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No Wick Candle

FREE

Published: 12 November 2025

Current version: 1.0

No Wick Candle

Indicators
Hafiz Anas Hashmi
Hafiz Anas Hashmi
United Kingdom

924
5 (1)
1 product
Version: 1.0

No Wick Candles is a powerful price action indicator that identifies candles with no upper or lower wick (also known as Marubozu candles) and automatically draws horizontal compensation lines from their open price with a "Compensation" label.

These wickless candles represent strong momentum and are often used by professional traders as key support/resistance zones. The indicator helps you visualize potential reversal or continuation zones instantly.

Key Features

Detects Bullish (no lower wick) and Bearish (no upper wick) candles
Draws horizontal compensation line from Open price
Adds "Compensation" label on the line
Configurable line length (1 to 10 candles)
Option to delete line on touch (enable/disable)
Clean & lightweight – no lag, no repainting
Works on all timeframes & symbols

How to Use

Attach indicator to chart
Look for horizontal lines with "Compensation" label
Use as support/resistance or entry confirmation
Combine with trend, volume, or other confluence

Pro Tip: When price returns and touches the compensation line, it often acts as a magnet – perfect for scalping or swing entries.

Why This Indicator?

100% Free – No hidden fees
No repainting – Reliable signals
Beginner-friendly – Clear visual cues
Professional-grade – Used in price action strategies
Fully customizable – Match your style

Author: Anas Hashmi Version: 1.00 Updated: November 2025 License: Free for personal & commercial use

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nilson2021 2025.12.21 16:57 #

Indicador muito util. Seria muito importando tambem o programador desse indicador aproveitasse esse indicador aqui,https://www.mql5.com/pt/market/product/72861?source=Site+Main# Destacar essas linhas no fechamento desses candles

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nilson2021 2025.12.21 16:57 #

No Wick Candle

Hafiz Anas Hashmi

Key Features

How to Use

Why This Indicator?