OPEN-SOURCE SCRIPT
Equal Bodies M-hoch-3
Equal Bodies M³ – Multi-Timeframe Indicator
Equal Bodies M³ is a multi-timeframe indicator designed to identify matching candle-body highs and lows across several timeframes.
An Equal Body High (EQBH) is detected when the upper edges of two candle bodies are at approximately the same price. An Equal Body Low (EQBL) is detected when the lower edges of two candle bodies are at approximately the same price.
Supported timeframes
Each timeframe can be enabled or disabled individually:
10 Minutes
15 Minutes
30 Minutes
45 Minutes
1 Hour
4 Hours
Daily
Features
Detects Equal Body Highs and Equal Body Lows
Uses confirmed, closed candles
Adjustable detection tolerance in ticks
Adjustable minimum candle-body size
Individual color settings for every timeframe
Individual line style and line width for every timeframe
Optional timeframe labels
Customizable label text color and transparency
Lines can be extended to the right
Already mitigated levels are automatically removed
An EQBH is removed when price trades above it
An EQBL is removed when price trades below it
A simple touch does not remove the level
Alert condition for newly detected Equal Body levels
The indicator is intended to display only open and potentially relevant Equal Body levels, keeping the chart cleaner by automatically removing levels that have already been traded through.
For the best multi-timeframe display, use the indicator on a lower chart timeframe such as the 1-minute or 5-minute chart.
Note: This indicator is a technical analysis tool and does not provide financial advice. Always use proper risk management and combine the displayed levels with your own trading model and market analysis.
Equal Bodies M³ is a multi-timeframe indicator designed to identify matching candle-body highs and lows across several timeframes.
An Equal Body High (EQBH) is detected when the upper edges of two candle bodies are at approximately the same price. An Equal Body Low (EQBL) is detected when the lower edges of two candle bodies are at approximately the same price.
Supported timeframes
Each timeframe can be enabled or disabled individually:
10 Minutes
15 Minutes
30 Minutes
45 Minutes
1 Hour
4 Hours
Daily
Features
Detects Equal Body Highs and Equal Body Lows
Uses confirmed, closed candles
Adjustable detection tolerance in ticks
Adjustable minimum candle-body size
Individual color settings for every timeframe
Individual line style and line width for every timeframe
Optional timeframe labels
Customizable label text color and transparency
Lines can be extended to the right
Already mitigated levels are automatically removed
An EQBH is removed when price trades above it
An EQBL is removed when price trades below it
A simple touch does not remove the level
Alert condition for newly detected Equal Body levels
The indicator is intended to display only open and potentially relevant Equal Body levels, keeping the chart cleaner by automatically removing levels that have already been traded through.
For the best multi-timeframe display, use the indicator on a lower chart timeframe such as the 1-minute or 5-minute chart.
Note: This indicator is a technical analysis tool and does not provide financial advice. Always use proper risk management and combine the displayed levels with your own trading model and market analysis.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.