Candlestick Wick Lengths and Four Display Methods
Summary
The document describes an indicator that measures upper and lower candlestick wick lengths in points and plots them in a separate chart window. It offers four display modes: show the two wick lengths separately, show only the wick opposite the candle’s direction, combine wick values cumulatively, or show their difference. In the opposite-wick mode, a bullish candle displays its lower wick while suppressing the upper wick; a bearish candle does the reverse.
These views make wick size easier to compare across candles and may help traders inspect rejection or intraperiod price movement. However, the description does not define the exact calculations for the cumulative and difference modes, and it provides no trading rules, examples with market data, backtest, or evidence that wick patterns predict future returns. The indicator is a visualization aid rather than a complete strategy. Wick interpretation also depends on the chosen market, timeframe, and surrounding price context, none of which the document evaluates.
Key ideas
- The indicator plots upper and lower candle wick lengths in a separate window.
- It supports separate, opposite-wick-only, cumulative, and difference display modes.
- In opposite-wick mode, the displayed wick is selected according to candle direction.
- The description does not specify trading rules or validate predictive value.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.