Few days ago a member of our Forex forum has asked for an EA (he actually meant an indicator) that would notify him by e-mail whenever a candlestick closes with a wick (shadow) exceeding a certain length. I couldn’t find such an indicator on-line and decided to code one myself. Since it doesn’t indicate anything on the chart, I didn’t want to add it to the list of the MetaTrader indicators — it’s a just a notification script after all — so, I’ve decided to share it here. You can download this indicator for MT4 or MT5 for free:
CandleWicks for MetaTrader 4
CandleWicks for MetaTrader 5
It’s quite customizable. You can change the following input parameters to fit it to your trading needs:
UpperWickLimit and LowerWickLimit — the length of the wicks (shadows) in pips that would trigger the alert.
WaitForClose — wait for the candlestick to close before analyzing it for alert. Keeping it “true” is recommended.
EmailAlert — send an e-mail alert.
SoundAlert — use a sound alert.
VisualAlert — use a visual MetaTrader-style alert.
Update: There is now an improved version of this indicator with candle wick length display on chart.
If you have any comments or questions about this candlestick notification indicator, please, reply using the form below.
