indicator · on price · open source
Marubozu
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About
Marubozu: candle with a body covering at least 90% of the range and almost no wicks. Signals full commitment from one side.
- Green Marubozu (close near high) = strong bulls.
- Red Marubozu (close near low) = strong bears.
- Often the start of a strong directional move.
Source code
//@version=5
indicator("Marubozu", overlay=true)
bodyPct = input.float(0.9, "Body min % of range", minval=0.5, step=0.05)
body = (high - low) > 0 and math.abs(close - open) > (high - low) * bodyPct
maru = body
barcolor(maru ? (close > open ? color.green : color.red) : na)
plotshape(maru and close > open, "Bull Marubozu", style=shape.square, location=location.belowbar, color=color.green, text="M")
plotshape(maru and close < open, "Bear Marubozu", style=shape.square, location=location.abovebar, color=color.red, text="M")
alertcondition(maru and close > open, "Bull Marubozu", "Bullish Marubozu printed")
alertcondition(maru and close < open, "Bear Marubozu", "Bearish Marubozu printed")
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