Raindrop Candles v2 (Trendspider) 😈

About

Raindrop Charts brings TrendSpider-style "Raindrop candles" to Market Monkey Terminal. Each raindrop splits a period into two time halves and renders a mirrored volume profile for each, colored by direction — green when the right-half VWAP is above the left, red when below, and blue for a neutral doji where the two are balanced (signaling indecision and potential support/resistance). How to use: if you want to see the daily raindrop candles, you must use the 12H chart timeframe. Basically divide your desired timeframe by 2 to get the corresponding raindrop candles of your choice. Dojis serve to spot potential S/R. The colour of the raindrop can be different. E.g. your regular candle might be green at the top of a trend while the raindrop may be red. This can help you spot weakness at tops. The size of the volume bubble between the 2 halves can also help you spot weakness or strength. If the first half is bigger than the 2nd half it may indicate weakness at tops. Balloons render as a smooth violin or as histogram boxes, with optional high/low spines and VWAP ticks. It also automatically projects gray rays from the most recent blue-doji levels above and below price as live support/resistance, configurable to show one or two levels per side. It is strongly recommended to keep the default settings. Due to MMT's limitation and the amount of drawings per candle, not all historical candles will be visible. You can always toggle off the smooth violin mode if you need more history; the raindrops will look more visually ugly but you'll still get the data. If you're new to raindrop candles, make sure to read the official whitepaper: https://trendspider.com/whitepapers/raindrops_280519.pdf