Universal No Wick Strategy

The strategy assumes that strong directional intent is best expressed by no-wick candles (full-body candles with no rejection on one side), but only when they appear in alignment with the prevailing market structure. Trades are taken exclusively in the direction of the active structure and are invalidated immediately on structural change.

Key Components

1. Trend Filter

Two selectable methods:

Market Structure (default): Uses swing highs/lows to define bullish or bearish structure.

EMA Filter: Trades only above/below a configurable EMA.

Only one directional bias is allowed at any time (LONG-only or SHORT-only).

2. Market Structure Engine

ZigZag-based swing detection.

Automatic classification of:

Higher Highs (HH), Higher Lows (HL)

Lower Highs (LH), Lower Lows (LL)

Detects and visualizes:

Change of Character (ChoCH) – trend shift

Break of Structure (BOS) – trend continuation

Any ChoCH immediately cancels opposing pending orders.

3. No-Wick Candle Logic

Bullish no-wick: open = low, close > open

Bearish no-wick: open = high, close < open

Signals are only valid if:

They align with current structure

No position or conflicting pending order exists

Optional candle coloring and compensation lines for visual clarity.

4. HTF Candle Start Confluence

Optional detection of no-wick candles at:

30-minute

1-hour

4-hour candle opens

Visual markers prioritize higher timeframes.

Alerts available for each HTF start condition.

5. Trade Execution & Risk Management

Limit entries at candle open.

Stop Loss:

ATR-based, configurable multiplier.

Take Profit:

Defined as a multiple of SL (R-based).

Orders are automatically canceled if:

Not filled within a defined number of candles.

Market structure changes (ChoCH).

Supports fixed contract sizing.

6. Session Filter

Optional trading session restriction.

Fully configurable session time and timezone.

Visual background highlighting for active sessions.

7. Visual & Informational Tools

Entry and Stop Loss zones plotted as boxes.

Historical entry, SL, and TP lines.

Real-time info table displaying:

Current structure

Allowed trade direction

HTF candle start

Position and pending orders

Active SL and TP levels

8. Alerts

ChoCH (bullish / bearish)

BOS (bullish / bearish)

No-wick signals at 30M, 1H, and 4H candle starts

Intended Use

This strategy is designed for traders who:

Focus on market structure and clean price action

Prefer high-precision entries over frequency

Want strict directional discipline

Value HTF timing and session-based filtering

It is suitable for backtesting, systematic discretionary trading, and automation-focused strategy development.