Do you have a simple candlestick wick to body ratio indicator which alerts and puts a dot on the candlestick when the wick (the sum of the sizes of the both upper and lower wicks) to body ratio (total wick size divided by body size) is between 2 values. I searched the forum but couldn't find any indicator which does this.
Something simple in the inputs menu like
Wicktobody ratio minimum value alert: 0.50
Wicktobody ratio maximum value alert: 1.50
So in this case the indicator would alert when the wick to body (total wick size divided by body size) ratio of that candlestick is between 0.5 and 1.5, whereas it doesn't alert when the total wick to body ratio is less than 0.5 and more than 1.5.
If you don't have something similar to this i would be grateful to have such an indicator which calculates wick to body ratio and alerts when the ratio is between 2 values like the example.
I do not have it but it will be made
Any updates on the wick to body ratio indicator from post number 4141?
I searched the forum and found this indicator from some years ago which is similar to what i am looking for. But i guess this indicator has to be modified.
Try out this version : percent_wick_2.mq4
It will add a dot if the high or the low wick of the current bar exceeds desired percent. Option DisregardHighLow is added in order to allow or disallow comparison of current high to previous high or current low to previous low
The version you modified from the version i posted, takes the percentage of the upper wick to the whole candle and the lower wick to the whole candle respectively and puts green or yellow dots when the upper and lower wick percentages exceed the entered amount.
What i need is one single dot above the candlestick when the sum of the higher and lower wicks /the candle body is between 2 limit percentage values.
Wicktobody percentage alert lower limit: 0.25
Wicktobody percentage alert upper limit: 0.50
In this case we would only have dots on the candles whose "total wick size" / "candle body" is between 0.25 and 0.50.
Try it out now : percent_wick_2_1.mq4
Thank you Mladen.
There are 2 small details for modification.
1-The indicator currently is plotting on chart bars on the candles when the percentages are in the upper and lower limit. What i want to have is a dot (any color) above the candle.
2-The indicator currently is alerting when the " total wick size / the whole candle" is between the values. What i want is to have alert when "total wick size /the candle body" is between the values.
Will be made that way
Is it possible to make this indi into an EA?
Please enable the necessary setting in your browser, otherwise you will not be able to log in.