OPEN-SOURCE SCRIPT
Wicks based RSI
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The idea behind this indicator is simple: if there are multiple wicks, let's say to the upside, it means that the price is getting rejected multiple times, hence it signals a possible movement to the downside.
This indicator needs to have small period, to be able to detect wicks and generate signals, since usually bigger wicks disbalance appear for a few candles only.
This is an entry generation indicator. Combine it with a strategy to get the best results.
This indicator needs to have small period, to be able to detect wicks and generate signals, since usually bigger wicks disbalance appear for a few candles only.
This is an entry generation indicator. Combine it with a strategy to get the best results.
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