Wickless Candle Indicator with Extended Lines (final)

20 feb

This Pine Script indicator identifies “wickless” candles—those with no upper wick (when the close equals the high) or no lower wick (when the open equals the low)—and marks these events on the chart. When such a candle is detected, it:

Records the Level and Bar Index:
Saves the price level (high for wickless tops, low for wickless bottoms) and the bar index where the condition occurred.

Draws an Extended Horizontal Line:
Creates a green horizontal line for a wickless top or a red line for a wickless bottom, starting at the detection bar and extending across subsequent bars as long as the price remains below (for tops) or above (for bottoms) the recorded level.

Resets When the Price Breaks the Level:
If a future bar’s price moves beyond the saved level (i.e., a high above a wickless top or a low below a wickless bottom), the indicator resets that level, ending the extension of the line.

Visual Markers:
Additionally, it plots a small triangle above a wickless top and below a wickless bottom for easy identification on the chart.

Overall, this script helps traders visualize potential support or resistance levels created by candles that close at their highs or open at their lows, with lines that dynamically adjust as price evolves.

21 feb

Notas de prensa

This Pine Script indicator identifies “wickless” candles—those with no upper wick (when the close equals the high) or no lower wick (when the open equals the low)—and marks these events on the chart. When such a candle is detected, it:

Records the Level and Bar Index:
Saves the price level (high for wickless tops, low for wickless bottoms) and the bar index where the condition occurred.

Draws an Extended Horizontal Line:
Creates a green horizontal line for a wickless top or a red line for a wickless bottom, starting at the detection bar and extending across subsequent bars as long as the price remains below (for tops) or above (for bottoms) the recorded level.

Resets When the Price Breaks the Level:
If a future bar’s price moves beyond the saved level (i.e., a high above a wickless top or a low below a wickless bottom), the indicator resets that level, ending the extension of the line.

Visual Markers:
Additionally, it plots a small triangle above a wickless top and below a wickless bottom for easy identification on the chart.

Overall, this script helps traders visualize potential support or resistance levels created by candles that close at their highs or open at their lows, with lines that dynamically adjust as price evolves.