OPEN-SOURCE SCRIPT
Updated A Reversal Candle Detector (15m)
Reversal Candle Detector (15m)
Detects potential reversal candles on the 15m timeframe based on wick spike analysis. Works on any lower timeframe chart.
A signal triggers when the candle range exceeds the minimum threshold and the upper or lower wick is at least 50% of the total range — a classic rejection pattern.
🔴 Short — long upper wick
🟢 Long — long lower wick
Includes target zone rectangles, range % label on every candle, live updates on the forming candle, and alerts before and at candle close.
⚠️ Alerts work correctly only when the chart is set to the 15m timeframe.
Settings:
Min candle range threshold (separate for upper and lower spike)
Min wick % of total range
Rectangle height, width and transparency
Range % label size and color (yellow if ≥ 1.5%)
Price label and arrow symbol toggle
Market session lines (London, New York, Tokyo, Sydney)
Detects potential reversal candles on the 15m timeframe based on wick spike analysis. Works on any lower timeframe chart.
A signal triggers when the candle range exceeds the minimum threshold and the upper or lower wick is at least 50% of the total range — a classic rejection pattern.
🔴 Short — long upper wick
🟢 Long — long lower wick
Includes target zone rectangles, range % label on every candle, live updates on the forming candle, and alerts before and at candle close.
⚠️ Alerts work correctly only when the chart is set to the 15m timeframe.
Settings:
Min candle range threshold (separate for upper and lower spike)
Min wick % of total range
Rectangle height, width and transparency
Range % label size and color (yellow if ≥ 1.5%)
Price label and arrow symbol toggle
Market session lines (London, New York, Tokyo, Sydney)
Release Notes
fixed alertRelease Notes
Added a yellow ! warning above the candle when both upper and lower wicks exceed the threshold at the same time (double spike — no signal generated)Release Notes
piccola variazione al punto esclamativoOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.