Candle wicks average density

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Candle wicks average density

Postby Cactus » Mon Feb 05, 2018 4:03 pm

Hello helpful people
Would you be able to develop such indicator, kind of similar to "linear price bar" or "vector" but not really. Let me explain:
It would be an oscillator below the chart.
Below 0 level line, low wicks size of the candle to be drawn (any candle, bullish or bearish don't matter)
Above the 0 level line, high wicks size to be drawn

So if a candle is bearish, the low wick is = close - low
If bullish, the low is open-low

If candle is bearish, the high wick is high - open
If bullish, the high wick is high - close

On top of that, have an MA of each wicks

I posted 2 screenshots for more explanation.


This would aid in determining which areas are heavily tested (a lot of wicks forming)
And a lot can be done by comparing the averages, etc.

Thanks in advance.
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