Indior that shows Wick size
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Thread: Indior that shows Wick size

  1. #1
    Can there be an indior out there which displays the Wick size of the bars in sort of a chart or something?

    This would be very useful if you trade wicks. . .put the EURUSD chart on and trade the direction of wicks which are 10pips or greater and have the stop loss several pips below the wick. . .go for a minimum of 5 pips profit. . .this seems to be very profitable by eyeballing the charts.

    If anyone can come up with this type of indior, we've got something very profitable in our hands!

    Please note, thanks!

  2. #2

  3. #3
    Hey there,

    I'd encounter that ribbon and indior and attempted to do a small modifiion but haven't come up with how to reveal Wick Size instead of overall Candle Size in the chart. . .what component should I mod?

    Thanks!

  4. #4
    When you say wick size, ok, you are feeling the high minus open and close without close for an candle. High minus open, close minus low for a downward candle? Am I correct? 1 for best wick and one for bottom wick? Or you simply need one of these?

  5. #5
    Had that in mind some time ago too.
    I would like something similar to the RSI with a 0 line in the middle.
    Every Wick above the candle is added to gt;0 and vice versa as
    a pub exactly enjoy the AO etc..
    This way you can see when smart money is selling into a bull rally and
    the gt; 0 wick gets bigger.

    I could also think of something like Net Wick Size.
    Example. Bar had a wick of -120 and 120 a reading is of 0 to the indior. Meaning indecision.
    Our next bar has a wick of 220 and -40 showing a 180 on the indior.
    This would be a pinbar that could push price back on the next candles.

  6. #6
    Not sure when I done it properly, but here it's....

    It shows you numerous pips above open,
    amount of pips below open, and the gap betwen them.

    Regards
    https://www.forexsoutheast.asia/atta...2091245268.mq4

  7. #7
    Mhh does not seem to be working.
    Current daily candle on EUR/USD includes a down wick of 220 Pips
    and a up wick of 31 Pips. Net Wick ought to be -189 Pips.
    I'd like to have this as a histogram in a sperate window.
    Must look like an AO indior from the Bill Willimas Section

    The calculation seems to be harder than expected.
    There are 2 instances. To get a Bear Candle (such as the candle I talked about)
    The Down Wick is (Low - Close) = -220 Pips and upwick is (High - Open) = 31 Pips
    To get a Bull candle up wick is ( High - Close) and down wick ( Low - Broad)

  8. #8
    I only bucked out this and I am not 100% sure it's what you're looking for.

    Allow me to know if it's not what you require, also simple, whatever.



    https://www.forexsoutheast.asia/atta...8905227977.mq4

  9. #9
    1 Attachment(s) That is ideal. All Calculations are correct!
    Could you alter it to look like this? See attachment.
    I like bars over lines. With traces you constantly think
    there's something in between.

  10. #10
    Thanks to everyone that replied...I altered the wick.mq4 indior somewhat more to get exactly what I was searching for. I made the indior show the wick size in Pips. It's connected...

    Now, how can you go about placing an Alert for whenever a Wick for your current candle is 10 pips or more? If you go and eyeball a chart, you can view that trading in the opposite direction of large pips can be profitable, considering you use excellent judgment .

    I've attempted automating this into an ExpertAdvisor and an automated system is designed to just follow a set of particular parameters and utilizing this method, a little bit of judgment is essential.

    Lets make this job!
    https://www.forexsoutheast.asia/atta...0209585872.mq4

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