We at Minions Labs always like to defy the stablished systems and beliefs trying new things and new ways of seeing and interpreting the Market Data. And all starts with the following question…
WHAT IF…
You give more relevance and focus on the Wicks/Shadows on the candlesticks?
And Why? In volatile markets wicks play an important role on determining who is winning the the fight between Bulls and Bears, and more than that, Higher and lower wicks can present you with a good status of the current trend and possible reversals and/or exhaustions.
Well, one way to “see” that is visually filter through the noise of bodies and thin lines, the other way is to use our Wicked Candles!
The name is intentionally a reference for a “Wicked” (perverse, cruel) candle that tries to fool us with its behavior… And, with our special Visual approach, it is easy to spot them!
HOW TO “READ” THIS INDICATOR
- Upper Wicks identify a retracement of the current movement meaning a BEARish impulse.
- Lower Wicks identify a retracement of the current movement meaning a BULLish impulse.
- Look for those patterns at Support & Resistance levels and you will start to see the market in a new way.
SETTINGS
- Just start with coloring your current candlestick chart in a way that will favor the Super Candles painting method. See the screenshots for examples.
- Then, apply your desired colors for Upper and Lower wicks.
- There are separate colors for Upper and Lower wicks when we have a BULLish and a BEARish candle, so you can track more precisely the movements of the market.
We are giving this indicator for FREE to help new traders to have the opportunity to try different things without any cost barrier, and also to promote New Ways of Thinking about Technical Analysis. Enjoy!
And, finally, for registration purposes, this idea of Wicked Candles came to life today, February, 27, 2021.
If you like this indicator, all I am asking is a little Review (not a Comment, but a REVIEW!)…
This will mean A LOT to me… And this way I can continue to give away Cool Stuff for Free…
With No Strings Attached! Ever!
Live Long and Prosper!
😉
