Precise Wick Boxes with Full Customization

16 Ogo

This Pine Script draws precise wick-based boxes to visualize buying and selling pressure.

Green candles (buyers): If the lower wick is proportionally large compared to the candle body, a box is drawn with different strength levels (Strong Buyer, Buyer Active, Buyer Present).

Red candles (sellers): Similarly, if the upper wick is large, a box is drawn showing (Strong Seller, Seller Active, Seller Present).

Boxes are fully customizable (width, colors, texts, offsets, text size).

This helps traders quickly identify strong buyer and seller reactions.

19 Ogo

Nota Keluaran

1️⃣ How the current script generates signals

Buy Signal → calculated only on green candles (close > open).

Sell Signal → calculated only on red candles (close < open).

There is no logic that checks bottoms or tops independently of candle color.

2️⃣ Human errors the script avoids

Misplaced buys on red candles: The script prevents a box from appearing as a “Buyer” on a red candle.

Misplaced sells on green candles: Similarly, Seller boxes appear only on red candles.

Over-interpretation: Humans might quickly think, “oh, the price is dropping, I’ll buy now” – the script enforces consistency: green = Buy, red = Sell.

3️⃣ Limitations of the script – human errors still possible

Bottom vs. Top ignored: The script does not check if the wick marks the bottom or top. You could have a green candle in the middle of a downtrend → mistakenly marked as a Buy box.

Trend and context ignored: Only candle color + wick ratio is used. No filter for higher trends, support/resistance, or other indicators.

No signal validity: A green wick at the bottom may not be a real buy signal in the short term; the same applies to red candles.

4️⃣ Conclusion

✅ Protects against:

Buy boxes on red candles

Sell boxes on green candles

⚠️ Does not protect against:

Wrong timing (buying bottoms, selling tops)

Trend and context mistakes

Over-interpretation of wick ratios as a signal