Using Wick Slicer IQ As An Indictor

While Wick Slicer IQ is a full-fledged trading system with entries and exits - traders can still use it as an indicator for discretionary trading!

The hallmark feature of Wick Slicer IQ, similar to Reversal IQ, is its incredible entry signals. While all exits for the trading system portion of the indicator take place at the close price, Wick Slicer IQ simply has a knack for “sniping” entries!

Take a look at this recent winning BTCUSDT.P trade!

Wick Slicer IQ signaled a long entry at $55,620.

On the same candle as the long entry and for all subsequent candles, price moved 0.1% against the position at worst and, on subsequent candles after the trade was exited, 5.16% in favor of the position! Those using Wick Slicer IQ as an indicator could have certainly made use of this! Wick Slicer as a trading system exited the long position as the close of the bar; however, price continued to trend significantly in favor of the long position.

When performing live analysis, you can use the Slicer Range to evaluate intrabar price reversal areas - whether price has extended too far in one direction for one candletstick.

The deeper price moves into the bullish reversal area (green) the better chance that price has extended too far and will reverse to the upside soon. The deeper price moves into the bearish reversal area (red) the better chance that price has extended too far and will reverse to the downside soon.

Of course, in times of exuberance or panic, price may push through the reversal levels. While rare, it can happen to any indicator.

With this information, you can simply flip from chart to chart and from timeframe to timeframe to quickly assess optimized areas of interest.

The image above shows the overarching supply/demand zones calculated by Wick Slicer IQ. Traders can discretionarily reference these level to asses whether price is trading in an area where increased buying/selling are expected for the predominant trend. Traders might also decide to only trade violations of the downside deviation point when prices are trading near the overarching demand zone, or trade only violations of the upside deviation point when prices are trading near the overarching supply zone.

Summary

With these visualizations, traders can actively use Wick Slicer IQ as a trading indicator to assist their trading analysis.