Displaying and Alerting on Candle Wick Lengths in MetaTrader

Summary

This MetaTrader indicator displays upper and lower candle wick lengths directly on a chart, measured in pips or percentage points. Traders can set thresholds to show longer or shorter wicks, choose separate colors for bullish and bearish candles, and optionally wait for a bar to close before evaluating it. A filter can restrict displayed candles based on where their open and close fall within the candle’s range.

The indicator also supports sound, pop-up, email, and push alerts for configured wick conditions, including equal upper and lower wicks. Optional settings show average wick size over a chosen number of candles and limit how many historical bars are processed. This is a charting aid for systems that use wick length as an entry or exit cue; the description does not provide a trading rule, performance evidence, or validation that any wick threshold predicts future price movement. Pip interpretation may require adjustment for non-Forex symbols.

Key ideas

• The indicator labels candle wick lengths in pips or percentage points.
• Display filters can select wick lengths above or below configured thresholds.
• Alerts can be configured for upper or lower wick conditions and equal wick sizes.
• A closed-bar option can defer wick checks until a candle finishes.
• Average wick size can be shown across a selected history window.
• The description provides no evidence that wick signals are profitable.

Tags

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