Melissa 2-Candle EMA Wick Break Indicator**Melissa 2-Candle EMA Wick Break Indicator**
The Melissa 2-Candle EMA Wick Break Indicator is designed to identify simple momentum-based continuation entries after price crosses an Exponential Moving Average.
The indicator looks for a two-candle confirmation pattern using two candles of the same colour. For a bullish setup, two green candles must form while price moves from at or below the EMA to closing above it. For a bearish setup, two red candles must form while price moves from at or above the EMA to closing below it.
Once the two-candle setup is confirmed, the indicator does not trigger an entry immediately. Instead, it waits for price to break the wick of the second candle. A long entry signal appears when price breaks above the second candle’s high, and a short entry signal appears when price breaks below the second candle’s low.
The indicator also plots the EMA, setup markers, pending wick-break levels, entry signals, and optional stop loss and take profit reference levels. The default trade example is based on 10 contracts with a $300 target, but these values can be adjusted in the settings.
This tool is intended to help traders visually identify cleaner EMA crossover opportunities with confirmation, rather than entering on the first touch or break of the moving average.
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