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Indicators

Wick_Length - indicator for MetaTrader 5

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6289
Rating:
(12)
Published:
2018.11.20 12:49
Wick_Length.mq5 (10.42 KB) view
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Wick length indicator displays the candle wick length in points in a separate chart window.

It has one configurable parameter:

  • Method - display method
    • Separated - separate
    • Separated Opposite Only - separated, opposite wicks only
    • Cumulative
    • Difference

Display methods:

  1. Separated display method:
    Wick length is displayed "as is":
    Upper wick - upper wick length,
    Lower wick - lower wick length
  2. Separated, opposite wicks only:
    • If the candle is bullish:
      Upper wick = 0
      Lower wick = lower wick length
    • If the candle is bearish:
      Upper wick = upper wick length
      Lower wick = 0
  3. Cumulative:
    The 'Upper wick' buffer is named "Wick cumulative" and displays the sum of the upper and lower candle wick
    The 'Lower wick' buffer is not displayed
  4. Difference:
    The 'Upper wick' buffer is named "Wick difference" and displays the difference between the candle's upper and lower candle
    The 'Lower wick' buffer is not displayed


Fig. 1. Wick length, Method = Separated


Fig. 2. Wick length, Method = Separated Opposite Only


Fig. 3. Wick length, Method = Cumulative


Fig. 4. Wick length, Method = Difference



Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/23008

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