Hi There PRC Team,
Please may I request someone to code the wickzone indicator for me?
I have checked the whole site and there isn’t anything available and I am unable to code despite my best efforts 🙁
Idea is very simple to find 2 or more wicks that are clustering the price zone on either up side OR downside and look for reversals as this is price rejection in any direction on break of these levels and keep shifting the pattern to the right.
Wick length should be a customizable parameter i.e. .40% or 50% etc.. along with the rectangle box to be customizable or simply put keep displaying
Hi There PRC Team,
Please may I request someone to code the wickzone indicator for me?
I have checked the whole site and there isn’t anything available and I am unable to code despite my best efforts 🙁
Idea is very simple to find 2 or more wicks that are clustering the price zone on either up side OR downside and look for reversals as this is price rejection in any direction on break of these levels and keep shifting the pattern to the right.
Wick length should be a customizable parameter i.e. .40% or 50% etc.. along with the rectangle box to be customizable or simply put keep displaying
To avoid any confusion please view the last attachement
Not easy to achieve, here is the first step of your query, which roughly detects the “cluster” and draw the rectangle between at least 2 wicks in the same area.
defparam drawonlastbaronly=true
wickpercent = 50
//store wicks data
if (high-max(close,open))/range>=wickpercent/100 then
$wh[w] = high
$wl[w] = max(close,open)
$wbar[w] = barindex
$wtype[w] = 1
w = w + 1
endif
if (min(open,close)-low)/range>=wickpercent/100 then
$wh[w] = min(open,close)
$wl[w] = low
$wbar[w] = barindex
$wtype[w] = -1
w = w + 1
endif
if islastbarupdate and w>2 then
//fetch the wicks data set
for i = 0 to w-1
hh=$wh[i]
ll=$wl[i]
for j = i+1 to w-1
//within the range
mid = ($wh[j]+$wl[j])/2
//upper wick
if $wtype[i]=1 and $wtype[j]=1 then
if mid>=$wl[i] and mid<=$wh[i] then
drawrectangle(min($wbar[i],$wbar[j]),min(ll,$wl[j]),max($wbar[i],$wbar[j]),max(hh,$wh[j])) coloured("cyan",50) bordercolor("cyan",80)
endif
endif
//lower wick
if $wtype[i]=-1 and $wtype[j]=-1 then
if mid>=$wl[i] and mid<=$wh[i] then
drawrectangle(min($wbar[i],$wbar[j]),min(ll,$wl[j]),max($wbar[i],$wbar[j]),max(hh,$wh[j])) coloured("crimson",50) bordercolor("crimson",80)
endif
endif
next
next
endif
return w
Hi Nicolas,
Many thanks for the swift response and code. I do this day in and out, and it works beautifully, until I make a mess due to manual calculations and vision impairment 🙂 this is the key to losing trade in this strategy, 2 wrong trades based on missed cluster or wicks and there goes all the profit earned 🙂
I tried to put indicator on chart it errors with too many iterations were detected of the loop. Using 11.1 1.8.0 to be precise?
Thanks
What timeframe and units displayed? Try to reduce displayed units.
Hi Nicholas,
Tried all timeframes from 1 min to 1 hr and even with 25 units etc but either the chart is not displayed properly or I get the loop error. Any chance you can post the screen shot with settings so I can use the same please?
Thanks
Hi Nicolas, many thanks, for some bizzare reason it keeps the display as scewed..I’ve to do adjustment to display correctly, nontheless, concept is simple…buy above the break of blue’s and sell below the break of red! works nicely with proper risk mgmt..I call it wick pivots…need the target set..for me it’s easy to see the next target UPSIDE for Dax at 920 after break from 840…if we can get that displayed than we are good.
remove w from the last line or set your price scale to use “price only”.
Ah, now it works after removing w and with less units, many thanks Nicolas! appreciate your help!
let’s try and see if my visual impairment gets better with this…strategy hasn’t let me down but my own mistakes in identifying the levels so far!
1 more ask pls, apologies, to remove the levels that have been tested in order to avoid chaos on the chart and clearly see the one’s that are yet to be breached?
Dax ..920 almost breached with hi 915 😁
Now if we go below 850, clear way towards 820…
Dax ..920 almost breached with hi 915 😁
Now if we go below 850, clear way towards 820…
or towards 980ishh on clear break of 920 and above on price holding and not dropping below 870
Please define precisely, with a simple example, why one of the level should be erased (with a code logic).
Hi Nicolas, cannot explain with code logic , wish I could, however, simple logic is that price has moved to the right forming new highs and lows…so what happened to these precious levels tested and broken isn’t valid anymore,if this makes any sense? In my chart I posted I have tried to mention by marking the ones we can remove but keep the ones that are yet to be tested etc…
