Mupf Wick - Extended Valid Lines

This indicator identifies and tracks wick-based price entry strategies on higher timeframes. It is designed for traders who utilize wick-driven logic for identifying significant price levels.

How to Use

Select Timeframe:
Set the higher timeframe for wick detection in the settings (default is 4-hour).

Customize Tolerance and Visuals:
Adjust the wick tolerance percentage and enable/disable visualization options based on your trading strategy.

Analyze Lines:
Green lines indicate validated bullish wicks (support).
Red lines indicate validated bearish wicks (resistance).
Blue or purple lines show invalidated levels due to double wicks or body overlaps.

Use as Confluence:
Combine this indicator with your broader strategy to identify high-probability zones for entries or exits.

Previous wicks:


Double wicks:


Double body's:



Features
Wick Detection Across Different Timeframes
Tracks wicks on a user-defined higher timeframe (default: 4-hour) to highlight potential support and resistance levels.

Dynamic Valid Line Classification

Valid Lines: Lines validated when the price crosses the body of subsequent candles.
Invalid Lines: Lines invalidated by overlapping wick conditions.
Double Wick/Body Detection: Highlights invalid lines due to double wicks or body overlaps.

Customizable Visualization
Configurable line width and colors for valid, invalid, and other conditions.
Optional visibility for expired wicks, double wicks, and invalid body overlaps.
Tolerance-Based Wick Filtering
Includes a user-adjustable tolerance percentage to define how closely a wick must align with price to trigger validation or invalidation.

Known Issues
Timeframe Dependency:
The indicator only works correctly on the specified candle timeframe (default: 4-hour). Using it on other timeframes without adjustment may cause errors or misaligned lines.

Memory Limitations:
Due to Pine Script's memory constraints, some previous wicks or invalid wicks may be missed if too many lines / options are tracked simultaneously.

Missing Alerts for Entry Triggers:
The indicator currently lacks built-in alerts for entry triggers based on line validation/invalidation events. This must be monitored manually.



Future Enhancements
Support for multi-timeframe compatibility.
Improved memory handling to track more historical wicks.
Addition of alert functionality for real-time trade signals.
This tool is ideal for traders focusing on price action and wick-based strategies, providing visual clarity on important market levels.