Wick/Tail Candle Measurements

29 thg 9

This indicator runs on trading view. It was programmed with pine script v5.

Once the indicator is running you can scroll your chart to any year or date on the chart, then for the input select the date your interested in knowing the length of the tails and wicks from a bar and their lengths are measured in points.

To move the measurement, you can select the vertical bar built into the indicator AFTER clicking the green label and moving it around using the vertical bar *only*. You must click the vertical bar in the middle of the label to move the indicator calculation to another bar. You can also just select the date using the input as mentioned. This indicator calculates just one bar at a time.

measurements are from bar OPEN to bar HIGH for measured WICKS regardless of the bar being long or short and from bar OPEN to bar LOW for measured TAILS also regardless of the bar being long or short.

This indicator calculates tails and wicks including the bar body in the calculations. Basically showing you how much the market moved in a certain direction for the entire duration of that Doji candle.

Its designed to measure completed bars on the daily futures charts. (Dow Jones, ES&P500, Nasdaq, Russell 2000, etc) Although it may work well on other markets. The indicator could easily be tweaked in order to work well with other markets. It is not designed for forex markets currently.