I made a quick indicator just now to sort of gauge the bull-bear strength based on M1 candle. It’s doing the same thing that I marked on the chart. Just summing up the candles where the balance of power exchanged hands. And this is what that looks like!
Lime is the price and Red is the difference of Bull and Bear Power.
So there definitely is something in the candles for us to see that hints at the future market movement
But I think doing by hand is the way to go. It’s very easy to make mistakes with these indicators and to read it the wrong way.
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