QuantMatrix Candle Exhaustion
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QuantMatrix Candle Exhaustion
QuantMatrix Candle Exhaustion is a technical indicator for MetaTrader 5 that identifies candles showing predefined price expansion and wick characteristics.
The indicator compares the range of the current candle with the average range of previous candles.
When the candle range exceeds the configured historical range threshold, its upper and lower wicks are evaluated.
A bullish exhaustion marker can be displayed when an expanded bullish candle also contains the required lower-wick proportion.
A bearish exhaustion marker can be displayed when an expanded bearish candle also contains the required upper-wick proportion.
Signals are displayed directly on the price chart.
Features
- Candle-range comparison with previous bars
- Expanded candle detection
- Upper-wick analysis
- Lower-wick analysis
- Bullish exhaustion markers
- Bearish exhaustion markers
- Configurable historical lookback
- Configurable range multiplier
- Configurable wick ratio
- Uses the symbol and timeframe of the current chart
- Does not open, modify or close trades
QuantMatrix Research Series
QuantMatrix Candle Exhaustion is part of the QuantMatrix series of market analysis tools developed by Rafael Haddad.
Exhaustion markers represent conditions identified by the indicator's mathematical rules. They do not guarantee a price reversal or future trading results.
