NQ - The Wick Report

Multi-Timeframe Wick Zones with Probability Indicator
Advanced Directional Bias & Target Identification System
This indicator analyzes wick formations across multiple timeframes (4H, 12H, Daily, Weekly) to identify high-probability directional bias and reversal targets. Built on 15 years of historical NQ Futures data, it provides real-time probability assessments for wick zone interactions.
Key Features:
📊 Data-Driven Approach

15+ years of embedded statistical data
Real-time probability calculations based on percentile rankings
Target Score system combining percentile and probability metrics

⏰ Time-Sensitive Analysis

Dynamic probability updates based on hour of day (NY time)
Accounts for time decay - probabilities change as the candle progresses
Weekly analysis adjusts for day of week patterns

🎯 Trading Applications:

Directional Bias: Large wicks often indicate rejection levels and potential reversal zones. The probability score helps validate whether a wick is statistically significant.
Target Identification: Small wicks with high scores serve as excellent targets when price is trading at distance. These zones act as magnets for price action.
Risk Management: Use probability thresholds to filter only the highest-confidence zones. Combine Score and Probability thresholds for precision entries.

How It Works:
The indicator tracks developing wicks in real-time and compares them against historical percentiles (P5 through P95). As each candle progresses, it calculates:

Percentile Rank: Where the current wick size falls historically
Exceed Probability: Likelihood of price exceeding this wick zone
Target Score: Combined metric (100-Percentile) × Probability / 100

Display Options:

Wick Modes: Auto (directional), Both, Bullish Only, or Bearish Only
Data Values: Toggle hour, percentile, probability, and score displays
Thresholds: Filter zones by minimum probability or score requirements
Customization: Adjust colors, label positions, and timeframe visibility

Trading Strategy:

High Score + Small Wick = Strong target when price is extended
High Score + Large Wick = Potential reversal zone or strong support/resistance
Time Decay Awareness = Probabilities decrease as time progresses within each candle
Multi-Timeframe Confluence = Strongest signals when multiple timeframes align

Best Practices:

Enable score display to quickly identify high-probability zones
Use threshold filters during volatile conditions
Monitor time decay - early-session wicks have higher probabilities
Combine with volume analysis for confirmation
Watch for confluence across multiple timeframes

This tool transforms traditional wick analysis into a quantitative, probability-based system for more informed trading decisions.