This indicator helps traders identify potential reversal opportunities by detecting precise wick-based swing level breaks. It specifically looks for:
1. Swing highs/lows that formed with significant wicks 2. Current price action that wicks through (but doesn't close beyond) these levels
Key Features: - Automatically identifies swing points that formed with substantial wicks - Detects when price wicks through these levels without closing beyond them - Dynamic marker positioning that scales with your chart - Customizable swing length and wick size parameters - Clean, uncluttered visual signals - Built-in alert conditions for both high and low breaks
Customizable Inputs: - Swing Length: Number of bars to calculate swing points - Minimum Wick Size %: Required wick size as percentage of candle body - ATR Period: Used for dynamic marker positioning - ATR Multiplier: Adjusts marker distance from price
Trading Applications: - Identify potential reversal points - Spot failed breakouts early - Recognize price rejection at key levels - Filter out weak swing levels by focusing on significant wicks
Note: This indicator works best when combined with other forms of analysis and proper risk management.
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