Forex Indicator “Wicks of Candles” for MT4/MT5

Wicks (candle shadows) are a key part of price action analysis because they show us potential price reversals at the very earliest stage, while also validating support and resistance levels in the market. Wicks can form on the top, bottom or both sides of a candle and represent the highs and lows of the price action for that candle on selected time period. Doing a price action analysis, it is important to know that wicks are areas where the market simply rejected the prices of the wick.

Analyzing charts, we can find candles without upper wick or without lower wick (example of such candlestick is hammer) or without any wick (e.g. marubozu). Such type of candles gives trades a strong signal of advantage by either buyers or sellers, depending on whether the direction of the candle is up or down.

Forex Indicator “Wicks of Candles” for MT4 & MT5 is finding candles without wick over or below candle body. With this forex tool, you don’t have to make laborious and time-consuming chart analysis to find candles without wicks. This Indicator mark for you all candles without shadow on one or both sides.