-Simple little tool to plot the wick CE: an ICT concept, consequent encroachment i.e. the midpoint line of a wick or tail; it being a potentially sensitive level (depending on context). -Wrote this to save me time drawing out fib retracement to locate the precise level of the wick CE. Example usage: show indicator, add horizontal ray over favored wick CE level, hide indicator.
~choose how many consecutive bars back to plot wick CE lines. ~choose how many bars forward to extend the wick CE lines.
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-increased max_bars_back and max_lines_count to allow for much larger lookback
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-added option to show candle body midlines too ('MT' = mean threshold)
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-added optional retracement levels (75% and 25% of high-low range); default is off. -added minimum wick size input (based on multiples of chart symbols mintick value) to filter out small wicks; (default = 1; i.e. will only filter out wick CEs where the wick is tiny or non-existent). -added option to show chart symbol's mintick value in top right corner of chart (default off).
I find this indicator very useful, if only the mid line will auto extend till it sill touched then it will be great. Try to do the extension but the old touched lines will be extended as well.