Wiseman1 Candlestick Indicator for Recent Highs and Lows
Summary
Wiseman1 is described as a candlestick coloring indicator that compares each bar with prior price extremes over a period. It colors a bar green when its high exceeds the period's previous high while its close is below the bar's midpoint. It colors a bar pink when its low falls below the period's previous low while its close is above the midpoint. Bright and dark shades distinguish candles aligned with or against the indicated direction.
The document explains the visual conditions but does not specify the lookback period, provide a trading entry or exit rule, or show performance evidence. It presents the indicator as a way to mark price behavior around recent highs and lows, so users would need to define how the colors map to trades and test that interpretation. The source attribution is to Pavel Kulko, with the text noting that the explanation was translated from Russian. No risk controls or validation method are described.
Key ideas
- The indicator colors candles based on whether their highs or lows exceed prior period extremes.
- A green candle has a new high and closes below its midpoint.
- A pink candle has a new low and closes above its midpoint.
- Bright and dark shades distinguish candles with and against the signal direction.
- The document provides no trading rules, specified lookback period, or performance results.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.