Wick Ratio Indicator

Script Description: Wick Ratio Indicator

This Pine Script indicator identifies candlesticks with dominant upper or lower wicks and visually marks them on the chart. It helps traders spot potential price rejection signals, often used to anticipate trend reversals or breakout opportunities. Key Features
Wick Length Calculation

Upper Wick: high - max(open, close)
(Measures distance from the highest price to the candle body's top)

Lower Wick: min(open, close) - low
(Measures distance from the candle body's bottom to the lowest price)

Comparison Logic

Green Triangle (▲): Plotted above the candle when the upper wick is longer (bearish rejection signal).

Red Triangle (▼): Plotted below the candle when the lower wick is longer (bullish rejection signal).

Visual Simplicity

Non-intrusive design that overlays directly on price action.

Customizable colors and sizes (modifiable in settings).