HTF Overlay Candles (Aggregated)

3 cze

🕯️ Synthetic Aggregated Candles

Created by: The_Forex_Steward
License: Mozilla Public License 2.0

🔍 Description
This indicator creates visually aggregated candles directly on your chart, allowing you to view synthetic candlesticks that combine multiple bars into one. It enables a higher-level perspective of price action without switching timeframes.

Each synthetic candle is built by combining a user-defined number of consecutive bars (e.g., 4 bars from the current timeframe form one aggregated candle). It accurately tracks open, high, low, and close values, then draws a colored box and wick to represent the aggregated data.

⚙️ Features

• Aggregation Factor: Combine candles over a custom number of bars (e.g., 4 = 4x current TF)
  
• Timezone Alignment: Aggregation is aligned with midnight in UTC-5 (modifiable in code)
  
• Custom Colors: Choose colors for bullish and bearish synthetic candles
  
• Body Opacity: Control the opacity of the candle body for visual clarity
  
• Wick Width: Customize the thickness of the candle wick
  

📌 Use Case
Ideal for traders looking to:
- Reduce noise in lower timeframes
- Visualize price action in broader chunks
- Spot larger structure and swing patterns without switching charts

📈 How It Works
At every bar, the script checks whether a new aggregation interval has begun (aligned to the day start). If so, it finalizes the previous candle and starts a new one. On the last bar of the chart, it ensures the final synthetic candle is drawn.

✅ Tip
For best results, apply this script on intraday timeframes and experiment with different aggregation factors (4, 6, 12, etc.) to discover the most insightful compression for your strategy.

Note: This script is optimized for visual representation only. It does not repaint, but it is not intended for algorithmic strategies or alerts.

15 cze

Informacje o Wersji

agg close logic updated