OPEN-SOURCE SCRIPT
Wick-off Check Moving Average [Misu]
█ This Indicator shows a wick-off check pattern applied to a moving average.
This pattern appears when a candle opens below the moving average and closes above it, or when it opens above a moving average and closes below it. This causes a wick to go through the moving average: a wick-off check moving average.
█ Usages:
This indicator detects small pullbacks in a trend. This is mainly used for trading continuation strategies.
It can also be used to validate a resistance or support level .
█ Features:
> Average Wick Validation: You can validate a wick-off check pattern depending on the average wick size. This is configured with parameters "Lenght Avg Wick Validation" and "Factor Wick Validation".
> Trend Validation: A trend is taken into account when detecting a "continuation pattern". A trend is validated if X candles close above (up trend) or under (down trend) the moving average. This "X" is defined by "Length Bar - Trend Validation" parameter.
> Buy and Sell: Labels are showing wick-of check patterns but can be interpreted as a buy & sell signal.
> Multi Moving Average.
> Alerts.
█ Parameters:
Method Multi MA: The method for calculating the moving average.
Multi MA Length: The length used to calculate the moving average.
Length Bar - Trend Validation: Define the number of bar needed to validate a trend. When price is above the MA, trend is up. When price is under MA, trend is down.
Wickoff Mode: Mode used to detect Wickoff check pattern.
> continuation pattern: only shows wick-off check pattern in a confirmed trend.
> no trend in progress: only shows wick-off check pattern in a not confirmed trend.
> both: shows both.
Lenght Avg Wick Validation: Lenght used to calculate the average wick size.
Factor Wick Validation: Factor used to validate the length of a wick when a wick-off check is detected.
This pattern appears when a candle opens below the moving average and closes above it, or when it opens above a moving average and closes below it. This causes a wick to go through the moving average: a wick-off check moving average.
█ Usages:
This indicator detects small pullbacks in a trend. This is mainly used for trading continuation strategies.
It can also be used to validate a resistance or support level .
█ Features:
> Average Wick Validation: You can validate a wick-off check pattern depending on the average wick size. This is configured with parameters "Lenght Avg Wick Validation" and "Factor Wick Validation".
> Trend Validation: A trend is taken into account when detecting a "continuation pattern". A trend is validated if X candles close above (up trend) or under (down trend) the moving average. This "X" is defined by "Length Bar - Trend Validation" parameter.
> Buy and Sell: Labels are showing wick-of check patterns but can be interpreted as a buy & sell signal.
> Multi Moving Average.
> Alerts.
█ Parameters:
Method Multi MA: The method for calculating the moving average.
Multi MA Length: The length used to calculate the moving average.
Length Bar - Trend Validation: Define the number of bar needed to validate a trend. When price is above the MA, trend is up. When price is under MA, trend is down.
Wickoff Mode: Mode used to detect Wickoff check pattern.
> continuation pattern: only shows wick-off check pattern in a confirmed trend.
> no trend in progress: only shows wick-off check pattern in a not confirmed trend.
> both: shows both.
Lenght Avg Wick Validation: Lenght used to calculate the average wick size.
Factor Wick Validation: Factor used to validate the length of a wick when a wick-off check is detected.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.