Candlestick analysis
Chainbey Ai - Volume Sentiment Table (Last N Candles) v1.2🔷 Chainbey Ai – Volume Sentiment Table (Last N Candles)
Chainbey Ai – Volume Sentiment Table is a smart, clean dashboard-style indicator that analyzes the last N candles and shows who is in control right now — Buyers or Sellers — directly on your chart in a bottom-right table.
This tool is designed to reduce noise, avoid guesswork, and help traders make confidence-based decisions using volume behavior rather than candle color alone.
📊 What This Indicator Shows
🔹 Buyer vs Seller Percentage
Calculates Buyer % and Seller % from the last N candles
Uses volume distribution logic (not just green/red candles)
Example:
Buyers: 72%
Sellers: 28%
This clearly tells you which side is dominant.
🔹 Market Control Status
The table automatically labels:
BUYERS ACTIVE
SELLERS ACTIVE
NEUTRAL
So you instantly know who is pushing the market at the moment.
🔹 Net Pressure (Buy − Sell)
Shows the difference between buyers and sellers in percentage.
Positive = bullish pressure
Negative = bearish pressure
Helpful to judge strength, not just direction.
🔹 Current Candle Pressure
Shows live buyer vs seller pressure for the current candle:
B 63% | S 37%
This helps you confirm:
Breakouts
Rejections
Fake moves
🔹 Relative Volume (RelVol)
Compares current volume to its average:
1.00x = normal activity
>1.50x = strong participation (institutional interest)
🛠️ How to Use (Practical Trading Guide)
✅ Trend Confirmation
Buyers Active + Rising Price → trend continuation likely
Sellers Active + Falling Price → bearish continuation
✅ Entry Confirmation
Use this table to confirm, not predict:
Enter trades only when your setup aligns with volume dominance
Avoid buying when Sellers Active
-n
✅ Breakout Validation
Breakout + Buyers > 60% + High RelVol = real breakout
Breakout + low buyer % = possible fake move
✅ Trade Management
If in BUY and table flips to SELLERS ACTIVE, consider:
Partial close
Tight stop
Same logic for SELL trades
⚙️ Inputs Explained
Lookback Candles
Controls how many past candles are used (default: 50)
Relative Volume Length
Volume average period for activity comparison
Dominance Threshold (%)
Used for alerts when one side becomes clearly dominant
Show Table
Toggle the dashboard on/off
🔔 Alerts
Buyers Dominant Alert
Sellers Dominant Alert
Alerts trigger when dominance crosses the defined threshold, helping you stay aware without staring at the screen.
🎯 Best Use Cases
✔ Scalping
✔ Intraday trading
✔ Breakout & rejection confirmation
✔ Smart money / volume analysis
✔ Works on all markets (Forex, Gold, Crypto, Indices)
⚠️ Important Note
This indicator does NOT generate buy/sell signals.
It is a confirmation and bias tool designed to work alongside:
Price action
Support & resistance
Trend structure
Chainbey Ai indicators
🧠 Chainbey Ai Philosophy
“Don’t trade what you hope — trade what volume confirms.”
If you want fewer fake entries, clearer market bias, and cleaner decisions — this tool is for you.
HANUMAN ASHTRA SIGNALSa very good indicator to give buy or sell signals combined with rsi and candle stick patterns
Sequential Breakout Structure (Logical by Dobrunia Trader)Индикатор структуры последовательных пробоев
Индикатор автоматически строит структурную ломаную на основе последовательных пробоев максимумов и минимумов.
Основные возможности:
- Определяет пробои когда цена превышает максимум или минимум предыдущей свечи
- Фильтрует внутренние бары (свечи внутри диапазона предыдущей) для уменьшения шума
- Умная обработка двухсторонних свечей (пробивающих одновременно верх и низ)
- Рисует непрерывную структурную линию через точки разворота
- Опциональное отображение структурных точек на экстремумах
Принцип работы:
1. Каждая свеча сравнивается с предыдущей валидной свечой
2. Если максимум выше предыдущего максимума → пробой вверх
3. Если минимум ниже предыдущего минимума → пробой вниз
4. При смене направления фиксируется структурная точка
5. Внутренние бары игнорируются и подсвечиваются (опционально)
В отличии от объяснения Dobrunia trader пришлось добавить обработку двухсторонних баров (бары которые пробивают и High и Low свечи) при сохранении последовательности пробоев.
Буду рад комментариям или критике если нашли какие то баги или проблемы.
Большая благодарность Dobrunia trader за возможность обучения его ТС и логике.
Ссылка на Dobrunia trader: ru.tradingview.com
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This indicator automatically builds a structural zigzag line based on sequential high/low breakouts.
Key Features:
- Detects breakouts when price exceeds the previous candle's high or low
- Filters out inside bars (candles within previous candle's range) to reduce noise
- Smart handling of bidirectional candles (breaking both high and low simultaneously)
- Draws a continuous structure line through pivot points
- Optional display of structure points at extremes
How it works:
1. Each candle is compared to the previous valid candle
2. If high is above the previous high → upward breakout
3. If low is below the previous low → downward breakout
4. When direction changes, a structural point is recorded
5. Inside bars are ignored and highlighted (optional)
Unlike Dobrunia trader's explanation, I had to add handling for bidirectional bars (bars that break both High and Low of the previous candle) while maintaining the breakout sequence logic.
I would appreciate comments or criticism if you find any bugs or issues.
Big thanks to Dobrunia trader for the opportunity to learn his trading system and logic.
Link to Dobrunia trader: ru.tradingview.com
EMA 9, 20, 30, 200 (Buy Trend Filter Only)EMA 9, 20, 30, 200 (Buy Trend Filter Only) simple ema crossing analysis
Bitget Pro Sinyal [Optimized v2]11 gösterge onaylı sinyaller yatırım tavsiyesi değildir kendi kullandıgım sinyaller
Strong Daily Reversal Arrows / Labels
🔁 Reversal indicator on the daily time frame
Bullish Reversal
✔ Previous day was bearish
✔ Today is bullish
✔ Today closes above previous day close
Bearish Reversal
✔ Previous day was bullish
✔ Today is bearish
✔ Today closes below previous day close
3 Sessions Box (ON/OFF)📖 The Story of the Three Gatekeepers (English Version)
Every trading day is a journey through three different worlds.
The chart is like a city, and price is like a crowd that never stops moving.
To bring structure into this movement, I built a script that summons three gatekeepers — each one guarding a different trading session, drawing a box that marks the boundaries of that time period.
These boxes are not just visuals.
They represent the true ranges where liquidity is built, tested, and finally released.
🌙 Session 1 — The Midnight Shadow
From 00:00 to 08:00 (MYT), the market enters its quietest state.
This is the time when price moves slowly, but it often sets the foundation for the entire day.
The first gatekeeper observes every candle, recording the highest high and lowest low, then seals it into a blue box.
This box becomes the “silent range” — a zone that later sessions may break, retest, or manipulate.
☀️ Session 2 — The Daylight Order
From 08:00 to 16:00 (MYT), the market wakes up.
Liquidity begins to flow, and structure starts to form.
The second gatekeeper draws a green box to capture this session’s true range.
He does not chase price.
He protects order — because real trends often begin here.
🔥 Session 3 — The Night Battlefield
From 16:00 to 23:59 (MYT), the market becomes a battlefield.
Volatility increases, and decisive moves are made.
The third gatekeeper draws a red box, locking in the highs and lows of the final session.
Red means war:
breakouts, fakeouts, liquidity sweeps, and explosive continuations.
This is often where winners and losers are separated.
🎛️ The Most Powerful Feature — You Control the Switch
This script is not fixed.
You can decide:
Focus only on Session 1 ✅
Turn off Session 2 completely ✅
Trade only Session 3 breakouts ✅
Because you are the commander.
The gatekeepers simply execute your rules.
Harmonic Rzin An advanced indicator for analyzing market structure and harmonic formations.
It delivers a clean, structured view of price action, focusing on signal quality and reducing market noise.
The indicator is exploratory in its current version and is actively being developed to become anticipatory in future releases.
Settings Notes
• Depth controls the size of price movements the indicator responds to.
• Lower values capture shorter, faster moves.
• Higher values focus on larger, clearer market swings.
• Suggested values by timeframe:
• 15m: 10 – 15
• 1H: 15 – 25
• 4H: 25 – 40
• 1D: 40 – 70
Depth can be adjusted based on timeframe and trading style for optimal results.
This indicator is a decision-support tool and not a trading recommendation.
⸻
Coming soon… ICT like you’ve never seen before.
The journey continues — all updates are shared on:
X | @Rzin_Bitcoin
مؤشر لتحليل البنية السعرية والتكوينات التوافقية
يوففر قراءة منظمة وهادئة لحركة السوق مع التركيز على جودة الإشارة وتقليل الضجيج.
المؤشر اكتشافي في مرحلته الحالية ويجري تطويره ليصبح استباقيا في الإصدارات القادمة.
ملاحظات الإعداد
• إعداد العمق (Depth) يتحكم في حجم الحركة السعرية التي يعتمد عليها المؤشر.
• قيم أصغر تلتقط حركات أقصر، وقيم أكبر تركز على الحركات الأكبر والأوضح.
• القيم المقترحة حسب الفريم:
• 15 دقيقة: 10 – 15
• ساعة: 15 – 25
• 4 ساعات: 25 – 40
• يومي: 40 – 70
يمكن تعديل العمق حسب الفريم وأسلوب التداول للحصول على أفضل نتيجة.
المؤشر أداة تحليلية مساعدة وليست توصية تداول
🤌🏻 | قريبا … ICT كما لم تره من قبل |
رحلة المؤشر مستمرة وكل جديد يشارك عبر:
X | @Rzin_Bitcoin
HeikinAshiSub【サブチャート表示型：平均足オシレーター】
本ツールは、通常メインチャートに表示される「平均足」を、オシレーターのようにチャート下部のサブウィンドウへ表示させるインジケーターです。
■ 主な特徴とメリット
視認性の向上: メインチャートを通常の「ローソク足」に設定したまま、サブチャートで「平均足」のトレンド継続性を確認できます。
分析の使い分け: ローソク足で細かなプライスアクション（ヒゲや型）を読み取り、サブウィンドウの平均足で大まかなトレンドの方向性や勢いを判断するという使い分けが可能です。
本インジケーターは、山中先生に制作・共有していただいたものを皆さんにも公開いたしました。
「ディスクレーマー（免責事項）」
※本インジケーターは投資助言者【馬】が独自に開発したものです。 ※開発者の好意により提供されるものであり、将来の利益を保証するものではありません。 ※投資およびトレードはすべて自己責任で行ってください。 ※外国為替証拠金取引（FX）や有価証券投資には価格変動リスクがあり、投資元本を割り込む、あるいは全額を失う可能性があります。また、証拠金以上の損失が発生するリスクも含まれます。これらをご理解・承諾いただいた上でご利用ください。
This indicator displays "Heikin Ashi" candles in the sub-window at the bottom of the chart, functioning like an oscillator.
■ Key Features & Benefits
Enhanced Visual Clarity: You can keep your main chart set to standard "Candlesticks" while simultaneously monitoring trend continuity via "Heikin Ashi" in the sub-pane.
Dual Analysis: This allows you to read detailed price action (wicks and patterns) on the main chart, while using the sub-window’s Heikin Ashi to judge the overall trend direction and momentum.
This indicator was created and shared by Mr. Yamanaka.
Disclaimer
This indicator was originally developed by the investment advisor .
It is provided as a courtesy and does not guarantee future profits.
All investments and trades are conducted at your own risk.
Trading Forex (FX) and securities involves significant risk of loss. Prices can fluctuate, and you may lose your entire investment. In leveraged trading, losses can exceed your initial deposit. Please use this tool only after fully understanding and accepting these risks.
Revers IndicatorRevers Indicator indicator with confirmed buy and sell signals we can use this indicator any time frame charts but best 100T time chart
Open Cool HA FinalOpen Cool HA Final indicator with confirmed buy and sell signals we can use this indicator any time frame charts but best 100T time chart
Ethe Pro - Liquidity & Whales v2🎯 Indicator Objective:
To help you identify entry and exit opportunities more easily and clearly with direct visual signals.
📊 Indicator Components:
1. Core Indicators:
PSI (Strength Indicator):
· Based on RSI
· 🟢 40-80: Safe buying zone
· 🔴 Below 30 or above 70: Danger zone
MXCD (Trend Indicator):
· Based on CCI
· 🟢 Positive = Bullish trend
· 🔴 Negative = Bearish trend
Momentum:
· Speed of price movement
· 🟢 Positive = Upward acceleration
· 🔴 Negative = Downward acceleration
2. Visual Signals:
🔺 Buy Signals:
· Strong Buy 🟢 (Large Green Label):
· PSI between 45-65 ✅
· Positive MXCD ✅
· High trading volume ✅
· Regular Buy △ (Small Triangle):
· Any of the above conditions
🔻 Sell Signals:
· Strong Sell 🔴 (Large Red Label):
· PSI below 25 or above 75 ✅
· Negative MXCD ✅
· High trading volume ✅
· Regular Sell ▽ (Small Triangle):
· Any of the above conditions
3. Auxiliary Tools:
Moving Averages:
· Orange (EMA 9): Fast average
· Blue (EMA 21): Slow average
· Trend: Determines if market is bullish or bearish
Support & Resistance:
· Resistance 🔴: Highest price in 10 candles
· Support 🟢: Lowest price in 10 candles
🎮 How to Use the Indicator:
Step by Step:
1. Look for signals on the chart:
· 🔺 Green triangle = Possible buy entry
· 🔻 Red triangle = Possible sell entry
2. Check the table:
· Confirm indicator alignment
· Check overall market trend
3. Make a decision:
· If strong signal + confirmed trend = Enter
· If conflicting indicators = Wait
Practical Examples:
Example 1: Good Buy
· 🔺 Strong buy signal
· PSI: 55 🟢
· MXCD: 0.4 🟢
· Trend: Bullish 🟢
· Momentum: +2% 🟢
Example 2: Good Sell
· 🔻 Strong sell signal
· PSI: 80 🔴
· MXCD: -0.5 🔴
· Trend: Bearish 🔴
· Momentum: -3% 🔴
Example 3: Wait
· No clear signal
· PSI: 70 ⚠️ (on the edge)
· MXCD: 0.1 ⚠️ (weak)
· Trend: Sideways ⚠️
💡 Usage Tips:
Use the indicator with:
· ✅ Candlestick analysis
· ✅ Fundamental news
· ✅ Capital management
Avoid:
· ❌ Relying on the indicator alone
· ❌ Entering without stop loss
· ❌ Trading against the overall trend
⚙️ Optimal Settings:
For Sideways Markets:
· Use regular signals △ ▽
· Focus on support & resistance areas
For Trending Markets:
· Use strong signals 🟢 🔴
· Follow moving average direction
🎯 New Features:
1. Clearer signals - Visible directly on the chart
2. Simpler conditions - More signals appear
3. Auxiliary indicators - Help with confirmation
4. Alerts - Notify you of strong signals
The indicator is now more effective and easier to use! 🚀
👀 Visual Signals on the Chart:
🐋 Whale Buy:
· Color: Gold
· Shape: Large label
· Text: 🐋
· Location: Below candle
🦈 Whale Sell:
· Color: Purple
· Shape: Large label
· Text: 🦈
· Location: Above candle
📊 Alert Display in Table:
In the table you'll see:
· 🐋 Whale Buy: Yes/No
· 🦈 Whale Sell: Yes/No
· Whale Activity: 🔥 Very Active / ⚡ Active / 💡 Moderate / 💤 Calm
🎯 Whale Signal Conditions:
For Whale Buy 🐋:
· Trading volume 3x average ✅
· MXCD > 0.3 ✅
· PSI > 55 ✅
· Close price > Open price ✅
For Whale Sell 🦈:
· Trading volume 3x average ✅
· MXCD < -0.3 ✅
· PSI < 45 ✅
· Close price < Open price ✅
💡 Tips for Maximizing Alerts:
For Instant Alerts:
· Enable notifications on mobile
· Use distinctive tone for whale alerts
· Apply indicator to your important assets
For Continuous Monitoring:
· Regularly check the table
· Watch whale activity levels
· Monitor volume changes
🚨 When to Trust Whale Signals:
Trust when:
· ✅ Volume is huge (200%+)
· ✅ Coincides with key levels
· ✅ Confirmed by other indicators
· ✅ Clear market trend
Be cautious when:
· ❌ Single signal without confirmation
· ❌ During major news events
· ❌ Against general trend
⚙️ To Activate Alerts:
1. Right-click on chart
2. Select "Add Alert"
3. In "Condition" section:
· Select indicator name
· Choose "Whale Buy" or "Whale Sell"
4. Set preferred alert method
Now you'll receive alerts when whales move! 🎯
Previous Periods Highs and Lows + LabelsThis indicator plots the high and low prices from the previous Day, Week, and Month as horizontal lines on any timeframe chart. It provides clear visual reference to key historical support and resistance levels commonly used by traders for: breakout and reversal identification
stop-loss placement
target setting
Features include distinct colors for each period and optional price labels displayed on the right side of the chart for quick reference.Simple, non-repainting, and optimized for both intraday and swing trading setups.
Magic PP TouchLets make this bread, magic hour pattern
Wait for a break above the high or low and then enter in opposite direction.
Chan Lun Full Setup: 1,2,3 Buy/Sell [Fisrt]Chan Lun Quarterly Notes
v1.0 – Pure Edition (Standalone)
Fractal Settings: The default fractal confirmation is set to 5 bars. This provides higher reliability (certainty) but lower sensitivity/lag.
High Volatility: For assets with high volatility, you can change the setting to 3 bars for faster confirmation. Simply adjust the Fractal Length input.
Disclaimer: This does not constitute investment advice. It is highly recommended to combine this with fundamental analysis for multi-dimensional decision-making.
"As the Master said, relying solely on technical analysis is not a sustainable long-term path."
Chan Lun Full Setup: 1,2,3 Buy/Sell [Fisrt]Chan Lun Quarterly Notes
v1.0 – Pure Edition (Standalone)
Fractal Settings: The default fractal confirmation is set to 5 bars. This provides higher reliability (certainty) but lower sensitivity/lag.
High Volatility: For assets with high volatility, you can change the setting to 3 bars for faster confirmation. Simply adjust the Fractal Length input.
Disclaimer: This does not constitute investment advice. It is highly recommended to combine this with fundamental analysis for multi-dimensional decision-making.
"As the Master said, relying solely on technical analysis is not a sustainable long-term path."
No Wick Candle AlertNo Wick Candle Alert is a price-action indicator designed to identify strong momentum candles with no lower wick, signaling decisive buying or selling pressure.
This indicator automatically scans the chart and highlights:
Bullish candles with no lower wick (open = low)
Bearish candles with no lower wick (close = low)
When such a candle appears:
A clear visual marker is plotted slightly away from the candle (so it does not overlap)
An automatic alert is triggered to notify you in real time
🔹 Key Features
Detects true no-wick candles with precision
Works on any market (Forex, Crypto, Indices, Stocks)
Designed for 15-minute timeframe price action (can be adapted)
Non-repainting alerts (confirmed candle close)
Clean and minimal chart display
🔹 How Traders Use It
No-wick candles often indicate strong institutional pressure and can be used for:
Momentum confirmation
Breakout validation
Entry timing in price-action strategies
Confluence with support & resistance or session opens
🔹 Alerts
Once enabled, the indicator sends an alert immediately after the candle closes, allowing you to react without watching the screen.
No Wick Candle AlertNo Wick Candle Alert is a price-action indicator designed to identify strong momentum candles with no lower wick, signaling decisive buying or selling pressure.
This indicator automatically scans the chart and highlights:
Bullish candles with no lower wick (open = low)
Bearish candles with no lower wick (close = low)
When such a candle appears:
A clear visual marker is plotted slightly away from the candle (so it does not overlap)
An automatic alert is triggered to notify you in real time
🔹 Key Features
Detects true no-wick candles with precision
Works on any market (Forex, Crypto, Indices, Stocks)
Designed for 15-minute timeframe price action (can be adapted)
Non-repainting alerts (confirmed candle close)
Clean and minimal chart display
🔹 How Traders Use It
No-wick candles often indicate strong institutional pressure and can be used for:
Momentum confirmation
Breakout validation
Entry timing in price-action strategies
Confluence with support & resistance or session opens
🔹 Alerts
Once enabled, the indicator sends an alert immediately after the candle closes, allowing you to react without watching the screen.
Previous D/W/M OHLC LevelsPlots the previous completed Daily, Weekly, and Monthly Open, High, Low, and Close prices as horizontal levels on any timeframe.
Clean, lightweight, and trader-friendly:
• Previous Day (PDH/PDL) – light blue
• Previous Week (PWH/PWL) – gold
• Previous Month (PMH/PML) – orange-red
Great for support/resistance, breakout strategies, mean reversion, and keeping higher-timeframe context visible at a glance.
Simple, no repainting, works on all instruments and timeframes.
Wick Analysis Chart [LTS]Wick Analysis Chart - Advanced Price Rejection Visualization
Overview
The Wick Analysis Chart is a specialized oscillator that measures and visualizes price rejection strength by analyzing candle wicks relative to their body sizes. Unlike traditional wick analysis that uses raw price differences, this indicator converts wick measurements into percentage ratios, making them comparable across different instruments, timeframes, and market conditions.
The indicator emphasizes significant price rejections by incorporating volume-weighted calculations with selectable scaling methods (linear, logarithmic, or square root), while filtering out noise through multiple customizable filters including ATR-based volatility filtering, wick size thresholds, and doji detection.
What Makes This Original
This indicator combines several unique analytical approaches not commonly found together:
Percentage-based wick ratios rather than absolute price measurements, enabling cross-instrument and cross-timeframe comparisons
Volume weighting applied BEFORE filtering to ensure high-volume rejections aren't excluded
Three distinct volume scaling methods (linear, logarithmic, square root) to accommodate different trading styles and prevent chart compression
Multi-layer filtering system combining ATR volatility thresholds, minimum wick size requirements, and doji detection
Intelligent plot ordering that ensures smaller wick components remain visible when displaying both upper and lower wicks simultaneously
Color-coded rejection direction showing bullish rejections (lower wick dominant) versus bearish rejections (upper wick dominant)
How It Works
Core Calculation
The indicator calculates wick-to-body ratios as percentages:
Total Wick % = (Upper Wick + Lower Wick) / Body Size × 100
Upper Wick % = Upper Wick / Body Size × 100
Lower Wick % = Lower Wick / Body Size × 100
A 200% total wick value means the combined wicks are twice the size of the candle body, indicating strong price rejection.
Volume Weighting
Volume weighting is applied to emphasize rejections that occur on significant volume. The indicator offers three scaling methods:
Linear Scaling: Direct volume multiplier (2x volume = 2x display value). Best for dramatic emphasis on volume spikes. Suitable for scalping and intraday trading where volume surges signal important levels.
Logarithmic Scaling: Diminishing returns on extreme volume using the formula: multiplier = 1 + log(volume ratio). A 10x volume spike produces only ~3.3x emphasis. Best for preventing chart compression while maintaining volume awareness. Ideal for swing trading and multi-timeframe analysis.
Square Root Scaling: Balanced approach using square root of volume ratio. A 4x volume spike produces 2x emphasis. Provides middle ground between linear and logarithmic. Suitable for most day trading applications.
Filtering System
Three independent filters work together to eliminate noise:
ATR Filter: Removes candles whose total range is below a specified percentage of the Average True Range. This filters out low-volatility consolidation periods, focusing analysis on meaningful price movements.
Wick Size Filter: Removes candles whose volume-weighted wick percentage is below the threshold. This ensures only significant rejections are displayed, even if the candle met the ATR requirement.
Doji Filter: Automatically filters candles where the body is smaller than the specified percentage of total range. Doji candles produce extreme wick ratios that can skew the chart scale.
Calculation Flow
1. Calculate base wick-to-body percentages
2. Apply volume weighting using selected scaling method
3. Check ATR filter (if enabled)
4. Check wick size filter using volume-weighted values (if enabled)
5. Check doji filter
6. Display final values if all filters pass
How To Use
Display Configuration
Total Wick Value: Shows combined upper and lower wick size. Color indicates rejection direction - green when lower wick dominates (buyers rejected downside), red when upper wick dominates (sellers rejected upside).
Upper Wick Value: Isolated upper wick measurement. Useful for identifying supply zones and resistance rejection.
Lower Wick Value: Isolated lower wick measurement. Useful for identifying demand zones and support rejection.
When both upper and lower wicks are displayed simultaneously, the indicator automatically plots them in size order so the smaller value remains visible.
Volume Weighting Setup
Enable volume weighting and select your preferred scaling method based on trading style:
Linear: Maximum emphasis on volume, accepts potential chart compression
Logarithmic: Minimal chart compression, subtle volume emphasis
Square Root: Balanced approach for most applications
Adjust Volume Average Length based on your timeframe (shorter for intraday, longer for swing trading).
Filter Configuration
ATR Filter: Start with 80% to focus on above-average volatility moves. Increase to 100%+ for only the most volatile candles, or decrease to 60-70% to include more data.
Wick Size Filter: Start with 50% to show wicks at least half the body size. Increase to 75-100% for only the most significant rejections, or decrease to 25% for more sensitivity.
Doji Threshold: Default 5% works well for most markets. Increase for markets with frequent small-bodied candles.
Reference Levels
100% Line (Equilibrium): Represents 1:1 wick-to-body ratio. Values above this line indicate wicks larger than the body.
Extreme Level: User-defined threshold for alerts. Default 500% means wicks are 5x the body size. Adjust based on your instrument and filter settings with volume weighting enabled.
Trading Applications
Identifying Key Levels: Large wick percentages with high volume often mark important support/resistance levels where significant orders absorbed price movement.
Trend Exhaustion: Increasing wick percentages at trend extremes, especially with declining volume weighting, can signal momentum loss.
Breakout Validation: Breakout candles with small wicks (low percentage values) suggest conviction, while large wicks suggest rejection and potential false breakouts.
Session Analysis: Compare wick percentages across different trading sessions to identify when the most significant rejections occur.
Mean Reversion Setups: Extreme wick percentages above your threshold level, particularly when colored green (bullish rejection) at support or red (bearish rejection) at resistance, can signal high-probability reversal zones.
Alerts
The indicator includes an alert condition that triggers when the total wick value exceeds the extreme level. Configure the extreme level based on your backtesting to match your instrument's characteristics and filter settings.
Settings Summary
Display Options
Show Total/Upper/Lower Wick Value: Toggle visibility
Color selections for bullish/bearish total wicks and upper/lower components
Volume Weighting
Apply Volume Weighting: Enable/disable volume emphasis
Volume Average Length: Period for volume SMA comparison (default: 20)
Volume Scaling Method: Linear/Logarithmic/Square Root
ATR Filter
Apply ATR Filter: Enable/disable volatility-based filtering
ATR Length: Period for ATR calculation (default: 14)
Filter Percent: Minimum candle range as % of ATR (default: 80%)
Wick Size Filter
Apply Wick Size Filter: Enable/disable wick size threshold
Minimum Wick %: Minimum volume-weighted wick percentage (default: 50%)
Advanced
Doji Threshold: Body size as % of range for doji detection (default: 5%)
Reference Levels
Show Reference Levels: Toggle horizontal reference lines
Extreme Level: Threshold for extreme wick values and alerts (default: 500%)
