No Wick Strategy (No-wick candles) — by Sh1n1gam1

13 ago

**No Wick Strategy - Momentum Trading System**

This strategy identifies and trades "no wick" or "minimal wick" candles, which often indicate strong directional momentum and conviction in the market.

**STRATEGY CONCEPT:**
The No Wick Strategy capitalizes on candles that show strong directional commitment - bullish candles with little to no bottom wick (buyers in control from the start) and bearish candles with little to no top wick (sellers dominating from the open).

**HOW IT WORKS:**

📈 **LONG ENTRIES:**
- Identifies bullish candles with minimal/no bottom wick
- Places buy limit order slightly below the signal candle's open
- Enters only during specified trading session

📉 **SHORT ENTRIES:**
- Identifies bearish candles with minimal/no top wick
- Places sell limit order slightly above the signal candle's close
- Enters only during specified trading session

**KEY FEATURES:**
✅ Customizable trading session (New York timezone)
✅ Flexible wick threshold (0% for strict, up to X% for flexibility)
✅ ATR-based stop loss for dynamic risk management
✅ Configurable risk-reward ratio via TP multiplier
✅ Auto-cancellation of unfilled orders after X bars
✅ Body size filters (minimum and maximum)
✅ Visual signals and pending order levels
✅ Position status display

**RISK MANAGEMENT:**
- Stop Loss: Based on ATR multiplier
- Take Profit: Multiple of stop loss distance
- One position at a time
- No pyramiding or position flipping

**RECOMMENDED TIMEFRAMES:**
- M1 and M5 for scalping
- M15 and H1 for day trading
- H4 and Daily for swing trading

**MARKETS:**
Suitable for forex pairs, indices (NQ, ES), commodities, and liquid stocks.

**DEFAULT SETTINGS:**
- Trading Session: 09:30-11:00 ET (NY morning session)
- ATR SL Multiplier: 1.5
- TP Multiplier: 2.0 (2:1 RR ratio)
- Wick Threshold: 5%
- Order Cancellation: 5 bars

**TIPS FOR OPTIMIZATION:**
1. Adjust trading session to match your market's most active hours
2. Test different wick thresholds (0-10%) based on market volatility
3. Optimize body size filters for your specific instrument
4. Backtest different ATR multipliers for your risk tolerance
5. Consider market conditions - works best in trending markets

**IMPORTANT NOTES:**
- Uses limit orders for better entry prices
- Does not close opposing positions (no position flipping)
- Respects trading session boundaries strictly
- All times are in America/New_York timezone

**AUTHOR:** Sh1n1gam1
**VERSION:** 1.0
**SUPPORT:** Comments and suggestions welcome!

Happy Trading! 📊

13 ago

Note di rilascio

I see you have an advanced version of the No Wick Strategy with additional features! This is a much more sophisticated implementation that includes:
Key Enhancements Over Basic Version:
Risk Management Features:

Risk-based position sizing - Calculates position size based on % of equity at risk
Partial take profits - Close a portion at R=1.0 (or custom R)
Break-even stop management - Move stop to entry when reaching profit target
Trailing stop options - ATR-based or percentage-based trailing

Visual Features:

Risk/Reward boxes - Visual representation of risk and reward zones
Live R-multiple display - Shows current R during trades
Risk information labels - Shows risk in $, %, and RR ratio
Historical trade visualization - Keeps past trade boxes on chart

Additional Controls:

Point value configuration for different instruments
More granular control over all parameters
Alert conditions for signals and fills
Mode indicator (risk-based vs fixed sizing)

This is a professional-grade strategy! Here are some observations and suggestions:
Strengths:

Excellent risk management - The risk-based sizing ensures consistent risk per trade
Flexible exit management - Multiple exit strategies can work together
Clear visual feedback - Great for learning and monitoring trades
Proper session handling - Correctly uses NY timezone

Potential Optimizations:

For different markets:

Futures (ES, NQ): Set point value to $50 for ES, $20 for NQ
Forex: Adjust point value based on pip value
Stocks: Point value = 1 typically


Suggested parameter ranges for testing:

ATR Multiplier: 1.5-3.0 (lower for scalping, higher for swing)
Partial TP R: 0.5-1.5 (take some profit early)
BE Trigger: 0.75-1.25 (protect capital once in profit)


Session times to consider:

09:30-10:30 - First hour (highest volatility)
09:30-11:00 - Morning session
14:00-15:30 - Afternoon momentum



Would you like me to:

Add any additional features to this strategy?
Create a simplified version with just the essential advanced features?
Help optimize the parameters for a specific market?
Add more sophisticated entry filters?

13 ago

Note di rilascio

No Wick Strategy - Complete Professional Trading System
This is a comprehensive momentum-based trading strategy that identifies and trades "no wick" candles - a powerful price action pattern indicating strong directional conviction in the market.
Core Strategy Concept:
The strategy capitalizes on candles that show immediate directional commitment:

Bullish Setup: Candles with minimal/no bottom wick (buyers controlled from open)
Bearish Setup: Candles with minimal/no top wick (sellers dominated from open)

These patterns often indicate strong momentum as they show one side was in complete control throughout the candle formation.
Entry Mechanics:

Long Entry: Places buy limit order below the bullish signal candle's open
Short Entry: Places sell limit order above the bearish signal candle's close
Uses limit orders for better fills and to avoid chasing
Orders auto-cancel after X bars if unfilled

Position Sizing Options:

Fixed Contracts: Simple fixed position size
Risk % of Equity: Calculates position size to risk X% of account
Fixed Dollar Risk: Risks a specific dollar amount per trade

Risk Management Framework:
Initial Risk Setup:

Stop loss based on ATR multiplier (dynamic to market volatility)
Take profit as multiple of stop distance (configurable R:R ratio)
Visual risk/reward boxes show exact zones

Advanced Exit Management:

Partial Take Profit

Close portion of position at first target (e.g., 50% at 1R)
Let remainder run to full target


Break-Even Management

Moves stop to entry once reaching profit threshold
Protects capital while allowing upside


Trailing Stop Options

ATR-based trailing (adapts to volatility)
Percentage-based trailing (fixed % from price)



Session Management:

Trades only during specified hours (NY timezone)
Default: 09:30-11:00 (captures morning volatility)
No overnight risk - pure day trading approach

Entry Filters:

Wick Threshold: 0-100% tolerance for wick size
Body Size Limits: Min/max candle body requirements
Session Filter: Only trades during active hours

Performance Analytics:
Real-Time Backtest Table Shows:

Total trades, wins, losses
Win rate percentage
Net profit/loss
Profit factor
Average trade profit
Average R-multiple
Maximum drawdown ($ and %)

Live Position Monitoring:

Current R-multiple display
Dynamic risk in dollars and percentage
Stop loss level updates
Visual trade progression

Visual Features:

🟢 Green arrows for bullish signals
🔴 Red arrows for bearish signals
Risk/reward boxes for active trades
Historical trade visualization
Session highlighting
Mode indicator (Risk % vs Fixed $ vs Fixed Qty)

Alert System:

Signal detection alerts
Order fill notifications
Position closure alerts
Customizable alert messages

Optimal Use Cases:
Best Market Conditions:

Trending markets with clear momentum
High volume sessions
Markets with clean price action

Recommended Timeframes:

Scalping: 1-5 minute charts
Day Trading: 15-60 minute charts
Swing Trading: 4H-Daily charts

Suitable Markets:

Futures (ES, NQ, CL, GC)
Forex major pairs
Liquid stocks and ETFs
Cryptocurrencies

Key Advantages:

Objective Entry Rules - No subjective interpretation
Complete Risk Framework - Multiple exit strategies
Professional Analytics - Real-time performance metrics
Flexible Position Sizing - Adapts to account size
Visual Clarity - See exactly where risk/reward lies

14 ago

Note di rilascio

No Wick Strategy - Sh1n1gam1 | Professional Trading System
This is the final evolution of the No Wick Strategy, featuring advanced confluence filters and enhanced session visualization. Here's the complete breakdown of this sophisticated trading system:
Core Strategy Logic:
The strategy identifies powerful momentum candles characterized by absent or minimal wicks on the entry side, signaling strong directional conviction where one side dominated throughout the candle formation.
Entry Patterns:

Bullish Signal: Candles with minimal/no bottom wick (buyers in control from open)
Bearish Signal: Candles with minimal/no top wick (sellers in control from open)
Limit orders placed at strategic pullback levels for optimal entry pricing

🆕 NEW FEATURES IN THIS VERSION:
1. EMA Confluence Filter (NEW)

Optional trend filter using Exponential Moving Average
Long trades: Only when price > EMA
Short trades: Only when price < EMA
Customizable EMA period and source
Visual EMA line on chart
Helps filter trades in the direction of the trend

2. NY Session Visualization Boxes (NEW)

Displays high/low range boxes for each NY session
Visual session boundaries (default 09:30-16:00)
Shows session volatility and range
Helps identify key support/resistance levels
Historical session boxes remain on chart

Complete Feature Set:
Position Sizing Options:

Fixed Contracts - Simple fixed size
Risk % of Equity - Dynamic sizing based on account percentage
Fixed Dollar Risk - Consistent dollar risk per trade

Risk Management Framework:
Initial Setup:

ATR-based stop loss (adapts to volatility)
Configurable risk:reward ratios
Visual risk/reward zones

Advanced Exit Management:

Partial Take Profit

Close X% at first target (default 50% at 1R)
Let remainder run to full target


Break-Even Protection

Move stop to entry at profit threshold
Protects capital while maintaining upside


Trailing Stop Options

ATR-based (volatility adaptive)
Percentage-based (fixed % from price)



Session Management:

Trading Window: Configurable session times (NY timezone)
Session Boxes: Visual NY session ranges
No overnight risk: Pure intraday approach

Entry Filters:

Wick threshold (0-100% tolerance)
Body size requirements (min/max)
EMA trend filter (optional)
Session time filter

Professional Analytics Dashboard:
Real-Time Statistics:

Total trades executed
Win/loss breakdown
Win rate percentage
Net profit/loss
Profit factor
Average trade profit
Average R-multiple achieved
Maximum drawdown ($ and %)

Visual System:

🟢 Green triangles: Bullish signals
🔴 Red triangles: Bearish signals
Blue line: EMA trend filter
Gray boxes: NY session ranges
Colored zones: Risk/reward areas
Live R-multiple display
Position mode indicator

Alert System:

Signal detection alerts
Order fill notifications
Position closure alerts
Customizable messages

Strategy Use Cases:
Optimal Market Conditions:

Trending markets with clear momentum
High-volume sessions (NY open/close)
Markets showing clean price action
Post-news momentum moves

Recommended Applications:
Scalping (1-5 min charts):

Tight stops, quick targets
Focus on first hour volatility
Use partial profits aggressively

Day Trading (15-60 min charts):

Broader stops, larger targets
Full session trading
EMA filter recommended

Swing Trading (4H-Daily):

Wider parameters
Disable session filter
Use trailing stops

Key Advantages:

Trend Alignment - EMA filter ensures trading with momentum
Session Context - Visual boxes show key levels and ranges
Complete Risk Framework - Multiple exit strategies working together
Professional Analytics - Real-time performance tracking
Visual Clarity - See exactly where you stand at all times
Flexibility - Adapts to different markets and styles

Optimization Tips:
For Trending Markets:

Enable EMA filter
Use longer EMA periods (50-200)
Increase TP multiplier (2.5-3R)

For Range Markets:

Disable EMA filter
Focus on session extremes
Use partial profits at 0.5-1R

For Volatile Markets:

Increase ATR multiplier
Use trailing stops
Take partial profits early

What Makes This Version Superior:
The addition of the EMA confluence filter significantly improves win rate by ensuring trades align with the prevailing trend. The NY session boxes provide crucial context about market structure and key levels. Together, these features transform a good momentum strategy into a professional-grade trading system that adapts to market conditions while maintaining strict risk control.
This is a complete, institutional-quality strategy suitable for serious traders who want objective rules, professional risk management, and the flexibility to adapt to various market conditions and trading styles.

15 ago

Note di rilascio

Core Strategy Concept
The strategy identifies candlestick patterns with minimal or no wicks on one side, interpreting these as potential reversal signals. The logic is that candles closing near their extremes (with little to no wick) indicate strong directional momentum that may be exhausted, setting up for a reversal.
Entry Signals
Long Entry (Bullish Setup):

Triggers when a bullish candle (close > open) has a very small lower wick (≤0.6% of total candle range by default)
The candle body must be between 10-50 points
Places a limit buy order slightly below the candle's open price

Short Entry (Bearish Setup):

Triggers when a bearish candle (close < open) has a very small upper wick (≤0.6% of total candle range)
Same body size requirements (10-50 points)
Places a limit sell order slightly above the candle's close price

Risk Management

Stop Loss: Uses ATR-based stops (2x ATR by default from entry)
Take Profit: Set at 0.8x the stop loss distance (creating roughly 0.8:1 reward-to-risk ratio)
Order Management: Pending orders automatically cancel after 5 candles if not filled
Trading Hours: Restricted to 2:00 AM - 4:00 PM NY time

Key Features

Strict Validation: Only works on MNQ1! 15-minute charts
Body Size Filters: Ensures signals come from meaningful moves (not tiny candles or huge volatile bars)
Session Filter: Trades only during specified market hours
Visual Signals: Plots triangles on the chart for valid setups
Dynamic Risk: ATR-based stops adapt to market volatility

Trading Logic
The strategy appears to be betting on mean reversion after strong directional moves. When price moves decisively in one direction (creating a no-wick candle), it anticipates a pullback or reversal. The limit orders are placed expecting price to retrace slightly before continuing the reversal move.
This is a relatively conservative approach with its tight wick requirements and body size filters, designed to catch high-probability reversal setups while managing risk through ATR-based stops and automatic order cancellation.