This strategy identifies candles with extreme wicks based on a user-defined percentage of the Average True Range (ATR). Extreme wicks often indicate significant price rejection and can signal potential reversals or continuation patterns. The strategy highlights these candles on the chart, making it easier to spot key price levels and trading opportunities.
Key Features
Highlights Extreme Wicks:
Upper Wicks: Highlighted in red when the upper wick is ≥ the user-defined % of the ATR.
Lower Wicks: Highlighted in green when the lower wick is ≥ the user-defined % of the ATR.
Customizable Wick Threshold: Adjust the percentage of the ATR to define what constitutes an "extreme wick" (e.g., 40%, 100%, 200%, etc.).
ATR-Based Filtering: Uses the Average True Range (ATR) to dynamically adjust to market volatility and identify meaningful wicks.
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