OPEN-SOURCE SCRIPT
Wick Ratio Indicator
Script Description: Wick Ratio Indicator
This Pine Script indicator identifies candlesticks with dominant upper or lower wicks and visually marks them on the chart. It helps traders spot potential price rejection signals, often used to anticipate trend reversals or breakout opportunities. Key Features
Wick Length Calculation
Upper Wick: high - max(open, close)
(Measures distance from the highest price to the candle body's top)
Lower Wick: min(open, close) - low
(Measures distance from the candle body's bottom to the lowest price)
Comparison Logic
Green Triangle (▲): Plotted above the candle when the upper wick is longer (bearish rejection signal).
Red Triangle (▼): Plotted below the candle when the lower wick is longer (bullish rejection signal).
Visual Simplicity
Non-intrusive design that overlays directly on price action.
Customizable colors and sizes (modifiable in settings).
This Pine Script indicator identifies candlesticks with dominant upper or lower wicks and visually marks them on the chart. It helps traders spot potential price rejection signals, often used to anticipate trend reversals or breakout opportunities. Key Features
Wick Length Calculation
Upper Wick: high - max(open, close)
(Measures distance from the highest price to the candle body's top)
Lower Wick: min(open, close) - low
(Measures distance from the candle body's bottom to the lowest price)
Comparison Logic
Green Triangle (▲): Plotted above the candle when the upper wick is longer (bearish rejection signal).
Red Triangle (▼): Plotted below the candle when the lower wick is longer (bullish rejection signal).
Visual Simplicity
Non-intrusive design that overlays directly on price action.
Customizable colors and sizes (modifiable in settings).
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。