thetradeengine
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- TradingView
Confluence Candles — Indicator by TheTradeEngine — TradingView
This is an experiment I did to expand the candle coloring algorithm to include up to 4 symbols as well as making everything configurable in the settings menu.
Default Logic
Green Candles
RSI > 50
Stochastic > 50
MACD Histogram > 0
Red Candles
RSI < 50
Stochastic < 50
MACD Histogram < 0
When multiple symbols are selected, the above needs to be true for all selected symbols.
Example Use Cases
Tip
If you have trouble finding the full name for a specific instrument from an exchange such as BTCUSD from Coinbase, you can bring up TradingView’s “Symbol Search” pop-up modal, enter your search term, use the down arrow key on your keyboard to move the focus to the symbol you want, and you will see the full name in the search field such as “COINBASE:BTCUSD”.
This is an experiment I did to expand the candle coloring algorithm to include up to 4 symbols as well as making everything configurable in the settings menu.
Default Logic
Green Candles
RSI > 50
Stochastic > 50
MACD Histogram > 0
Red Candles
RSI < 50
Stochastic < 50
MACD Histogram < 0
When multiple symbols are selected, the above needs to be true for all selected symbols.
Example Use Cases
- Setting the indicator to the Nasdaq 100 ( QQQ or NQ1! ) while trading a stock that is part of that index such as AAPL or TSLA
- Setting the indicator to multiple indexes that tend to move together in order to trade one of them since they tend to make stronger moves when moving together (ex. SPY & QQQ , or ES1! & NQ1! )
- Setting the indicator to Bitcoin while trading a smaller crypto pair that moves as a sympathy play.
Tip
If you have trouble finding the full name for a specific instrument from an exchange such as BTCUSD from Coinbase, you can bring up TradingView’s “Symbol Search” pop-up modal, enter your search term, use the down arrow key on your keyboard to move the focus to the symbol you want, and you will see the full name in the search field such as “COINBASE:BTCUSD”.
