OPEN-SOURCE SCRIPT
SkrillaTrades Big Wick Energy
SKRILLATRADES BIG WICK ENERGY
OVERVIEW
Big Wick Energy is a wick-based liquidity indicator designed to identify candles that produced unusually large rejection wicks. When a large wick forms, it often represents a liquidity grab, stop run, aggressive rejection, or unfinished auction.
The indicator automatically detects wick lengths that fall within user-defined ranges and plots a box around the wick area. These boxes create visual zones that traders can monitor for future price interaction.
Many times after a strong rejection, price will eventually retrace back into the wick. These retracements frequently act as:
• Support or resistance zones
• Liquidity rebalancing areas
• Mitigation zones
• Reaction zones for continuation trades
• Potential reversal locations
The larger the wick, the more significant the rejection was at that price level. Large wicks often indicate that substantial order flow occurred in that area, which is why price commonly revisits them later.
FEATURES
• Detects upper wicks, lower wicks, or both
• Optional bullish-only or bearish-only candle filtering
• Draws boxes around qualifying wick zones
• Optional centerline through each box
• Custom colors for each wick size range
• Adjustable transparency and border styles
• Extend boxes a fixed number of bars
• Extend boxes until price crosses through the zone
• Automatic cleanup to prevent TradingView object limit issues
HOW TO USE
Bullish Example:
1. A candle forms with a very large lower wick.
2. The indicator draws a box around that wick.
3. Price rallies away.
4. Later price retraces into the wick zone.
5. Traders can watch for bullish reactions inside the box.
Bearish Example:
1. A candle forms with a very large upper wick.
2. The indicator draws a box around that wick.
3. Price sells off.
4. Later price retraces back into the wick zone.
5. Traders can watch for bearish reactions inside the box.
CENTERLINE
Each box can display a centerline.
The centerline marks the 50% level of the wick and can be used as:
• Midpoint support/resistance
• Mitigation level
• Equilibrium level
• First reaction area inside the wick zone
DEFAULT SETTINGS
GENERAL
Wick Side:
• Both
Candle Filter:
• All Candles
Max Boxes To Keep:
• 250
Extend Left Bars:
• 0
Extend Right Bars:
• 200
Extend Until Price Crosses:
• Off
CENTERLINE
Show Centerline:
• On
Centerline Style:
• Dotted
Centerline Width:
• 1
RANGE SETTINGS
Range 1
• OFF
• 10–50 Points
• Blue
Range 2
• ON
• 50–100 Points
• Orange
Range 3
• ON
• 101–300 Points
• Red
Range 4
• OFF
• 301–400 Points
• Purple
Range 5
• OFF
• 401–500 Points
• Green
Range 6
• OFF
• 501–999 Points
• Yellow
DEFAULT PURPOSE
The default configuration focuses on identifying medium-to-large rejection wicks while filtering out smaller market noise. This allows traders to concentrate on the most meaningful liquidity events and monitor those zones for future retracements and reactions.
OVERVIEW
Big Wick Energy is a wick-based liquidity indicator designed to identify candles that produced unusually large rejection wicks. When a large wick forms, it often represents a liquidity grab, stop run, aggressive rejection, or unfinished auction.
The indicator automatically detects wick lengths that fall within user-defined ranges and plots a box around the wick area. These boxes create visual zones that traders can monitor for future price interaction.
Many times after a strong rejection, price will eventually retrace back into the wick. These retracements frequently act as:
• Support or resistance zones
• Liquidity rebalancing areas
• Mitigation zones
• Reaction zones for continuation trades
• Potential reversal locations
The larger the wick, the more significant the rejection was at that price level. Large wicks often indicate that substantial order flow occurred in that area, which is why price commonly revisits them later.
FEATURES
• Detects upper wicks, lower wicks, or both
• Optional bullish-only or bearish-only candle filtering
• Draws boxes around qualifying wick zones
• Optional centerline through each box
• Custom colors for each wick size range
• Adjustable transparency and border styles
• Extend boxes a fixed number of bars
• Extend boxes until price crosses through the zone
• Automatic cleanup to prevent TradingView object limit issues
HOW TO USE
Bullish Example:
1. A candle forms with a very large lower wick.
2. The indicator draws a box around that wick.
3. Price rallies away.
4. Later price retraces into the wick zone.
5. Traders can watch for bullish reactions inside the box.
Bearish Example:
1. A candle forms with a very large upper wick.
2. The indicator draws a box around that wick.
3. Price sells off.
4. Later price retraces back into the wick zone.
5. Traders can watch for bearish reactions inside the box.
CENTERLINE
Each box can display a centerline.
The centerline marks the 50% level of the wick and can be used as:
• Midpoint support/resistance
• Mitigation level
• Equilibrium level
• First reaction area inside the wick zone
DEFAULT SETTINGS
GENERAL
Wick Side:
• Both
Candle Filter:
• All Candles
Max Boxes To Keep:
• 250
Extend Left Bars:
• 0
Extend Right Bars:
• 200
Extend Until Price Crosses:
• Off
CENTERLINE
Show Centerline:
• On
Centerline Style:
• Dotted
Centerline Width:
• 1
RANGE SETTINGS
Range 1
• OFF
• 10–50 Points
• Blue
Range 2
• ON
• 50–100 Points
• Orange
Range 3
• ON
• 101–300 Points
• Red
Range 4
• OFF
• 301–400 Points
• Purple
Range 5
• OFF
• 401–500 Points
• Green
Range 6
• OFF
• 501–999 Points
• Yellow
DEFAULT PURPOSE
The default configuration focuses on identifying medium-to-large rejection wicks while filtering out smaller market noise. This allows traders to concentrate on the most meaningful liquidity events and monitor those zones for future retracements and reactions.
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.