No Wick Candle Marker

Description
The "No Wick Candle Marker" indicator identifies and highlights candles with no upper or lower wicks on your chart, helping traders spot potential reversal or continuation patterns. A candle with no lower wick (open equals low) is marked with a green triangle below the bar, while a candle with no upper wick (open equals high) is marked with a red triangle above the bar. This indicator is customizable, allowing you to use either the chart’s timeframe or a user-defined timeframe for detection.

Features

• Wick Detection: Marks candles with no lower wick (bullish) and no upper wick (bearish) for easy identification.
  
• Timeframe Flexibility: Choose between the chart’s current timeframe or a custom timeframe (e.g., 1-minute, 4-hour, daily, etc.).
  
• Visual Clarity: Uses clear, color-coded triangles (green for no lower wick, red for no upper wick) for intuitive analysis.
  
• Overlay Indicator: Seamlessly integrates with your chart without cluttering the view.

How It Works
The indicator checks each candle to determine if its open price equals its low (no lower wick) or high (no upper wick). When conditions are met, it plots a triangle marker below or above the candle, respectively. The timeframe setting allows you to analyze wick patterns on your preferred timeframe, making it versatile for scalping, swing trading, or long-term analysis.

Settings

• Use Chart Timeframe: Enable to detect no-wick candles on the chart’s current timeframe. Disable to select a custom timeframe.
  
• Custom Timeframe: Choose a specific timeframe (e.g., 1M, 5M, 15M, 1H, 4H, D, W, M) when not using the chart’s timeframe.
  

Use Cases

• Identify strong bullish or bearish candles with no wicks, often associated with significant price momentum.
  
• Combine with other technical tools to confirm reversals, breakouts, or trend continuations.
  
• Analyze patterns across different timeframes for multi-timeframe trading strategies.
  

Notes

• Best used in conjunction with other technical analysis tools to validate signals.
  
• Works on any market (stocks, forex, crypto, etc.) and any timeframe supported by the platform.
  

Get Started
Add the "No Wick Candle Marker" to your chart, adjust the timeframe settings to suit your trading style, and start identifying key candle patterns with ease!