OPEN-SOURCE SCRIPT
Wick x2 Body + 2-Candle Trend [Gold Futures]
This indicator highlights potential reversal candles on Gold Futures using a combination of wick/body ratio and trend confirmation.
🔍 Logic:
Highlights a candle yellow when:
The wick is at least 2x the size of the body
The total candle size is ≥ 50 ticks (5 points)
The previous 2 candles are in the same direction (bullish or bearish) as the wick candle
📈 Interpretation:
Bullish Signal = Long lower wick on a green candle, following 2 bullish candles
Bearish Signal = Long upper wick on a red candle, following 2 bearish candles
Use this to spot overextended moves that may be due for a reversal — especially around key zones or session opens.
🔍 Logic:
Highlights a candle yellow when:
The wick is at least 2x the size of the body
The total candle size is ≥ 50 ticks (5 points)
The previous 2 candles are in the same direction (bullish or bearish) as the wick candle
📈 Interpretation:
Bullish Signal = Long lower wick on a green candle, following 2 bullish candles
Bearish Signal = Long upper wick on a red candle, following 2 bearish candles
Use this to spot overextended moves that may be due for a reversal — especially around key zones or session opens.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.