Wick Fill Trend Screener MT5
- Indicators
- Version: 1.0
- Activations: 5
A wick in a candlestick reflects a rejection in the price. This Screener is trying to identify wicks with great potential to be filled. This Screener is focused on the wicks that happen in the trend market.
The Screener displays a dashboard that offers an overall view of the potential wicks traded live. It shows ALL the pairs/instruments organize by timeframe. Buys opportunities are named "UP-W.’’ They appear green on the dashboard, and the sell opportunities are named ''DN-W” and appear in red. Traders have to click the desired wick opportunity on the dashboard shown on the screen, and the screener will show that specific trade. The Screener displays opportunities based on the inputs traders choose. Be aware that instruments such as Gold or US30 usually have different contract sizes depending on the broker. Please, try to use pairs or instruments with the same contract size. Otherwise, one of the contracts sizes pairs/instrument will not display any signal.
-Inputs
Trend wicks: This input determines the wick size that the indicator has to scan. It is measured on %. It has 20 % by default.
-Number of signals: This is for the number of signals scanned for the Success Rate Simulator.
-Moving average: This filter is a combination of the moving average indicator and RSI. Users have the opportunity to set RSI and moving average to their own needs.
-Previous bar direction: This feature either avoid or allow the signal based on the previous candle. If It is true, the indicator will ONLY consider wicks as signals if the previous is in the same direction of the trend. If it is false, it will consider all the wicks.
-Last Higher highs, lower Lows Bars: This feature allows traders to scan for the last higher highs and lower lows in the last "x" bars to avoid range period.
-Minimum candle size: This input is for the minimum Bar size that the indicator will consider scanning wicks
-Maximum candle size: This input is the maximum bar size that the indicator will consider scanning wicks.
-Stop-loss Ratio: By default, the stop loss is the HH or LL of the candle of the signal candle. This feature allows users to set a bigger or smaller stop loss based on the wick signal. For example, If the user chooses 2, it will be a double stop loss based on the candle's Wick.
-Pair list: This setting chooses which pairs/instruments should be displayed on the screener. Please follow the following format: EURUSD, AUDCAD, GBPNZD
*You can use prefix or suffix if your broker list uses them.
-Alert Setting: This indicator has alerts that can be sent to your mobile device, activating the alert and the push notifications. First, to receive the signal from the hand to your app., users must get the Metaquotes ID from the Setting>Chat and message> from your MetaTrader app. Then, Go to the desktop version Tools>Options>Notifications -----There, insert the Metaquotes Id. Then, It will receive a notification of a live signal.
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Because style matters
I know how annoying it is to click properties every time to change the candle’s color, the background to light or dark, and put or remove the grid. Here is the solution with one click that I include in the majority of my products:
- Three customizable buttons to choose the candle style that traders want.
- One button to switch between Day and Night mode.
- One button to show or hide the Grid on the charts.
*****On the settings, you can choose where the buttons should be displayed on the screen*****
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Author
Javier Morales, founder of Algorithms for Trading.
