Trading Edge Resources – Candle Taper: Volume Tapering Indicator for Sierra Chart

Identify market exhaustion and high-probability reversal points by analyzing volume tapering at bar extremes.

Candle Taper detects when price reaches extremes and volume behavior shows sellers or buyers are exhausted, creating potential LONG or SHORT trading opportunities. It combines Volume at Price (VAP), tick-level absorption, and candle analysis to highlight precise entry zones.

What You’ll Learn In Candle Taper: Volume Tapering Indicator for Sierra Chart

• Taper Detection at Extremes
• Finished Business: Confirms extreme-level exhaustion
• New Extreme Verification: Only signals at new lows/highs within a configurable lookback period
• Volume Progression Check: Confirms increasing volume moving away from extreme
• Diagonal Imbalance Check: Detects cross-level absorption to filter out aggressive counter-trades
• Time Filter Support: Activate signals only during selected trading hours
• Alerts System: Play sounds for LONG/SHORT signals

More courses from the same author: Trading Edge Resources