One White Soldier Study — Indicator by MattDeLong

This shows a green indicator on this study (17Jun & 15Aug on TRN) when a bullish candle opens and closes above the prior day's bearish candle, ignoring gap ups. This will only show in the DAILY chart, not intraday.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

//@version=2
//author = https://www.tradingview.com/u/MattDeLong/
study("One White Soldier", overlay=true)

oneWhiteSoldier() =>
    open[0] > open[1] and close[0] > open[0] and high[1] > open[0] and close[1] < open[1] and open[1]-close[1]>.02

plotshape(isdaily and oneWhiteSoldier(), style=shape.labelup, size=size.small, location=location.belowbar, color=green)