A Candle Body and Wick Indicator for Assessing Price Impulses

Summary

This indicator estimates directional price pressure from candlestick bodies and wicks. It separates bullish, bearish, and neutral candles, then aggregates their body and wick measurements over short and longer rolling windows. The resulting components are combined into a force line and a directional cloud; the description says stronger candle impulses appear darker, while colored points indicate changing strength or weakness. A companion candle display can overlay those impulses on the price chart.

The document supplies indicator code, but no backtest, market examples, or performance evidence. Its entry-point interpretation is presented as a possible use rather than a validated signal, and the author cautions that an indicator does not prevent losses and should be part of a broader trading plan. Some variable references in the code appear inconsistent, so users should verify the implementation before relying on its output.

Key ideas

• The indicator separates candle bodies and wicks into bullish, bearish, and neutral components.
• It aggregates these components over two lookback windows to estimate directional force.
• A force line and color-coded cloud visualize changing pressure and candle impulses.
• The document provides code but no empirical evidence that the signals are profitable.
• The implementation should be checked for inconsistencies before use.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.