Wick/Tail Candle MeasurementsThis indicator runs on trading view. It was programmed with pine script v5.
Once the indicator is running you can scroll your chart to any year or date on the chart, then for the input select the date your interested in knowing the length of the tails and wicks from a bar and their lengths are measured in points.
To move the measurement, you can select the vertical bar built into the indicator AFTER clicking the green label and moving it around using the vertical bar *only*. You must click the vertical bar in the middle of the label to move the indicator calculation to another bar. You can also just select the date using the input as mentioned. This indicator calculates just one bar at a time.
measurements are from bar OPEN to bar HIGH for measured WICKS regardless of the bar being long or short and from bar OPEN to bar LOW for measured TAILS also regardless of the bar being long or short.
This indicator calculates tails and wicks including the bar body in the calculations. Basically showing you how much the market moved in a certain direction for the entire duration of that Doji candle.
Its designed to measure completed bars on the daily futures charts. (Dow Jones, ES&P500, Nasdaq, Russell 2000, etc) Although it may work well on other markets. The indicator could easily be tweaked in order to work well with other markets. It is not designed for forex markets currently.
Wicks
Wicks Rejection PercentagesAnalyzing wick rejection percentages can provide insights into market sentiment and potential future price movements. For example, high wick rejection percentages at key support or resistance levels may indicate strong buying or selling interest and could influence trading decisions.
HTF FVG and Wick Fill trackingImbalances in the charts are some of the clearest and most traded price areas. Two of the best and most used are fair value gaps FVGs and large candle wicks. In both of these price appears to move in such a way that most are left behind having 'missed' the move. But in reality price will often come back to these price points to re-balance and absorb the liquidity that was left behind.
This indicator takes these areas and makes viewing and tracking them clearer than ever. It does this, by first allowing the user to overlay a higher timeframe candle on the current chart. This in itself provides an in depth look at a higher timeframe candle both as it forms and in its final form.
Next the indicator identifies either the FVG or large wicks, on the chosen higher timeframe, all while the chart remains on a lower timeframe. As seen here the fair value gaps are clearly highlighted, taken from a 4 hour timeframe, while the actual chart is on 15 minutes. This allows the user even greater accuracy in identifying their key trading areas.
Utilizing the indicators unique feature, these areas can optionally be extended forward to the current timeframe and 'filled' in realtime. Areas that are filled to the users defined level, will be removed from the chart.
With supplementary settings for how much history to show, how large of a wick should be highlighted and complete control over the colour scheme, users will be able to track and understand the filling of imbalances like never before.
Wick %Heyo Fellas,
thanks for checking out my new indicator.
Introduction
Wick % is a simple indicator to compare wick size with body size (mode 1) and to compare wick size with candle size (mode 2).
Upper wicks are bullish when close is higher than open pricen.
Lower wicks are bearish when close is lower than open price.
Wick Theory
In general, big wick and small bodie on a bar means that bull and bears are fighting heavily.
A big wick below the body means the bulls are leading in that fight,
and a big wick above the body means the bears are leading in that fight.
Calculation Formula
Mode 1 – Percentual Increase Wick/Body:
upperWickPercentage = (upperWick / body) * 100 - 100
lowerWickPercentage = (lowerWick / body) * 100 - 100
Mode 2 – Percent Wick/Candlestick:
upperWickPercentage = (upperWick / (high - low)) * 100
lowerWickPercentage = (lowerWick / (high - low)) * 100
Usage
You can use it on every symbol and every timeframe.
The indicator repaints by default, but you can disable it in the settings.
When you disable repaint, it moves the label one bar to the right.
If you want to use the indicator for signals, you must disable repainting.
Best regards,
simwai
Liquidity Hunter [ChartPrime]The Liquidity Hunter helps traders identify areas in the market where reversals may occur by analyzing candle formations and structures.
█ Wick-to-Body Analysis:
The Liquidity Hunter analyses each candlestick to identify those with distinctive wick-to-body ratios. By focusing on candles with significant wick imbalances, it can reveal potential liquidity absorption zones that may influence market behavior. Users can fine-tune this ratio to their preferences through customizable body% and wick% inputs, allowing for tailored analysis.
█ Body Size Significance:
To ensure the relevance and impact of its findings, this indicator evaluates the size of the candle body.
Only candles with bodies meeting a certain size threshold are considered, eliminating noise and highlighting candles of significance.
█ Dynamic Target Setting:
The Liquidity Hunter employs the Average True Range (ATR) as a foundation for target calculation. Users can adjust their trading targets by specifying a multiplier, offering flexibility in capturing potential profit or managing risk. Customizable target inputs ensure adaptability to your trading strategy.
█ Stop Loss Protection:
In addition to setting your profit targets, the Liquidity Hunter incorporates stop loss levels, safeguarding your investments from excessive risk. By implementing a well-balanced risk-reward ratio, users may be better at navigating market fluctuations.
█ Market Character Labels:
The Liquidity Hunter Indicator goes beyond basic analysis by detecting changes in market character. It identifies shifts in sentiment providing traders with invaluable insights into evolving market conditions.
█ Candle Color Highlighting:
To enhance user-friendliness and visualization, the indicator employs distinctive candle colors between trades. These color cues help you easily spot and interpret trading opportunities, drawing your attention to potential entry and exit points.
Overall this indicator is designed to help simplify liquidity analysis and give visual targets in a market.
Liquidity Spike PoolThe “Liquidity Pools” indicator is a tool for market analysts that stands out for its ability to clearly project the intricate zones of manipulation present in financial markets. These crucial territories emerge when supply or demand takes over, resulting in long shadows (wicks) on the chart candles. Imagine these regions as "magnets" for prices, as they represent authentic "liquidity pools" where the flow of money into the market is significantly concentrated. But the value of the indicator goes beyond this simple visualization: these zones, when identified and interpreted correctly, can play a crucial role for traders looking for profitable entry points. They can mutate into important bastions of support or resistance, providing traders with key anchor points to make informed decisions within their trading strategies.
A key aspect to consider is the importance of different time frames in analyzing markets. Larger time frames, such as daily or 4h, tend to host larger and more relevant liquidity zones. Therefore, a successful strategy might involve identifying these areas of manipulation over longer time frames through the use of this indicator, and then applying these findings to shorter time frames. This approach allows you to turn manipulation zones into crucial reference points that merit constant surveillance while making trading decisions on shorter time frames.
The indicator uses color to convey information clearly and effectively:
- Dark blue lines highlight candles with significant upper wick, signaling the possible presence of an important manipulation area in the considered area.
- Dark red lines are reserved for sizable candlesticks with significant upper wick, emphasizing situations that are particularly relevant to traders.
- Dark gray lines highlight candles with significant lower wick, providing a valuable indication of manipulation zones where the bid may have prevailed.
- White lines highlight sizable candlesticks with significant lower wick, clearly indicating situations where demand has been predominant and may have helped form a liquidity pool.
This indicator constitutes an important resource for identifying and clearly displaying candles with significant wicks, allowing traders to distinguish between ordinary market conditions and circumstances particularly relevant to their trading strategies. Thanks to the distinctive colors of the lines, the indicator offers intuitive visual guidance, allowing traders to make more informed decisions while carrying out their analyses.
Cuck WickAcknowledgement
This indicator is dedicated to my friend Alexandru who saved me from one of these scam cuck wicks which almost liquidated me.
Alexandru is one of the best scalpers out there and he always nails his entries at the tip of these wicks.
This inspired me to create this indicator.
What's a cuck wick?
It's that fast stop-hunting wick that cucks everyone by triggering their stop-loss and liquidation.
Liquidity is the lifeblood of stock market and liquidation is the process that moves price.
This indicator will identify when a liquidity pool is getting raided to trigger buy or sell stops, they are also know as stop-hunts.
How does it work?
When market consolidates in one direction, it builds up liquidity zones.
Market maker will break out of these consolidation phases by having dramatic price action to either pump or dump to raid these liquidity zones.
This is also called stop-hunts or liquidity raids. After that it will start reversing back to the opposite direction.
This is most noticeable by the length of the wick of a given candle in a very short amount of time and the total size of the candle.
This indicator highlights them accordingly.
Settings
Wick and Candle ratio works with default values but finetune will enhance user experience and usability.
Wick Ratio: Size of the wick compared to body of a candle.
Adjust this to higher ratio on smaller timeframe or smaller ratio on bigger timeframe to your trading style to spot a trend reversal.
Candle Ratio: The size of the candle, by default it is 0.75% of the current price.
For example, if BTC is at 20,000 then the size of the candle has to be minimum 150.
This can be fine tuned to bigger candle size on higher time frames or smaller for shorter timeframe depending on the trade type.
How to use it?
This indicator will identify when a liquidity pool is getting raided to trigger buy or sell stops, they are also know as stop-hunts. It can be used of its own for scalping but there are also a good few indicators which would most definitely help to confluence bigger timeframe trades.
Scalp
This indicator shows the most chaotic moments in price action; therefore it works best on smaller timeframes, ideally 3 or 5 minute candle.
- Wait for the market to start pumping or dumping.
- Current candle will change colour (Bullish/Bearish).
- Enter trade as soon as price starts to reverse back.
- Place the stop-loss outside of the current candle.
- Wait for the cuck wick to appear as confirmation.
Price is very chaotic during a liquidity stop-hunt raid but there is a saying:
"In the midst of chaos, there is also opportunity" - Sun-Tzu
Since this is a very high risk, high reward strategy; it is advised to practice on paper trade first.
Practice until perfection and this indicator would be the perfect bread and butter scalp confirmation.
Fair Value Gap
FVG strategy is the most accurate in conjunction with this indicator.
Normally price would reverse after consuming fair value gaps but often it's difficult to know when and where.
This indicator would identify those crucial entry points for reverse course direction of the price action.
Support and Resistance
This indicator can also be used in conjunction with support and resistance lines.
Generally the cuck will go deep below the support or spike much further up the resistance lines to liquidate positions.
Bollinger Bands
Bolling Bands strategy would be to wait until the price breaks out of the band.
Once the wick is formed, it would be an ideal entry point.
Script change
This is an open-source script and feel free to modify according to your need and to amplify your existing strategy.
wick CE; plot candle wick and tail midpoint lines-Simple little tool to plot the wick CE: an ICT concept, consequent encroachment i.e. the midpoint line of a wick or tail; it being a potentially sensitive level (depending on context).
-Wrote this to save me time drawing out fib retracement to locate the precise level of the wick CE. Example usage: show indicator, add horizontal ray over favored wick CE level, hide indicator.
~choose how many consecutive bars back to plot wick CE lines.
~choose how many bars forward to extend the wick CE lines.
[ChasinAlts] SuppRe-me ZonesHello fellow tradeurs, I couldn't find one similar on TV so wanted to make it.. Took me a little while to figure some things out as I am in new coding territory with this script. I had a hard time finding ways to make only a partial zone/box disappear if price only crossed part of it. Nonetheless, I figured it out so I hope you enjoy the outcome. Now, allow me to take a second to first explain the utility that is this script...or at least expose my reasoning when I decided to go ahead with this little project and take the precious time necessary to learn parts of pine that I did not previously know how to deal with. Ultimately, I built this for the 1s-15s TF(except for the "Consecutive Bars/Large Bars" Boxes...Those were meant to use on both these second TFs and Higher TFs.... ). The reasoning behind all of this was to give me a more definitive answer to all of my questions regarding the speed at which it would take price to revisit areas that it very abruptly went to/left on a VERY short TF (like the 1sec charts)...or even if it EVER would). To determine this I wanted to draw lines starting at the end of large wicks, draw boxes spanning the entire span of large wicks, and lastly to draw boxes spanning the entire span of very large bodies. For this last one, not only did I want to draw a box on a single candle that possessed a large body but also if there were consecutive red candles in a row, their bodies could be summed up and if this summation exceeds the minimum body % threshold then it too counts just like a single large candled body would if it was larger than the threshold. All in all I really enjoyed this script and most importantly the data that it produces. What I found after coding the script was that (again on the 1 sec- 15 sec charts) was that price very quickly (relatively speaking I suppose) came back over these box/zoned areas and that the lines drawn from the tip of the large wicks would at some point in the near future act as very good support and resistance for price to either bounce off of or breakout from.
Now, with each of these objects you can choose to delete them when price crosses the object or have them continuously drawn on the chart...your call...but it gets awful messy sometimes if you let them continue printing.
Peace and love people...peace and love,
-ChasinAlts
Buying & Selling PressureBuying and selling pressure is a volatility indicator which denotes the balance between buyers and sellers inside candlestick.
You set the length to average it just like ATR. But This offers further break down of participants of the market.
Pretty much at any condition of the market the indicator can filter out interesting details to make trading decisions faster or confirm them.
So keep it simple we have two lines
🟢 Green → buying pressure
🔴 Red → selling pressure
If green is rising → Price most likely will grow
If green is rising and red is falling → Price will grow at higher probability
If red is rising → Price most likely will fall
If red is rising and green is falling → Price will fall at higher probability
When they both grow or fall → wait till one of them goes opposite way.
╳ Crossings can indicate turning points for bigger price swings.
Technically by very act of intersecting means that Buying and Selling Pressure are equal.
Can be used for Demand/Supply analysis and evaluate the support/resistance levels.
Wick-off Check Pattern [Misu]█ This Indicator shows a wick-off check pattern.
This pattern appears when a candle goes below a level (support or resistance) and closes above it OR when it goes above a level and finishes below it. This causes a wick to go through the level: a wick-off check .
This can confirm a pullback or a breakout.
█ Usages:
This indicator can be used to validate a resistance or support level.
It can also be used to validate breaking levels.
█ Parameters:
Deviation: Parameter used to calculate pivots.
Depth: Parameter used to calculate pivots.
Wickoff Mode: Mode used to detect Wickoff check pattern.
> counter pattern: only shows "pullback" wickoff check.
> breakout pattern: only shows "breakout moves" wickoff check.
> both: shows both.
Lenght Avg Body: Lenght used to calculate the average body size.
First Breakout Factor:
Lenght Avg Wick Validation: This factor multiplied by the "body avg" filters out the non-significant breakout.
Factor Avg Wick Validation: Lenght used to calculate the average wick size.
Max Bars Wickoff: This factor multiplied by the "wick avg", filters out the non-significant wickoff signals.
Price Action SignalsIndicator that shows buy/sell signals based on price action as it relates to a 20 day moving average. If the candle is above the 20 day moving average, we look for candles with long wicks on the top indicating selling pressure. If the candle is below the 20 day moving average we look for candles with a long bottom wick indicating buying pressure. The rules for the wick and the price action can be modified by the user. The two user defined parameters are price movement and wick length.
For instance, the user can choose to only show arrows when candle has moved by X amount. The smaller the timeframe, the smaller the amount. I Recommended the following values when looking at SPY:
On a 1m chart: .10 cents
5min chart: .15 cents
15m chart: .25 cents
1h chart: 1 dollar,
1D chart: 2 dollars
Your mileage will vary.
With the wicks, you choose a percentage. You can choose to only show an arrow above or below a candle if the wick size is at least x% the size of the candle body.
Wick Pressure by SiddWolfMultiple Wicks forming at OverSold & OverBought levels create Buying and Selling Pressure. This Script tries to capture the essence of the buy and sell pressure created by those wicks. Wick pressure shows that the trend is Exhausted.
How it works:
This Wick Pressure Indicator checks for three candles forming the wicks in overbought and oversold zones. The zones are set by RSI and can be changed in settings. Those three candles should form a bit long wick and length of the wick is determined by ATR. The ATR multiple can be changed from settings. And then the script draws a box in the area formed by three candle wicks.
Confluence:
This indicator should not be used on its own. You should include it in your existing trading strategy. Any indicator should be rigorously tested before making any real trades.
Settings is the Key:
Settings are key to all of my indicators. Play around with it a bit. Change the ATR multiplier. Read the tooltips to understand what each settings mean. Tooltips are the (i) button in-front of each settings.
FAQs:
Q. Does the indicator Repaint ?
--- No. None of my indicators repaints. What you see now is what's drawn in real time.
Q. Indicator doesn't show anything ?
--- Maybe you've messed up the settings so reset it. or try different coin/stock.
Q. Does this indicator give financial advice?
--- No. Nope. Nein. Não. नहीं.
Conclusion:
This indicator is very basic but if used correctly it can be very powerful. Hit me up if you'd like to see the screener/scanner for this or any of my indicators. If you have any questions or suggestions feel free to comment below. I'd love to connect with you. Thank you.
~ SiddWolf
NSDT Wick FinderThis script finds wicks that are longer than the candle body and marks them as potential trading zones to be revisited. Lines, shading, and lookback can all be modified.
Full credit for original code goes to @Squam_Gobaloochee. We updated to Pinescript V5 and cleaned up code. We reached out to original for permission to repost publicly and open source.
EMA MTF PlusI like trading the 1 minute and 3 minutes time-frames. I'm what is commonly called a "scalper". Long term investments yes, I have some, but for trading, I don't have neither the time,
nor the patience to wait hours or days for my trade to be complete.
This doesn't mean I discount the higher time-frames, no, I actually rely heavily on them. I found that EMAs do a decent job as support/resistance, sometimes to a tick level of precision. And this is important for a 1 minute trader.
As such, I made this script that tracks the higher time-frames EMAs and displays the last value as a line.
I do not need the whole EMA, I'm not interested in crossovers or crossunders, these are anyway late signals for me.
What's with the triangles? These are local tops/bottoms , candles that have a have decent size of the wick. These tops and bottoms are by no means "final", they are merely a rejection at certain levels of price. Due to markets complexities (and human erratic behaviors hehe) these levels could be breached at the very next candle. For a more "final" version (nothing is really final but..) I added Schaff Trend Cycle as filter, so a triangle will pop only when a trend is mature enough ( STC with a value near 0 or near 100).
Colored bars. When the body of the candle is big, it shows strength. Strong bars tend to have follow through, especially when breaking key levels. The script looks at the body of the candle and compares it with ATR (Average True Range), if it's at least 0.8 of ATR it changes the bar color to yellow (bull candles) or fuchsia(bear candles).
Range identifier. This code is copied from Lazy Bear (if there are any issues please let me know), it's very useful in conjunction with colored bars.
I look for breakout candles that go outside of the range as a signal for a trade.
There are many ways in which this script can be useful, like trading mean reversions or momentum trades (breakouts) or simply trend following trades.
I hope you guys find it useful, you can play with default values and change them as you like, these are what I found to be working best for me and my trading universe (mostly crypto).
Special thanks for the original work of:
LazyBear
everget
Jim8080
Wicked signalsThis indicator plots an RSI based MACD, I find it easier to spot divergences on histogram.
Also, it looks for candlestick wicks and finds SOME local tops and bottoms. NOT ALL OF THEM, beware of that.
Use it in conjunction with other things, don't rely solely on this for trading
Body/Wick to Range Osc.This script is meant to be a form of pure candlestick analysis.
Terminology in the description used below is as follows:
- numcands = Number of candles specified by the user to be used for sampling in each moving average.
This script plots moving average (SMA/EMA specified by the user ) of the percentage of the high-low range that the previous {numcands} candles the upper wicks, lower wicks, and the body take up.
The user may specify if the absolute value of the body percentage is to be used (true by default). To account for this, a horizontal line is also plotted at 0 to show when the body percentage moves above or below 0.
The values that all of these moving averages plotted will oscillate between 0 and 1 (-1 and 1 for the body percentage if the absolute value of candles is not used).
Other notes: The user may select the colors used (colorblind support, as the defaults are red and green). Cross overs and cross unders are accounted for in alertconditions (as is if the body % moves above and below 0% if absolute values are not used).
An interpretation of the use of this script may be: If the upper wicks begin to take up a larger portion of the high-low range, it may signal downward selling pressure (and vise-versa for lower wicks). However, this may be open to interpretation based upon the specified {numcands} used.
ERSIInstead of the RSI which only uses the close of the market to calculate RSI, this indicator uses the Open, Close, High and Low individually to give four unique data points which are then drawn as candlesticks in place of the regular RSI.
Fat Fingers studyIt often happens that prices moves to fast below or above the previous price levels. A very large wick up or down the candle are formed then.
These wicks are Fat fingers because they are very large in comparison wiith the other wicks.
Fat fingers study is a simple but effective way to detect these fat fingers.
HOW TO USE:
Set the percentage of the wicks for upward movement or downward movement.
Note!
These values are different for each market.
Markets:
It can be used to all markets.
Moving Average of Upper and Lower Wicks with optional smoothingIn the book, The New Technical Trader by Tushar Chande and Stanley Kroll there is a part that talks about candlestick analysis and how the wicks play a role on how the price will behave. When wick lengths increase then there could be uncertainty. Weakening of support and resistance levels can also be seen by the size of the candlestick wicks or shadows. Shoutouts to Mango2Juice from Tradingview and the The Academy of Forex for helping me out in making this and providing the moving averages function.
When combined with other indicators or strategies, I find that this increases their accuracy when used correctly. For those that believe in price action, this might be worth a try. The book has only a brief section on candlestick wicks but it is one of the most interesting ideas I found. The book likes to include a simple moving average in its indicators with a certain length to provide a smoothing type of effect or a sort of extra indicator for the other to be above to give off quicker signals at the cost of accuracy. For this indicator it acts as a smoothing type effect which I put in because it is hard to see the slope and direction of where the moving averages of the wicks are going. The type of moving averages to use and the correct lengths are questionable and are not explained well in the book. If anyone can figure out a good use for this or know better settings or tips, please let me know.
Donchian WicksNote: This script does not perform well on its own and is meant to inspire other coders, just sharing it because why not :)
The idea is simple, highest only gets calculated for green candles, lowest only gets calculated for red candles. a yellow dot gets created when a candle gets below lowest line and closes bullish, vise versa for red dots.
Hope someone can use it.
Shadow MAShadow/Wick Moving Average
- Moving Average comparing top and bottom Shadow / Wick length
- Shadows represent price levels that have been hit, but did not close
- Not an all-purpose, all-in-one indicator for entry and exit
- Used as a visual aid to better understand price movement. For example. if price is bearish, but the Shadow MA is showing high, positive values, it is a sign that price is not tending to close at its highest point; therefore, there is bearish resistance.
- Can be used in combination with momentum oscillators and trend analysis.
