A trading indicator that calculates and displays the percentage of top and bottom wick lengths relative to total candle range for the last 100 candles.
Explore complementary indicator rolesHow it works
The Wick Percentages Table (WPT) analyzes candlestick characteristics by measuring top and bottom wick lengths across the most recent 100 candles. It calculates the distance between the high/low and the open/close prices, determining the length of each candle's upper and lower wicks.
By converting these wick lengths into percentages relative to the total candle range, the indicator provides a standardized view of price action dynamics. The calculation involves comparing wick lengths against the full candle's high-low range, enabling traders to understand the proportional significance of price movements within each trading period.
Why it may be useful
Understanding wick percentages helps traders gain insights into market sentiment and potential price reversals by revealing the balance of buying and selling pressure. Longer wicks indicate significant price rejections or market indecision, suggesting potential trend changes or upcoming volatility.
By quantifying these wick characteristics, traders can better interpret market psychology and identify potential entry or exit points. The indicator provides a visual representation of market dynamics, allowing traders to assess the strength of price movements and potential trend continuation or reversal signals.
When to explore it
The Wick Percentages Table is most effective in volatile markets with significant price fluctuations, such as during economic news releases or periods of market uncertainty. It works best on shorter timeframes where price action is more pronounced and rapid changes in market sentiment are more likely.
Traders should use this indicator in conjunction with other technical analysis tools to confirm signals and validate potential trading opportunities. It is particularly useful for scalpers and day traders who rely on quick, precise market readings to make trading decisions.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
