Wick Rejection Signal Indicator - Jamil
Wick Rejection Pro is a price-action based rejection detector designed to identify strong wick rejections using both absolute range filtering and structural confirmation logic.
Unlike basic hammer or pin bar scanners, this script does not rely only on candle shape. It measures real price displacement and validates rejection strength before generating a signal.
🔍 Core Concept
Markets often reject extreme price levels before reversing.
This rejection appears as a long upper or lower wick.
This script quantifies that behavior using two filters:
Absolute Wick Size (Dollar/Point Based)
Wick-to-Total-Range Ratio
Both conditions must be satisfied before a setup is considered valid.
⚙ How It Works
1️⃣ Wick Measurement
Lower wick = Body low − Candle low
Upper wick = Candle high − Body high
Total range = High − Low
The script calculates:
Exact wick size in price units
Wick percentage relative to full candle range
2️⃣ Rejection Qualification
A wick is considered valid only if:
Wick size ≥ User-defined threshold
Wick ratio ≥ Minimum rejection ratio
Candle closes back inside structure
This prevents weak or noisy wicks from triggering signals.
3️⃣ Signal Confirmation Logic
BUY Signal:
Strong lower wick detected
Candle closes above body low (bullish rejection confirmation)
SELL Signal:
Strong upper wick detected
Candle closes below body high (bearish rejection confirmation)
Signals trigger once per candle and do not repaint.
🎯 Recommended Market & Settings
This indicator was specifically tested on XAU/USD (Gold) where wick volatility is common.
📌 Recommended starting value for Gold:
Wick Threshold: 8 dollars
Rejection Ratio: 0.5 (50%)
These values help filter noise while capturing meaningful liquidity rejections.
You may adjust threshold values depending on:
Instrument volatility
Timeframe
Session behavior
⚠ Volume Consideration
During extremely high-volume spikes (such as major news releases), price can form exaggerated wicks that invalidate normal rejection logic.
No indicator is fully reliable during abnormal volatility conditions.
It is recommended to avoid signals during extreme volume expansion.
📌 Features
Adjustable wick threshold (absolute price filter)
Adjustable rejection ratio filter
Buy & Sell signal toggles
Custom signal size
Non-repainting logic
Alert conditions included
Debug data window for wick statistics
🧠 Intended Use
Designed for traders who apply:
Liquidity grab setups
Gold scalping
Session reversals
Wick-based price action strategies
This is a structured wick rejection engine — not a simple candle pattern labeler.
Disclaimer:
For educational purposes only. Always use proper risk management.
Unlike basic hammer or pin bar scanners, this script does not rely only on candle shape. It measures real price displacement and validates rejection strength before generating a signal.
🔍 Core Concept
Markets often reject extreme price levels before reversing.
This rejection appears as a long upper or lower wick.
This script quantifies that behavior using two filters:
Absolute Wick Size (Dollar/Point Based)
Wick-to-Total-Range Ratio
Both conditions must be satisfied before a setup is considered valid.
⚙ How It Works
1️⃣ Wick Measurement
Lower wick = Body low − Candle low
Upper wick = Candle high − Body high
Total range = High − Low
The script calculates:
Exact wick size in price units
Wick percentage relative to full candle range
2️⃣ Rejection Qualification
A wick is considered valid only if:
Wick size ≥ User-defined threshold
Wick ratio ≥ Minimum rejection ratio
Candle closes back inside structure
This prevents weak or noisy wicks from triggering signals.
3️⃣ Signal Confirmation Logic
BUY Signal:
Strong lower wick detected
Candle closes above body low (bullish rejection confirmation)
SELL Signal:
Strong upper wick detected
Candle closes below body high (bearish rejection confirmation)
Signals trigger once per candle and do not repaint.
🎯 Recommended Market & Settings
This indicator was specifically tested on XAU/USD (Gold) where wick volatility is common.
📌 Recommended starting value for Gold:
Wick Threshold: 8 dollars
Rejection Ratio: 0.5 (50%)
These values help filter noise while capturing meaningful liquidity rejections.
You may adjust threshold values depending on:
Instrument volatility
Timeframe
Session behavior
⚠ Volume Consideration
During extremely high-volume spikes (such as major news releases), price can form exaggerated wicks that invalidate normal rejection logic.
No indicator is fully reliable during abnormal volatility conditions.
It is recommended to avoid signals during extreme volume expansion.
📌 Features
Adjustable wick threshold (absolute price filter)
Adjustable rejection ratio filter
Buy & Sell signal toggles
Custom signal size
Non-repainting logic
Alert conditions included
Debug data window for wick statistics
🧠 Intended Use
Designed for traders who apply:
Liquidity grab setups
Gold scalping
Session reversals
Wick-based price action strategies
This is a structured wick rejection engine — not a simple candle pattern labeler.
Disclaimer:
For educational purposes only. Always use proper risk management.
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.
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.