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Candle Breakdown
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=65712
Forum: 17 · Topic 65712 · 1 post(s)
Candle Breakdown
Apprentice · Fri Feb 09, 2018 6:00 am
If “Add Body” is on and Add Wick is off. The indicator will be the sum of up and down Candle Body in last N periods.
My initial assumption was. Down wicks give bullish signal. Up wicks give bearish signal.
Observation did not confirm this assumption.
I noticed wicks are contrarian signal, therefore inverse logic has been used.
If used wicks are added fo sum.