Candle Wicks Length Display Indicator — MT4/MT5

Today, I present an improved version of my CandleWicks indicator. From being a simple alert script it becomes a more or less real indicator with some on-chart display. By the request of one of our forum users, I’ve coded a candle wicks length display feature for this indicator. It will show pip length of wicks (expressed in normal/standard pips) for wicks that are longer than a limit set by the trader via the input parameter. I still don’t want to add this indicator to the list of MetaTrader indicators on the site, because I have no clue how it can be used for trading. As with all other my indicators, it’s available for both MT4 and MT5 and is completely free:

New customizable input parameters:
DisplayWickLimit — minimum wick length in pips (standard/normal) for indicator to display it on chart.
DisplayHighWickColor — color for the top wick length.
DisplayLowWickColor — color for the bottom wick length.
DisplayWickDistance — distance from the candle high to the top wick length display (you will want to adjust it, depending on the chart timeframe and zoom level).
Old parameters description can be found CandleWicks.
Demo image (EUR/USD H1, DisplayWickLimit = 10):

Update 2013-02-08: You can also use the Candle Wicks indicator with percentage display if you need one.

If you have any comments or questions about this candlestick wick length display indicator, please reply using the form below.