This custom-built indicator, created by OptionsTicker for TradingView, tracks dynamic high and low levels on the chart and colors the candles based on their relationship with these levels. It helps traders easily identify bullish and bearish conditions, and dynamically adjusts to market changes for optimal trend analysis.

Key Features:

• Dynamic Levels: The first candle’s high and low are taken as the initial dynamic high and dynamic low levels.
• Bullish Candles: If the close of the next candle is above the dynamic high, the candle is colored white, signaling a bullish trend.
• Bearish Candles: If the close of the next candle is below the dynamic low, the candle is colored black, indicating a bearish trend.
• Inside Candles: If a candle forms as an inside candle (its high is lower than the dynamic candle’s high and its low is higher than the dynamic candle’s low), the color will not change. The candle will retain the color of the previous candle, regardless of the close price relative to the dynamic high or low.
• Automatic Updates: The dynamic high and low levels are updated when the high and low of a candle cross both the dynamic high and dynamic low, ensuring real-time adjustments for accurate trend detection.

Want to Try It Out?

Apply the indicator to your chart and start analyzing the market with the Dynamic High/Low levels.