Wicked Candles

We at Minions Labs always like to defy the stablished systems and beliefs trying new things and new ways of seeing and interpreting the Market Data. And all starts with the following question...


WHAT IF...

You give more relevance and focus on the Wicks/Shadows on the candlesticks?

And Why? In volatile markets wicks play an important role on determining who is winning the the fight between Bulls and Bears, and more than that, Higher and lower wicks can present you with a good status of the current trend and possible reversals and/or exhaustions.

Well, one way to "see" that is visually filter through the noise of bodies and thin lines, the other way is to use our Wicked Candles!

The name is intentionally a reference for a "Wicked" (perverse, cruel) candle that tries to fool us with its behavior... And, with our special Visual approach, it is easy to spot them!


HOW TO "READ" THIS INDICATOR

  • Upper Wicks identify a retracement of the current movement meaning a BEARish impulse.
  • Lower Wicks identify a retracement of the current movement meaning a BULLish impulse.
  • Look for those patterns at Support & Resistance levels and you will start to see the market in a new way.

    SETTINGS

    • Just start with coloring your current candlestick chart in a way that will favor the Super Candles painting method. See the screenshots for examples.
    • Then, apply your desired colors for Upper and Lower wicks.
    • There are separate colors for Upper and Lower wicks when we have a BULLish and a BEARish candle, so you can track more precisely the movements of the market.


    We are giving this indicator for FREE to help new traders to have the opportunity to try different things without any cost barrier, and also to promote New Ways of Thinking about Technical Analysis. Enjoy!

    And, finally, for registration purposes, this idea of Wicked Candles came to life today, February, 27, 2021.


    If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)...   

    This will mean A LOT to me... And this way I can continue to give away Cool Stuff for Free...

    With No Strings Attached!  Ever!


    Live Long and Prosper!

    ;)
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    Flavio Javier Jarabeck
    Göstergeler
    The Metatrader 5 has a hidden jewel called Chart Object, mostly unknown to the common users and hidden in a sub-menu within the platform. Called Mini Chart, this object is a miniature instance of a big/normal chart that could be added/attached to any normal chart, this way the Mini Chart will be bound to the main Chart in a very minimalist way saving a precious amount of real state on your screen. If you don't know the Mini Chart, give it a try - see the video and screenshots below. This is a gr
    Market Momentum PRO
    Flavio Javier Jarabeck
    Göstergeler
    The Market Momentum indicator is based on the Volume Zone Oscillator (VZO), presented by Waleed Aly Khalil in the 2009 edition of the International Federation of Technical Analysts journal, and presents a fresh view of this market valuable data that is oftenly misunderstood and neglected: VOLUME. With this new approach of "seeing" Volume data, traders can infer more properly market behavior and increase their odds in a winning trade. "The VZO is a leading volume oscillator; its basic usefulness
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