Candle wicks average density
Posted: 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.
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.