指标
RSI
Signal
MACD
Scalping
Long Wick
"Long Wick" 标识
4.0
03/09/2025
198
Desktop
注册日期 11/02/2025
交易额
16.07M
盈利点数
2.27K
免费安装
198
"Long Wick" 已上传图片"Long Wick" 已上传图片"Long Wick" 已上传图片"Long Wick" 已上传图片

The Long Wick indicator is a powerful technical analysis tool built for cTrader that focuses on identifying candles with unusually long wicks—either upper or lower—relative to their body size and the average candle range. It highlights these wicks on the chart as potential reversal points, where the market may have rejected higher prices (for upper wicks, suggesting a bearish reversal) or lower prices (for lower wicks, suggesting a bullish reversal). The indicator uses a combination of a wick threshold multiplier, a minimum wick-to-body ratio, and a trend-filtering Simple Moving Average (SMA) to filter out noise and focus on significant price rejection patterns. Each detected wick is marked with a circle (green for upper wicks, red for lower wicks if confirmed as reversals, or yellow if not), and statistical data (e.g., total wicks, reversals, and success rate) is displayed on the chart for easy tracking.

How to Use in Trading:

  • Identifying Reversal Opportunities: Use the indicator to spot long wicks that occur at key support or resistance levels, or against the prevailing trend (e.g., a long lower wick in a downtrend for a potential bullish reversal). A solid green or red circle indicates a confirmed reversal based on price action within the lookforward period, making it a signal to consider entering a trade in the opposite direction (e.g., buy on a red lower wick reversal, sell on a green upper wick reversal).
  • Confirmation with Other Tools: Combine the Long Wick indicator with other technical indicators (e.g., RSI, MACD, or support/resistance lines) to confirm reversal signals and avoid false positives, especially in choppy markets.
  • Risk Management: Place stop-loss orders beyond the wick’s extreme (e.g., below the low for a bullish reversal) to protect against the possibility that the reversal fails, and set take-profit levels based on nearby support/resistance or a risk-reward ratio (e.g., 1:2).
  • Monitoring Success Rate: Regularly check the displayed success rate to assess the indicator’s effectiveness over time and adjust your strategy accordingly.

Adjusting Parameters for Best Usage:

  • Lookback Period (Default: 5): Determines the number of bars used to calculate the average candle range. A shorter period (e.g., 3-10) makes the indicator more sensitive to recent volatility, ideal for fast-moving markets, while a longer period (e.g., 20-50) smooths the average for trendier conditions. Adjust based on your timeframe (e.g., lower for 1-minute charts, higher for 1-hour charts).
  • Lookforward Period (Default: 15): Sets the number of bars to confirm a reversal. A shorter period (e.g., 5-10) suits quick scalping strategies, while a longer period (e.g., 15-30) is better for swing trading to capture extended reversals. Increase if you notice too many yellow markings where reversals occur later.
  • Wick Threshold Multiplier (Default: 1.3): Multiplies the average candle range to set the minimum wick length. Lower values (e.g., 1.0-1.5) detect more wicks (useful in low-volatility markets), while higher values (e.g., 2.0-3.0) filter for only the most significant wicks (better in high-volatility markets). Tune this to balance sensitivity and signal quality.
  • Trend Period (SMA) (Default: 21): Defines the SMA length for trend filtering. A shorter period (e.g., 10-20) responds to short-term trends, while a longer period (e.g., 50-100) aligns with longer-term trends. Adjust to match your trading horizon and market conditions.
  • Min Wick to Body Ratio (Default: 3): Sets the minimum ratio of wick length to body size. A lower ratio (e.g., 2-3) includes more candles with moderate wicks, while a higher ratio (e.g., 4-5) focuses on candles with very pronounced wicks. Increase for stricter reversal signals, decrease for more opportunities.
  • Reversal Tolerance (Pips) (Default: 5): Allows a tolerance in pips for the price to extend beyond the wick’s extreme before disqualifying a reversal. A smaller value (e.g., 2-3) ensures strict reversal confirmation, while a larger value (e.g., 5-10) accommodates minor retracements. Adjust based on the symbol’s pip value and volatility.

Optimization Tips:

  • Start with the default settings and backtest on historical data for your preferred instrument and timeframe.
  • In trending markets, increase the Wick Threshold Multiplier and Min Wick to Body Ratio to focus on stronger reversal signals.
  • In ranging markets, lower these parameters to capture more wicks, but pair with a shorter Lookforward Period to avoid late disqualifications.
  • Regularly review the success rate and adjust parameters if it drops below your acceptable threshold (e.g., 70%).

By customizing these parameters, traders can tailor the Long Wick indicator to their specific strategy, enhancing its effectiveness in spotting high-probability reversal points in various market conditions.

4.0
评价:1
5
0 %
4
100 %
3
0 %
2
0 %
1
0 %
客户评价
August 12, 2025
Pros: Simple and effective wick detection, customizable thresholds, stable performance. Cons: No alerts, no volume filter, no MTF mode.
猜您喜欢
指标
Indices
Stocks
Forex
+4
MACD Pro Trader
🚀 MACD Pro Trader – Advanced MACD with buy/sell signals, custom MAs & color-coded histograms for smarter trading! 📈🔥
指标
Breakout
ATR
Signal
+3
Support Resistance Indicator
A custom support resistance indicator, specifically designed for scalping techniques.
指标
Signal
MACD
USDJPY
PulseTracker
Version 1.2: Advanced Trend Detection & Visualization System
指标
RSI
Breakout
ATR
+2
Channel Breakout System
🚀 Specialized algorithm is designed to confirm entry and exit points with precision 🎯
指标
Indices
Commodities
Forex
Smart Floating Risk - Premium version
The Floating Risk Indicator is an essential tool for traders who prioritize risk management.
[Hamster-Coder] Pivot Points MTF
[Hamster-Coder] Pivot Points (Multi Time Frame)
DMI MONDAY ZONES v2.1
Marks Monday's OPEN,HIGH & LOW. These are areas of support and resistance for the week.
指标
Grid
RSI
Breakout
+12
Trend Pulse X
is a trend-following indicator designed to provide a clear view of market direction, momentum, and strength
指标
RSI
Breakout
XAUUSD
+5
Auto-Trend Channel
Adaptive trend channel using linear regression and Pearson correlation for dynamic support, resistance, and trends.
BarCount
Bar count
指标
Breakout
XAUUSD
Forex
+2
McDonalds Pattern-Bzier Curve
Designed to identify and visualize price reversal patterns using Bézier curves.
Moving Average channel
This indicator is designed to display customizable moving averages (MAs) on a chart.
指标
NAS100
NZDUSD
XAUUSD
+12
Volume Meter
Volume Meter
指标
Forex
EURUSD
AI
Future_AI_Indicator
Future-AI indicator.
Support Resistance Zones
Support and Resistance.
MAMA CANDLES
This code implements the MESA Adaptive Moving Average (MAMA) indicator, it creates candles based on MAMA calculations.
指标
Indices
XAUUSD
Prop
+8
FREE Squeeze Momentum from TradingView
Squeeze Momentum - Anticipate explosive market moves before they happen
指标
RSI
Breakout
Supertrend
All Support and Resistance Levels
"Identify key market zones and visualize support/resistance from multiple timeframes on a single chart.