_values(mtf_4)
    else
        mtf4_trend := f_htf_values(mtf_4)

if use_mtf5
    if timeframe.in_seconds() == timeframe.in_seconds(mtf_5)
        mtf5_trend := f_sametf_values()
    else if timeframe.in_seconds() > timeframe.in_seconds(mtf_5)
        mtf5_trend := f_ltf_values(mtf_5)
    else
        mtf5_trend := f_htf_values(mtf_5)


// plot mtf lines
plot(5, title = 'MTF 1', color = mtf1_trend == 1 ? bullCSS : mtf1_trend == -1 ? bearCSS : neutCSS, style = plot.style_cross, linewidth = 5, display = use_mtf1 ? display.all : display.none, editable = false)
plot(4, title = 'MTF 2', color = mtf2_trend == 1 ? bullCSS : mtf2_trend == -1 ? bearCSS : neutCSS, style = plot.style_cross, linewidth = 5, display = use_mtf2 ? display.all : display.none, editable = false)
plot(3, title = 'MTF 3', color = mtf3_trend == 1 ? bullCSS : mtf3_trend == -1 ? bearCSS : neutCSS, style = plot.style_cross, linewidth = 5, display = use_mtf3 ? display.all : display.none, editable = false)
plot(2, title = 'MTF 4', color = mtf4_trend == 1 ? bullCSS : mtf4_trend == -1 ? bearCSS : neutCSS, style = plot.style_cross, linewidth = 5, display = use_mtf4 ? display.all : display.none, editable = false)
plot(1, title = 'MTF 5', color = mtf5_trend == 1 ? bullCSS : mtf5_trend == -1 ? bearCSS : neutCSS, style = plot.style_cross, linewidth = 5, display = use_mtf5 ? display.all : display.none, editable = false)


// labels
var label mtf1_label = na
var label mtf2_label = na
var label mtf3_label = na
var label mtf4_label = na
var label mtf5_label = na


if barstate.islast
    if use_mtf1
        if na(mtf1_label[1])
            mtf1_label := label.new(x=bar_index+5, y=5, text = str.tostring(mtf_1), color = mtf1_trend == 1 ? bullCSS : mtf1_trend == -1 ? bearCSS : neutCSS,
             textcolor = color.black, style = label.style_label_center, textalign = text.align_center)
        else
            label.set_x(mtf1_label[1], bar_index+5)
            label.set_color(mtf1_label[1], color = mtf1_trend == 1 ? bullCSS : mtf1_trend == -1 ? bearCSS : neutCSS)

    if use_mtf2
        if na(mtf2_label[1])
            mtf2_label := label.new(x=bar_index+5, y=4, text = str.tostring(mtf_2), color = mtf2_trend == 1 ? bullCSS : mtf2_trend == -1 ? bearCSS : neutCSS,
             textcolor = color.black, style = label.style_label_center, textalign = text.align_center)
        else
            label.set_x(mtf2_label[1], bar_index+5)
            label.set_color(mtf2_label[1], color = mtf2_trend == 1 ? bullCSS : mtf2_trend == -1 ? bearCSS : neutCSS)

    if use_mtf3
        if na(mtf3_label[1])
            mtf3_label := label.new(x=bar_index+5, y=3, text = str.tostring(mtf_3), color = mtf3_trend == 1 ? bullCSS : mtf3_trend == -1 ? bearCSS : neutCSS,
             textcolor = color.black, style = label.style_label_center, textalign = text.align_center)
        else
            label.set_x(mtf3_label[1], bar_index+5)
            label.set_color(mtf3_label[1], color = mtf3_trend == 1 ? bullCSS : mtf3_trend == -1 ? bearCSS : neutCSS)

    if use_mtf4
        if na(mtf4_label[1])
            mtf4_label := label.new(x=bar_index+5, y=2, text = str.tostring(mtf_4), color = mtf4_trend == 1 ? bullCSS : mtf4_trend == -1 ? bearCSS : neutCSS,
             textcolor = color.black, style = label.style_label_center, textalign = text.align_center)
        else
            label.set_x(mtf4_label[1], bar_index+5)
            label.set_color(mtf4_label[1], color = mtf4_trend == 1 ? bullCSS : mtf4_trend == -1 ? bearCSS : neutCSS)

    if use_mtf5
        if na(mtf5_label[1])
            mtf5_label := label.new(x=bar_index+5, y=1, text = str.tostring(mtf_5), color = mtf5_trend == 1 ? bullCSS : mtf5_trend == -1 ? bearCSS : neutCSS,
             textcolor = color.black, style = label.style_label_center, textalign = text.align_center)
        else
            label.set_x(mtf5_label[1], bar_index+5)
            label.set_color(mtf5_label[1], color = mtf5_trend == 1 ? bullCSS : mtf5_trend == -1 ? bearCSS : neutCSS)

Overview

Price-Action Candles (Lower) marks higher highs, lower highs, higher lows, and lower lows, then assigns a bullish, bearish, or neutral trend from those swings and the close relative to the latest swing values. A price-action length sets the pivot window. Five optional multi-timeframe inputs request the same trend on other timeframes, using lower-timeframe requests or higher-timeframe security calls. Higher-timeframe values use lookahead, so they can read unfinished higher-timeframe data. It does not place trades.

Pivot-based swing structure
Higher-high and lower-low classification
Five optional multi-timeframe trend inputs
Bull, bear, and neutral colors
Lower-pane price-action candles

Details

Published by

g-moe on GitHub

Code credit

goodgains, as written in the script's header

Type

Indicator, Pine Script v5

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)
Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time

File

Tradingview/price-action-candles-lower.pine

Repository

github.com/g-moe/Trading-Indicators. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Price-Action Length	`int`	`10`	`sdLength`
Bull	`color`	`color.lime`	`bullCSS`
Bear	`color`	`color.rgb(255, 0, 0)`	`bearCSS`
Neutral	`color`	`color.yellow`	`neutCSS`
MTF 1	`bool`	`true`	`use_mtf1`
mtf_1	`timeframe`	`1`	`mtf_1`
MTF 2	`bool`	`true`	`use_mtf2`
mtf_2	`timeframe`	`5`	`mtf_2`
MTF 3	`bool`	`true`	`use_mtf3`
mtf_3	`timeframe`	`15`	`mtf_3`
MTF 4	`bool`	`true`	`use_mtf4`
mtf_4	`timeframe`	`60`	`mtf_4`

Show all 14 settings

Setting	Type	Default	Variable
MTF 5	`bool`	`true`	`use_mtf5`
mtf_5	`timeframe`	`D`	`mtf_5`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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