OPEN-SOURCE SCRIPT
Wick Reversal Spotter
Calculates the average body to wick highs and body to wick lows over a period and highlights bars above the filter line
Can be filtered further by requiring a bullish close for a long bottom wick / bearish close long top wick
Amplitude of filter line can be adjusted
Two bar reversal mode highlights a continuation bar close in the opposing direction of the previous bars wick
Can be filtered further by requiring a bullish close for a long bottom wick / bearish close long top wick
Amplitude of filter line can be adjusted
Two bar reversal mode highlights a continuation bar close in the opposing direction of the previous bars wick
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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