Instead 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.
It 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...
In 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...
Note: 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/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...
I made this for personal use, for a indicator, but bcs I dont see a script like this I wanted to just post it for other ppl. This is just a script that tells the candles based on %, including wicks. (wicks are inverted to save space and bcs I prefer it) This works for all markets.
Simple visualisation of Average True Range in Pinescript V4. The script has two modes: Running and Trailing. In Running mode, it continuously displays the ATR above and below the price. Specifically, it displays the High and Low price plus and minus the ATR times a user-supplied multiplier. This can be helpful for visualising volatility. In Trailing mode, it...
If you think of a perfect doji candle, where the wicks on top and bottom are exactly the same, that's a candle with a delta of 0. What this indicator does is show the delta/difference between wicks, if the top wick is longer than the bottom wick it show's sell pressure/bear interest, which is displayed as a red bar and vice versa for buy/bull pressure, which is...
Hey! This script is a remake from other's devs scripts. The * makes a signal if there is a higher high or lower low , RED( I don't know why looks orange )/LIME for WEEKLY and AQUA/YELLOW for a 36 hs WINDOW. You can change this parameter as u wish. The bar counter is simple. Let me know ur feedback.
Takes the length of the wicks on the tops and bottoms of each candle and plots them on their own to reduce the noise and to give an idea of whether the bulls or bears are being more insistent about direction. It also highlights the more aggressive wicks in black, which can be used to identify stop hunting if used in conjunction with support/resistance levels.
A means for tracking price ranges for gap up/down and longer buying/selling tails. This may have some value for buying/selling opportunities based on the relative significance of the range. The look back period is adjustable and works for any time frame. If you have any success using it leave some feedback. -Squam
Use this indicator/alerts when a wick touches one of the 5 EMA's (default 20,40,55,100,200 EMA, or you can set other MA types and lengths). Adjusted by Me for 20,40,55,100,200 EMA, other colors for EMA lines and tiny dots) Credits to user TradingView user: mgibson91 for base script.
This script measures the maximum and average length of upper and lower wicks. While this can be used as a volatility gauge and to see if there is more support or resistance, it's primary use is to not get wicked out on stops, by adding one of these numbers to the the Moving Average or S/R level that one is using for a Stop, plus maybe a few points of buffer.
Features: - Each moving average has customizable length, type and source - The ability to change the source of all moving averages with one input (changing an individual MA source will override the general for that MA) - At a glance comparison of 20 SMA and 20 VWMA to gauge volume trend - Wick alerts which can be toggled for each moving average. - Bullish...
This indicator shows easily the wicks of a candle showing potential rejection candles enjoy!
Measure of the total candle length, including the upper and lower wicks. Works best as a histogram in my opinion. Used as a quick reference for the high minus the low of each candle.