OPEN-SOURCE SCRIPT
50% High-Probability M15 Wicks
Description
This indicator isolates high-probability liquidity grabs and institutional reference points by tracking M15 (15-minute) candle wicks that exhibit unusual size and volume. It automatically calculates and projects the 50% equilibrium level of these specific wicks as key horizontal support/resistance areas.
Engineered for multi-temporal flexibility, it allows you to scale down to lower execution timeframes (M1, M5) or up to macro views (H1, H4) while maintaining the precise M15 levels fixed on your chart.
What it tracks & Why:
High-Probability Wick Filter: It calculates the average wick size over a specific period and only triggers when a 15-minute wick exceeds this average by a custom multiplier, ensuring it only flags significant market expansions.
Liquidity Sweeps: It validates the setup by confirming that the wick successfully swept the previous candle's high or low, signaling a true hunt for stops before a reversal.
Smart Proximity Mitigation: To maintain a clean workspace and avoid false signals, the indicator automatically deletes active levels in real-time if the price mitigates the 50% level or approaches it within a custom % ATR threshold (pre-mitigation zone).
Key Features:
True MTF Precision: Swap between any timeframe without lines shifting, breaking, or disappearing.
Real-time Price Labels: Displays floating current prices next to active levels for quick execution.
Fully Customizable Visuals: Easily toggle line styles (dotted, dashed, solid), thickness, transparency, and text sizes directly from the settings menu.
This indicator isolates high-probability liquidity grabs and institutional reference points by tracking M15 (15-minute) candle wicks that exhibit unusual size and volume. It automatically calculates and projects the 50% equilibrium level of these specific wicks as key horizontal support/resistance areas.
Engineered for multi-temporal flexibility, it allows you to scale down to lower execution timeframes (M1, M5) or up to macro views (H1, H4) while maintaining the precise M15 levels fixed on your chart.
What it tracks & Why:
High-Probability Wick Filter: It calculates the average wick size over a specific period and only triggers when a 15-minute wick exceeds this average by a custom multiplier, ensuring it only flags significant market expansions.
Liquidity Sweeps: It validates the setup by confirming that the wick successfully swept the previous candle's high or low, signaling a true hunt for stops before a reversal.
Smart Proximity Mitigation: To maintain a clean workspace and avoid false signals, the indicator automatically deletes active levels in real-time if the price mitigates the 50% level or approaches it within a custom % ATR threshold (pre-mitigation zone).
Key Features:
True MTF Precision: Swap between any timeframe without lines shifting, breaking, or disappearing.
Real-time Price Labels: Displays floating current prices next to active levels for quick execution.
Fully Customizable Visuals: Easily toggle line styles (dotted, dashed, solid), thickness, transparency, and text sizes directly from the settings menu.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.