OPEN-SOURCE SCRIPT
Shadow Detector

//version=5
indicator("Shadow Detector", overlay=true)
// === Inputs ===
// ---- Upper Wick Controls ----
enableMinUpperWick = input.bool(true, "", group="Long Upper Wick Settings",inline = 'A')
minUpperWickPerc = input.float(0.4, "Min Upper Wick %", step=0.01, group="Long Upper Wick Settings",inline = 'A')
enableMaxLowerWick = input.bool(true, "", group="Long Upper Wick Settings",inline = 'B')
maxLowerWickPerc = input.float(0.5, "Max Lower Wick %", step=0.01, group="Long Upper Wick Settings",inline = 'B')
enableMaxBodyUpper = input.bool(true, " ", group="Long Upper Wick Settings",inline = 'C')
maxBodyPercUpper = input.float(100.0, "Max Body % (Upper Wick)", step=0.01, group="Long Upper Wick Settings",inline = 'C')
// ---- Lower Wick Controls ----
enableMinLowerWick = input.bool(true, "", group="Long Lower Wick Settings",inline = 'd')
minLowerWickPerc = input.float(0.4, "Min Lower Wick %", step=0.01, group="Long Lower Wick Settings",inline = 'd')
enableMaxUpperWick = input.bool(true, "", group="Long Lower Wick Settings",inline = 'e')
maxUpperWickPerc = input.float(0.5, "Max Upper Wick %", step=0.01, group="Long Lower Wick Settings",inline = 'e')
enableMaxBodyLower = input.bool(true, "", group="Long Lower Wick Settings",inline = 'f')
maxBodyPercLower = input.float(100.0, "Max Body % (Lower Wick)", step=0.01, group="Long Lower Wick Settings",inline = 'f')
// === Calculations ===
bodySize = math.abs(close - open)
upperWick = high - math.max(open, close)
lowerWick = math.min(open, close) - low
// Reference price
refPrice = close // you can change to (high+low)/2 or open if preferred
// Thresholds for Upper Wick Condition
minUpperWickPoints = refPrice * (minUpperWickPerc / 100)
maxLowerWickPoints = refPrice * (maxLowerWickPerc / 100)
maxBodyPointsUpper = refPrice * (maxBodyPercUpper / 100)
// Thresholds for Lower Wick Condition
minLowerWickPoints = refPrice * (minLowerWickPerc / 100)
maxUpperWickPoints = refPrice * (maxUpperWickPerc / 100)
maxBodyPointsLower = refPrice * (maxBodyPercLower / 100)
// === Conditions with Enable/Disable Logic ===
// Long Upper Shadow conditions (only check enabled conditions)
upperCondition1 = enableMaxBodyUpper ? bodySize <= maxBodyPointsUpper : true
upperCondition2 = enableMinUpperWick ? upperWick >= minUpperWickPoints : true
upperCondition3 = enableMaxLowerWick ? lowerWick <= maxLowerWickPoints : true
longUpper = upperCondition1 and upperCondition2 and upperCondition3
// Long Lower Shadow conditions (only check enabled conditions)
lowerCondition1 = enableMaxBodyLower ? bodySize <= maxBodyPointsLower : true
lowerCondition2 = enableMinLowerWick ? lowerWick >= minLowerWickPoints : true
lowerCondition3 = enableMaxUpperWick ? upperWick <= maxUpperWickPoints : true
longLower = lowerCondition1 and lowerCondition2 and lowerCondition3
// === Plot Shapes ===
plotshape(longUpper, title="Long Upper Shadow", style=shape.triangledown, color=color.red, size=size.small, location=location.abovebar)
plotshape(longLower, title="Long Lower Shadow", style=shape.triangleup, color=color.green, size=size.small, location=location.belowbar)
// === Alerts ===
alertcondition(longUpper, title="Long Upper Shadow", message="Upper shadow conditions met")
alertcondition(longLower, title="Long Lower Shadow", message="Lower shadow conditions met")
indicator("Shadow Detector", overlay=true)
// === Inputs ===
// ---- Upper Wick Controls ----
enableMinUpperWick = input.bool(true, "", group="Long Upper Wick Settings",inline = 'A')
minUpperWickPerc = input.float(0.4, "Min Upper Wick %", step=0.01, group="Long Upper Wick Settings",inline = 'A')
enableMaxLowerWick = input.bool(true, "", group="Long Upper Wick Settings",inline = 'B')
maxLowerWickPerc = input.float(0.5, "Max Lower Wick %", step=0.01, group="Long Upper Wick Settings",inline = 'B')
enableMaxBodyUpper = input.bool(true, " ", group="Long Upper Wick Settings",inline = 'C')
maxBodyPercUpper = input.float(100.0, "Max Body % (Upper Wick)", step=0.01, group="Long Upper Wick Settings",inline = 'C')
// ---- Lower Wick Controls ----
enableMinLowerWick = input.bool(true, "", group="Long Lower Wick Settings",inline = 'd')
minLowerWickPerc = input.float(0.4, "Min Lower Wick %", step=0.01, group="Long Lower Wick Settings",inline = 'd')
enableMaxUpperWick = input.bool(true, "", group="Long Lower Wick Settings",inline = 'e')
maxUpperWickPerc = input.float(0.5, "Max Upper Wick %", step=0.01, group="Long Lower Wick Settings",inline = 'e')
enableMaxBodyLower = input.bool(true, "", group="Long Lower Wick Settings",inline = 'f')
maxBodyPercLower = input.float(100.0, "Max Body % (Lower Wick)", step=0.01, group="Long Lower Wick Settings",inline = 'f')
// === Calculations ===
bodySize = math.abs(close - open)
upperWick = high - math.max(open, close)
lowerWick = math.min(open, close) - low
// Reference price
refPrice = close // you can change to (high+low)/2 or open if preferred
// Thresholds for Upper Wick Condition
minUpperWickPoints = refPrice * (minUpperWickPerc / 100)
maxLowerWickPoints = refPrice * (maxLowerWickPerc / 100)
maxBodyPointsUpper = refPrice * (maxBodyPercUpper / 100)
// Thresholds for Lower Wick Condition
minLowerWickPoints = refPrice * (minLowerWickPerc / 100)
maxUpperWickPoints = refPrice * (maxUpperWickPerc / 100)
maxBodyPointsLower = refPrice * (maxBodyPercLower / 100)
// === Conditions with Enable/Disable Logic ===
// Long Upper Shadow conditions (only check enabled conditions)
upperCondition1 = enableMaxBodyUpper ? bodySize <= maxBodyPointsUpper : true
upperCondition2 = enableMinUpperWick ? upperWick >= minUpperWickPoints : true
upperCondition3 = enableMaxLowerWick ? lowerWick <= maxLowerWickPoints : true
longUpper = upperCondition1 and upperCondition2 and upperCondition3
// Long Lower Shadow conditions (only check enabled conditions)
lowerCondition1 = enableMaxBodyLower ? bodySize <= maxBodyPointsLower : true
lowerCondition2 = enableMinLowerWick ? lowerWick >= minLowerWickPoints : true
lowerCondition3 = enableMaxUpperWick ? upperWick <= maxUpperWickPoints : true
longLower = lowerCondition1 and lowerCondition2 and lowerCondition3
// === Plot Shapes ===
plotshape(longUpper, title="Long Upper Shadow", style=shape.triangledown, color=color.red, size=size.small, location=location.abovebar)
plotshape(longLower, title="Long Lower Shadow", style=shape.triangleup, color=color.green, size=size.small, location=location.belowbar)
// === Alerts ===
alertcondition(longUpper, title="Long Upper Shadow", message="Upper shadow conditions met")
alertcondition(longLower, title="Long Lower Shadow", message="Lower shadow conditions met")
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.