How to Read My Charts — Indicator Legend

Table of content

This guide explains every element of the indicator and dashboard

Glossary of Terms

New to the THS Trend Candles system? Start here. These are the core concepts used throughout every analysis on Panic Sell Weekly.

Term	Definition
Trend State & Candle Colors	Every candle on the chart is colored to show the system's trend read. A green candle marks a Bull Flip — the exact bar where the trend just switched from bearish to bullish. A red candle marks a Bear Flip — the exact bar where the trend just switched from bullish to bearish. Dark blue means the chart is in an established Uptrend and this bar is continuing it. Light blue (cyan) means the chart is in an established Downtrend and this bar is continuing it. Green and red only appear on the single bar where the flip actually happens — every bar after that shows as dark blue or light blue until the next flip.
Spring	A Wyckoff-based bullish reversal signal. Price briefly dips below a recent support low, flushes out weak sellers, then snaps back above it on a volume spike. The failure to hold below support is the signal — it means sellers are exhausted. Named after a spring being compressed and released.
Upthrust	The bearish mirror of a Spring. Price briefly pushes above a recent resistance high, sucks in late buyers, then rejects back below it on a volume spike. The failure to hold above resistance is the signal — it means buyers are exhausted. A warning to reduce or exit longs.
Bottom Catch	A reversal signal that fires when four conditions align at once: Stochastic K is in a recovery zone (10-20 or 50-60), price crosses back above EMA 20, the candle closes green, and the close is higher than the previous bar. All four must be true on the same bar. It identifies early-stage recoveries from pullbacks.
Double Dragon	A breakout continuation signal. Fires when profitable chips (PC) cross back above 75% with a bullish candle and PC above its own SMA. It means the majority of holders are back in profit and momentum is pointing up — conditions historically associated with continuation moves rather than reversals.
Golden Cross (Chips)	When the 5-bar SMA of profitable chips (PC) crosses above the 5-bar SMA of locked chips (LC). Signals a structural bullish shift — more holders are becoming profitable faster than trapped holders are accumulating. The wider the gap, the stronger the structure.
Death Cross (Chips)	The bearish mirror of the Golden Cross. LC SMA crosses above PC SMA — trapped holders are growing faster than profitable ones. A structural warning that overhead supply is building.
Chips (PC / FC / LC)	Inspired by the MCDX chip distribution system. Divides all holders over the last 100 bars into three groups: PC (profitable — bought below current price), FC (float — actively trading within 3% of current price), and LC (locked — bought above current price, currently underwater). Always adds up to 100%.
Fund Simulation	A 0-100 momentum indicator built on a triple EMA of the stochastic RSV, designed to simulate institutional money flow. Above 50 = net bullish momentum. Below 50 = net bearish. The arrow (▲ or ▼) shows whether momentum is accelerating or decelerating relative to its own 5-bar SMA. Above 85-90 with ▲ = very strong conviction.
POC (Point of Control)	The price level with the highest volume-weighted activity over the last 100 bars. Think of it as the market's centre of gravity — price tends to be attracted to it and react strongly when it crosses it. Price above POC = POC acts as support. Price below POC = POC acts as resistance.
Bottom Catch Ready	A pre-condition tracker, not a signal itself. Shows whether the Stochastic K value is currently in one of the two Bottom Catch recovery zones (10-20 or 50-60). A ✅ means the stochastic condition is met — but the full Bottom Catch signal still requires the EMA 20 cross, green candle, and higher close on the same bar.
CMF (Chaikin Money Flow)	Measures whether money is flowing into or out of an asset based on where each candle closes within its range, weighted by volume. Above +0.05 = buying pressure, institutions accumulating. Below -0.05 = selling pressure, institutions distributing. Near zero = neutral, no clear conviction from either side.
OBV (On Balance Volume)	Cumulative volume indicator. Adds volume on up days, subtracts on down days. When OBV is above its moving average, buying volume is outpacing selling volume on a cumulative basis — a bullish confirmation. Below MA means selling volume is winning.
MA Filters	Two filters that suppress signals when the trend is too strong to expect a reversal. All MAs Aligned suppresses upthrust signals in a strong uptrend and spring signals in a strong downtrend. Strong Trend does the same when EMA 60 has been trending in one direction for 10+ bars. When active, they prevent false reversal signals in trending markets.
Confirmation Score	A 0-4 count of how many of the four confirmation indicators (RSI, CMF, OBV, POC) are supporting a Spring or Upthrust signal. Strong = 3-4/4. Moderate = 2/4. Weak = 0-1/4. A signal with a Weak score can still play out — but conviction is lower and risk management matters more.

Candle Colors

Color	Name	Meaning
🟢 Green	Bull Flip	Trend turning bullish — price crossed above both MAs with MAs sloping up. Strong buy signal.
🔴 Red	Bear Flip	Trend turning bearish — price crossed below both MAs with MAs sloping down. Warning/reduce signal.
🔵 Dark Blue	Uptrend Continuation	Trend confirmed bullish. Hold or add to positions.
🩵 Light Blue	Downtrend Continuation	Trend confirmed bearish. Caution or short.

Moving Averages

Three EMAs plotted on the chart:

Line	Period	Color	Purpose
Short MA	EMA 8	Yellow	Short term trend direction
Medium MA	EMA 20	Orange	Medium term trend, used for Bottom Catch cross
Long MA	EMA 60	Red	Long term trend, defines strong uptrend/downtrend

Chart Labels

Label	Color	Meaning
G/C	Purple	Golden Cross — profitable chip SMA crossed above locked chip SMA. Bullish structural shift.
D/C	Dark/Grey	Death Cross — profitable chip SMA crossed below locked chip SMA. Bearish structural shift.
D/D	Orange	Double Dragon — chips crossed back above 75% with a bullish candle. Breakout continuation signal.
↑75	Green	Chips reclaimed 75% level — profitable holders back in majority.
↓75	Orange	Chips dropped below 75% — Double Dragon reset, watch for potential pullback.
B/C	Blue	Bottom Catch — Stochastic K in recovery zone + price crossed EMA 20 + green candle. Reversal signal.
▲	Blue	Spring signal — price pierced below recent range low then recovered with volume spike.
▽	Orange	Upthrust signal — price pierced above recent range high then rejected with volume spike.

Dashboard — Row by Row

Trend State

Current candle color state. ▲ Uptrend (dark blue candles) or ▼ Downtrend (light blue candles).

Chip Zone (PC%)

Inspired by MCDX chip distribution from Tonghuashun

Measures what percentage of holders over the lookback period are currently profitable based on price position in the range. Three values are shown in the format PC:52.3 FC:7.7 LC:40.0:

Value	Name	Meaning
PC	Profitable Chips	% of holders who bought below current price — in profit
FC	Float Chips	% of holders actively trading near current price (±3% band around close)
LC	Locked Chips	% of holders who bought above current price — underwater/trapped

PC + FC + LC always = 100%

Zone levels:

Zone	PC%	Meaning
Profitable (>75%)	>75%	Most holders profitable — bullish, potential Double Dragon zone
Profitable (50-75%)	50-75%	Majority profitable — healthy uptrend
Accumulation (25-50%)	25-50%	Mixed — transitional zone, watch for direction
Oversold (<25%)	<25%	Most holders trapped — potential reversal/capitulation zone

Reading the chip values:

High PC + Low LC = strong bullish chip structure, most holders in profit
Low PC + High LC = bearish chip structure, most holders trapped
High FC = lots of active trading near current price, indecision zone
Low FC = holders have made up their minds — either comfortably profitable or clearly trapped

Chip Golden Cross

Compares the 5-bar SMA of PC vs LC:

✅ Bull (PC SMA > LC SMA) = Golden Cross — profitable chips trending above locked chips. Bullish.
✅ Bear (LC SMA > PC SMA) = Death Cross — locked chips trending above profitable chips. Bearish.

Shows actual SMA values: ✅ PC 68.7 vs ❌ LC 23.5

Fund Simulation (0-100)

A triple EMA of the stochastic RSV that simulates institutional/smart money momentum.

Value	Meaning
>75	Strongly bullish institutional momentum
50-75	Moderately bullish
50	Neutral midline
25-50	Moderately bearish
<25	Strongly bearish — potential capitulation

▲ = Fund Sim rising above its own 5-bar SMA (momentum accelerating) ▼ = Fund Sim falling below its own 5-bar SMA (momentum decelerating)

Shows value and SMA: ✅ 83.6 ▲ (SMA 68.2)

Confirmations Section

These four indicators score whether a Spring (bull reversal) or Upthrust (bear reversal) signal is high quality. Each shows the actual value alongside the checkmark so you can see the number directly.

RSI (Relative Strength Index)

Measures momentum on a 0-100 scale.

Spring ✅ = RSI below 40 (oversold) — supports a bounce. Shows: ✅ 32.7 (<40)
Upthrust ✅ = RSI above 60 (overbought) — supports a top. Shows: ✅ 76.7 (>60)

CMF (Chaikin Money Flow)

Measures whether money is flowing into or out of the asset based on where candles close within their range weighted by volume.

Spring ✅ = CMF > 0.05 (money flowing in). Shows: ✅ 0.154
Upthrust ✅ = CMF < -0.05 (money flowing out). Shows: ✅ -0.106
Positive = buying pressure, institutions accumulating
Negative = selling pressure, institutions distributing

OBV (On Balance Volume)

Tracks cumulative volume direction — adds volume on up days, subtracts on down days.

Spring ✅ = OBV above its 20-bar MA and rising. Shows: ✅ Above MA
Upthrust ✅ = OBV below its 20-bar MA and falling. Shows: ✅ Below MA

POC Support/Resist (Point of Control)

The price level with the highest volume-weighted activity over the last 100 bars. Acts as a magnet for price.

Spring ✅ = Price is near or below POC (potential support bounce). Shows: ✅ Near/Below $1,844
Upthrust ✅ = Price is near or above POC (potential resistance rejection). Shows: ✅ Near/Above $1,844

Score

Total confirmation count out of 4:

Score	Label	Meaning
3-4/4	Strong	High conviction signal
2/4	Moderate	Watch for follow through
0-1/4	Weak	Low conviction, use caution

Bottom Catch Ready

Tracks the Stochastic K value to see if it is in a recovery zone.

Zones that matter:

Zone	Meaning
K 10-20	Deep oversold — capitulation low forming
K 50-60	Mid pullback recovery — healthy continuation

✅ K in zone (current bar): ✅ K:18.4 in zone
✅ K in zone (previous bar triggered): ✅ K:22.1 prev:17.8 in zone
❌ K out of zone: ❌ K:75.6 (need 10-20 or 50-60)

Note: Bottom Catch Ready being ✅ does not mean the signal has fired — it means the Stochastic condition is met. The full Bottom Catch signal also requires a green candle crossing above the EMA 20.

Active Signals

Spring / Upthrust

Wyckoff-inspired reversal signals based on volume spikes through recent range extremes:

Signal	Meaning
🔵 Strong	Spring/Upthrust + 3-4 confirmations — high conviction reversal
💙 Moderate	Spring/Upthrust + 2 confirmations — watch for follow through
○ Basic	Spring/Upthrust + 0-1 confirmations — low conviction
—	No signal firing this bar

Bottom Catch

✅ = All conditions met this bar: K in zone + EMA 20 cross + green candle + close higher than previous

Double Dragon

✅ = Chips crossed back above 75% with a bullish candle and PC above its SMA. Breakout continuation.

Last Signals

Shows when each signal last fired and how many bars ago — color coded by recency so you can instantly judge whether a signal is still relevant.

Display	Color	Meaning
🔥 This bar	Orange	Signal firing right now
✅ 3 bars ago	Green	Fired within last 5 bars — still very relevant
⚠️ 10 bars ago	Orange	Fired 6-15 bars ago — recently fired, context still useful
🔘 28 bars ago	Grey	Fired more than 15 bars ago — historical reference only
—	Dark	Signal has never fired in this chart session

Rows tracked:

Last Spring — most recent spring signal
Last Bot Catch — most recent Bottom Catch signal
Last Dbl Dragon — most recent Double Dragon signal

MA Filters

These filters can suppress Spring or Upthrust signals when the trend is too strong in one direction to expect a reversal.

All MAs Aligned

Suppresses Upthrust (bull column ✅) = All 3 MAs pointing up, price above all — too bullish to expect a top
Suppresses Spring (bear column ✅) = All 3 MAs pointing down, price below all — too bearish to expect a bounce

Strong Trend

Suppresses Upthrust (bull column ✅) = EMA 60 has been rising for 10+ bars — confirmed strong uptrend
Suppresses Spring (bear column ✅) = EMA 60 has been falling for 10+ bars — confirmed strong downtrend

When orange: a filter is active and blocking signals in that direction.

POC Level

The Point of Control — highest volume price level over the last 100 bars.

Price Above POC = bullish (POC acts as support below price)
Price Below POC = bearish (POC acts as resistance above price)

Reading the Dashboard Together

Ideal Bull Setup:

Trend State: ▲ Uptrend
Chip Zone: Accumulation or Profitable, PC rising
Golden Cross: ✅ bull, PC SMA above LC SMA
Fund Sim: >50 ▲ rising
RSI: oversold recovering (<40)
CMF: positive (>0.05)
OBV: above MA
Score: Strong 3-4/4
Bottom Catch Ready: ✅ K in zone
Last Bot Catch: recently fired (green)
MA Filters: neither suppressing spring

Ideal Bear Setup:

Trend State: ▼ Downtrend
Chip Zone: Oversold, PC falling, LC dominant
Golden Cross: ✅ bear (Death Cross), LC SMA above PC SMA
Fund Sim: <50 ▼ falling
RSI: overbought (>60)
CMF: negative (<-0.05)
OBV: below MA
Score: Strong 3-4/4 upthrust
MA Filters: neither suppressing upthrust

This is not financial advice. Always manage risk appropriately and never risk more than you can afford to lose.

This guide explains every element of the indicator and dashboard.