Request: Raindrop Candles

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01/18/2021 at 3:20 PM #158298 quote

juanj
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So I recently came across this very unique candle type called ‘Raindrop Candles’ that basically visualize the movement of price, volume, and sentiment by highlighting where the action (volume) was.

Unlike traditional candlesticks, Raindrops do not have open or close prices. They are constructed from a high, low, left VWAP and right VWAP. The first half (left side) of each Raindrop represents the first half of the trading period, the second half (right) represents the second half. The width of each side represents the amount of trading volume that occurred at each price level. The dashes are the VWAP for the respective period.

Link to Whitepaper: https://trendspider.com/whitepapers/raindrops_280519.pdf

Link to overview: https://www.trendspider.com/raindrops/

@Nicolas perhaps this is something you would be able to code for us using PRT v11.1 since it supports arrays.

01/18/2021 at 3:25 PM #158299 quote

juanj
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We would obviously respect the trademarked name and change it to something like ‘VWAP Candles’?

Here is another link to a video explaining how to use the candles: https://youtu.be/T3cdQCcAYbw
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Request: Raindrop Candles

ProBuilder: Indicators & Custom Tools

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juanj @juanj Participant

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This topic contains 1 reply,
has 1 voice, and was last updated by juanj
5 years ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	01/18/2021
Status:	Active
Attachments:	No files

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