OPEN-SOURCE SCRIPT
Wick Length Display (Extended)
Indicator Explanation
The Wick Length Display Indicator is a tool for traders that measures and displays the length of the upper and lower wicks of candles on a chart. Its main features include:
1. Visualization of Wick Lengths:
◦ For each green (bullish) and red (bearish) candle, the length of the upper and lower wicks is displayed as a text label.
◦ You can choose to display the lengths either in absolute units or converted to pips.
2. Thresholds for Display:
◦ To improve clarity, thresholds can be set for green and red candles.
◦ Only wicks longer than the specified threshold are displayed. The default threshold is 1.10 (adjustable).
3. Customizable Options:
◦ The threshold feature can be enabled or disabled via the menu.
◦ The colors and sizes of the text labels can be customized.
◦ The maximum number of labels displayed at any one time can also be limited.
4. "No Wick" Labels:
◦ If a candle has no upper or lower wick, a gray "No Wick" label is displayed to highlight this condition.
This indicator is especially useful for gaining quick visual insights into market volatility, identifying trends, or spotting potential reversal points in the chart.
The Wick Length Display Indicator is a tool for traders that measures and displays the length of the upper and lower wicks of candles on a chart. Its main features include:
1. Visualization of Wick Lengths:
◦ For each green (bullish) and red (bearish) candle, the length of the upper and lower wicks is displayed as a text label.
◦ You can choose to display the lengths either in absolute units or converted to pips.
2. Thresholds for Display:
◦ To improve clarity, thresholds can be set for green and red candles.
◦ Only wicks longer than the specified threshold are displayed. The default threshold is 1.10 (adjustable).
3. Customizable Options:
◦ The threshold feature can be enabled or disabled via the menu.
◦ The colors and sizes of the text labels can be customized.
◦ The maximum number of labels displayed at any one time can also be limited.
4. "No Wick" Labels:
◦ If a candle has no upper or lower wick, a gray "No Wick" label is displayed to highlight this condition.
This indicator is especially useful for gaining quick visual insights into market volatility, identifying trends, or spotting potential reversal points in the chart.
Script de código aberto
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