First Candle Wicks Screener


Look for characteristics of the last candle using the wicks and body’s relative size. This can be used to detect candlestick patterns like Hammers, Hanging Man or Pin Bars. See Candlestick Pattern Dictionary

You can also configure the screener to detect other pattern candles, as long as the pattern can be defined in terms of body, bearish and bullish wicks relative to the total range of the candle.

See the following images to understand what is being referred as body, bearish and bullish wick.

Bullish Candle

 

 

 

Screen Shot 2015-09-07 at 10.59.47

 Bearish Candle

Screen Shot 2015-09-07 at 10.59.34

 

The wicks and bodies are specified in terms of relative size to the complete range of the candle.

Screen Shot 2015-09-07 at 11.07.14

In the previous example, the bullish wick, that is the wick on the bottom of the candle, is 100 points or 16% of the total range of the candle (617).

The bearish wick, the wick on the top of the candle, if 71 points which corresponds to 12% of the candle total range.

The body is 446 point or 72% of the candle range.

 

Example of a bullish wick candle

bullish_candel_wick

Example of a bearish wick candle

This screener is divided in two sub-screeners. One of the screeners is used to detect Bullish signals and the other is used to detect Bearish Signals.

General Candle wick Screener

Parameter Name Parameter Type Description Default value/allowed values
candle_wick_screener_enabled bool Whether this screener is enabled or not Default value: false

Allowed values:

  • true
  • false

 

Bearish Candle wick Screener

This is the configuration to detect bearish signals based on candle wicks.

Parameter Name Parameter Type Description Default value/allowed values
cws_bearish_min_bulish_relative_wick float A relative number (0-1) indicating the minimum percentage of the the bullish wick 0.0 to 1.0
cws_bearish_max_bulish_relative_wick float A relative number (0-1) indicating the maximum percentage of the the bullish wick 0.0 to 1.0
cws_bearish_min_bearish_relative_wick float A relative number (0-1) indicating the minimum percentage of the the bearish wick 0.0 to 1.0
cws_bearish_max_bearish_relative_wick float A relative number (0-1) indicating the maximum percentage of the the bearish wick 0.0 to 1.0
cws_bearish_min_relative_body float The min of the % of the body

TODO: This is not required once you work with the previous values. This is to be removed

0.0 to 1.0
cws_bearish_max_relative_body float The min of the % of the body

This is not required once you work with the previous values. This is to be removed in future versions.

0.0 to 1.0

 

Bullish Candle Wick Screener

This is the configuration to detect buy signals based on candle wicks

Parameter Name Parameter Type Description Default value/allowed values
cws_bullish_min_bulish_relative_wick float A relative number (0-1) indicating the minimum percentage of the the bullish wick 0.0 to 1.0
cws_bullish_max_bulish_relative_wick float A relative number (0-1) indicating the maximum percentage of the the bullish wick 0.0 to 1.0
cws_bullish_min_bearish_relative_wick float A relative number (0-1) indicating the minimum percentage of the the bearish wick 0.0 to 1.0
cws_bullish_max_bearish_relative_wick float A relative number (0-1) indicating the maximum percentage of the the bearish wick 0.0 to 1.0
cws_bullish_min_relative_body float The min of the % of the body

TODO: This is not required once you work with the previous values. This is to be removed

0.0 to 1.0
cws_bullish_max_relative_body float The min of the % of the body

TODO: This is not required once you work with the previous values. This is to be removed

0.0 to 1.0

Use the form bellow or the commenting area to leave your comments, inquiries, questions and feedback.