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Master Your Trades with the Candle Wicks Length Display Indicator for MT4

Mike • 2025-01-30 11:46
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Candle Wicks Length Display Indicator for MetaTrader is a handy tool that shows you the lengths of candle wicks directly on your chart, measured in pips. You can customize it to display only wicks that meet a certain length or even those that fall below a specified limit. This indicator supports alerts and is compatible with both MT4 and MT5 platforms.

For those of us who rely on candle wicks to inform our trading decisions, this indicator is a game changer. Whether you're looking for entry or exit signals, the Candle Wicks Length Display can help you stay on top of those crucial long or short wicks and their exact lengths.

Input Parameters

  • Units (default = Pips) — Choose how you want to measure the wicks: in standard pips or percentage points.
  • DisplayWickLimit (default = 5) — Set the minimum wick length in pips or percentage points for it to show up on your chart.
  • DisplayHighWickColorBullish (default = clrRed) — Color for the top wick length on bullish candles.
  • DisplayHighWickColorBearish (default = clrFireBrick) — Color for the top wick length on bearish candles.
  • DisplayLowWickColorBullish (default = clrLimeGreen) — Color for the bottom wick length on bullish candles.
  • DisplayLowWickColorBearish (default = clrGreen) — Color for the bottom wick length on bearish candles.
  • UpperWickLimit (default = 10) — Minimum value for the upper wick length to trigger an alert.
  • LowerWickLimit (default = 10) — Minimum value for the lower wick length to trigger an alert.
  • WaitForClose (default = true) — If true, the indicator will wait for a candle to close before checking its wicks' lengths.
  • TopBottomPercent (default = 0) — If set to a value greater than 0 and less than or equal to 100, the indicator will display lengths only for candles where the Open and Close are within the specified percentage.
  • LessThan (default = false) — If true, the indicator will mark wicks that are less than or equal to the given limits instead of greater than or equal.
  • SoundAlert (default = false) — If true, sound alerts will trigger when the UpperWickLimit or LowerWickLimit is reached.
  • VisualAlert (default = false) — If true, pop-up alerts will appear when the UpperWickLimit or LowerWickLimit is reached.
  • EmailAlert (default = false) — If true, email alerts will be sent when the UpperWickLimit or LowerWickLimit is reached. Make sure your email settings are configured in MetaTrader.
  • NotificationAlert (default = false) — If true, push notifications will be sent to your device when the UpperWickLimit or LowerWickLimit is reached. Configure notifications in MetaTrader settings.
  • AlertOnLimit (default = false) — If true, alerts will be issued on wicks exceeding the specified limit.
  • AlertOnEqualTopBottomWicks (default = false) — If true, alerts will be issued when the upper and lower wicks have the same length.
  • IgnoreAlertsOnFirstRun (default = true) — If true, the indicator will ignore alert conditions when first attached to the chart or when the chart's timeframe or symbol is changed.
  • FontFace (default = "Verdana") — The font used for displaying candle wick lengths.
  • FontSize (default = 10) — The size of the font for displaying candle wick lengths.
  • MaxCandles (default = 500) — The number of candles to process from the current one. Set to 0 to process all candles.
  • UseRawPips (default = false) — If true, the indicator uses raw pips instead of calculating pip size for the current symbol, which can be useful for non-Forex symbols.
  • ShowAverageWickSize (default = false) — If true, the average wick size will be displayed.
  • AvgCandles (default = 50) — Number of candles to analyze for calculating the average wick size. Set to 0 to include all available candles.
  • AverageWickSizeColor (default = clrLightGray) — Color of the average wick size display.
  • Corner (default = CORNER_LEFT_UPPER) — The position for displaying the average wick size on the chart.
  • Distance_X (default = 3) — Horizontal distance from the corner to the average wick size display.
  • Distance_Y (default = 12) — Vertical distance from the corner to the average wick size display.
  • DrawTextAsBackground (default = false) — If true, the average wick size label will be drawn as background to avoid obscuring the chart.
  • RemoveOldLabels (default = false) — If true, text labels beyond the number of candles specified by MaxCandles will be continuously removed.
  • ObjectPrefix (default = "CWLD-") — Prefix for chart objects to ensure compatibility with other indicators.


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