Displaying and Alerting on Candle Wick Lengths

Summary

This MetaTrader indicator measures candle upper and lower wicks and displays their lengths on a price chart. Traders can choose pips or percentage points, set thresholds for which wicks appear, and optionally mark wicks below rather than above those limits. It can also filter candles by where their open and close fall within the candle range, and can wait for a candle to close before evaluating its wicks.

The indicator offers alerts through sound, pop-ups, email, and push notifications, along with an option to flag equal upper and lower wicks. Other settings control the number of candles processed, pip handling for non-forex symbols, and whether an average wick size is shown. These are display and monitoring features; the description gives no evidence that wick length predicts price direction or improves trading results. Threshold choices and signal interpretation remain the user’s responsibility.

Key ideas

• The indicator displays upper and lower wick lengths in pips or percentage points.
• Users can filter displayed wicks by length and optionally show wicks below a chosen limit.
• Alerts can be triggered by wick thresholds, equal wick lengths, and other configured conditions.
• The indicator can wait for candle close and can show an average wick size over a selected sample.
• The description explains charting features but provides no evidence of predictive value.

Tags

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