OPEN-SOURCE SCRIPT
Wick Snap Pressure [ZOM]
Wick Snap Pressure [ZOM] is an overlay pressure marker designed to highlight meaningful wick rejections only when they are supported by candle pressure, volume impulse, and stress context. The goal is to avoid treating every long wick as a signal. Instead, the script looks for a rejection candle that also has supporting evidence from lesser-used pressure tools.
The calculation combines four parts. First, wick rejection ratio checks whether the upper or lower wick is large enough relative to the candle body and total range to represent a visible rejection. Second, QStick measures smoothed close-minus-open candle pressure, which helps show whether recent candle bodies are leaning bullish or bearish. Third, Elder Force Index measures whether price movement is being supported by volume impulse. Fourth, Ulcer Index stress is used as a context filter so the script can avoid confirming snaps while adverse stress is still expanding.
Bullish watch markers appear when lower-wick rejection and early QStick pressure align before full confirmation. Bullish snap markers require stronger agreement: lower wick rejection, improving bullish QStick behavior, positive Force Index, and non-expanding stress. Bearish watch and bearish snap signals mirror the same logic using upper-wick rejection, negative QStick pressure, negative Force Index, and suitable stress behavior.
The visual layout is intentionally lightweight. It uses subtle bar coloring, small above/below-bar markers, and a compact dashboard instead of projected zones or static drawings. Mint markers represent bullish snap pressure, crimson markers represent bearish snap pressure, and gold watch markers show earlier setups that have not fully confirmed. The dashboard summarizes QStick pressure, Force Index direction, Ulcer stress bias, the most recent snap, and the composite bias.
I use this as a tape-reading and reaction aid around pullbacks, failed pushes, VWAP tests, prior swing levels, and local reversal attempts. It is not a standalone buy/sell system. Strong trend days can produce countertrend wick signals that fail, so the best use is as a confirmation layer alongside market structure, trend, liquidity context, and risk controls.
Key inputs include QStick length, Force Index length, Ulcer Index length, wick/body threshold, signal cooldown, marker offset, dashboard visibility, and palette colors. Lower wick thresholds create more signals. Higher thresholds demand more obvious rejection and reduce signal frequency.
Open-source [ZOM] script for educational use only. Not financial advice.
The calculation combines four parts. First, wick rejection ratio checks whether the upper or lower wick is large enough relative to the candle body and total range to represent a visible rejection. Second, QStick measures smoothed close-minus-open candle pressure, which helps show whether recent candle bodies are leaning bullish or bearish. Third, Elder Force Index measures whether price movement is being supported by volume impulse. Fourth, Ulcer Index stress is used as a context filter so the script can avoid confirming snaps while adverse stress is still expanding.
Bullish watch markers appear when lower-wick rejection and early QStick pressure align before full confirmation. Bullish snap markers require stronger agreement: lower wick rejection, improving bullish QStick behavior, positive Force Index, and non-expanding stress. Bearish watch and bearish snap signals mirror the same logic using upper-wick rejection, negative QStick pressure, negative Force Index, and suitable stress behavior.
The visual layout is intentionally lightweight. It uses subtle bar coloring, small above/below-bar markers, and a compact dashboard instead of projected zones or static drawings. Mint markers represent bullish snap pressure, crimson markers represent bearish snap pressure, and gold watch markers show earlier setups that have not fully confirmed. The dashboard summarizes QStick pressure, Force Index direction, Ulcer stress bias, the most recent snap, and the composite bias.
I use this as a tape-reading and reaction aid around pullbacks, failed pushes, VWAP tests, prior swing levels, and local reversal attempts. It is not a standalone buy/sell system. Strong trend days can produce countertrend wick signals that fail, so the best use is as a confirmation layer alongside market structure, trend, liquidity context, and risk controls.
Key inputs include QStick length, Force Index length, Ulcer Index length, wick/body threshold, signal cooldown, marker offset, dashboard visibility, and palette colors. Lower wick thresholds create more signals. Higher thresholds demand more obvious rejection and reduce signal frequency.
Open-source [ZOM] script for educational use only. Not financial advice.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.