Weekly charts using wicks

Hi

I have a good idea for trading the weekly charts on any chart

i prefer all major pairs

its easy

you need t0 see a lower wick thats minimum of 40 pips in length then within 2 candles the price goes halfway throgh the wick ,

for buying it needs to be a down candle with lower wick then a test of the middle ,,

for selling it needs to be up candle with higher wick then a test of the middle

stop loss is 50 pips take profit is next support or resistance

enjoy

to see the support resistance use a line chart

hope this helps

no wick no trade

an indicator that displays a color of the candle with the wick being 40 pips would be helpful

jamesagnew,
Your wish has been granted...

please share

Screenprint defines the Indicators and the Template is also attached.

what are the white numbers for ?

Overall Top and Bottom Pip Counter... Measures from the top to the bottom in Pips. The right number is real-time pip counter... Nice Indicator.

it repaints

All Indicators Repaint or Lag, which do you prefer... Nothing in any Trading Platform works precisely because all DATA is delayed from the Broker to MT4 / MT5 / Ninja Trader / TV... A simple FACT.

use this template below

basically if there is a red number with a red candle enter on next candle changing color enter long

opposite for shorts

green number with green candle next candle turns color just enter and hold for 1 week

if you get 100 pips just exit

exit when there is a week color change after entry ,

so say you enter short on red candle exit on green weekly candle close

easy

you can hold the trade for 500 pips no problem

basically pnly ext if there are 2 weekly candles the same color so red after red exit long

green after green exit short

target 500 if you get it

good luck

Examples please

Exactly, even just 1 example please.

This is the worst explained strategy that I have ever seen; I'm not even sure when to buy or sell, is it middle of previous weekly candle or middle of the wick?

Also, 50 pips for every pair are ridiculous, as is the 500 pips targets; the ADR is different for each pair.

Show us the 500 pips winners, make it easy for me with a picture, thanks.

here is a live trade on usdcad

cad long example

exit on 2 weekly candles in a row

my target is 750 pips

but i git iut with 233 pips on 2 candles colour change

Can someone explain better please? Please give clear examples. Where to entry, under what conditions and tp and SL. Thank you