Overview

Wick Rejection Scanner Dashboard is a professional MT5 indicator that continuously scans multiple symbols and timeframes for wick-based rejection candles (upper or lower rejection) and presents the most relevant results in a clear, readable on-chart dashboard.

It is built for traders who use price action / rejection candles as a trigger, but want a faster way to monitor a watchlist without manually opening and checking dozens of charts. The tool acts like a “radar”: it finds recent rejection candles and ranks them using a strength score and context filter, helping you focus only on the most meaningful setups.

This is a scanner + visualizer. It does not place trades.

What the Indicator Detects

A signal is produced when a candle meets configurable rejection rules, including:

  • Dominant wick (upper or lower) as a percentage of the full candle range

  • Minimum candle range filter to avoid tiny/noisy candles

  • Minimum body size to avoid meaningless “needle” bars

  • Opposite wick cap to avoid “indecision” candles with large wicks on both sides

  • Optional ATR filter so signals occur only during sufficient volatility

  • Optional Trend Context score to penalize signals occurring in weak locations inside the recent range

The result is a set of rejection signals that is designed to be realistic, not overly sensitive.

Key Features

  • Multi-Symbol Scanner

    • Scan symbols from Market Watch or from a custom comma-separated list

    • Limit the number of scanned symbols for performance control

  • Multi-Timeframe Support

    • Scan the current chart timeframe or a fixed timeframe

    • Optional additional scans for M15 and H4

  • Professional Dashboard UI

    • Clean dark theme dashboard with consistent spacing and alignment

    • Displays: Symbol, Timeframe, Signal Type, Wick %, Strength, Age

    • Sorting modes: Most Recent / Highest Wick% / Highest Strength

    • Shows a compact signal age (bars ago or time for very recent signals)

  • Click-to-Switch Chart

    • Click a dashboard row to instantly switch the chart to that symbol + timeframe

  • On-Chart Markers (Optional)

    • Draw arrows on the chart for detected signals

    • Optional wick percentage labels

    • Maximum marker count for performance and readability

  • Alerts (Optional)

    • Popup / Push / Email alerts

    • Cooldown control to avoid repeated alerts for the same symbol/timeframe

Typical Use Cases

  • Watchlist scanning for rejection candles at important levels

  • Quick filtering before manual confirmation (S/R, trend structure, session timing, liquidity sweeps)

  • A dedicated “setup radar” on a secondary monitor

Notes and Best Practice

  • A wick rejection candle is a trigger, not a complete strategy.

  • For higher quality trade decisions, combine signals with:

    • Support/Resistance zones

    • Trend structure (HH/HL or LH/LL)

    • Higher timeframe bias

    • Session timing / volatility conditions

Inputs (What You Can Configure)

Detection Settings

  • Wick threshold (% of candle range)

  • Minimum candle range (points)

  • Minimum body percentage

  • Maximum opposite wick percentage

  • ATR-based validation (period + multiplier)

  • Trend context scoring (lookback + threshold)

Scanner Settings

  • Market Watch symbols or custom symbol list

  • Scan timeframe selection (or current chart timeframe)

  • Optional extra timeframes (M15 / H4)

  • Bars to check + refresh interval

  • Optional limit for maximum displayed signals

UI & Alerts

  • Dashboard position, offsets, row height, font size

  • Marker visibility, label visibility, max markers

  • Alert channels and cooldown

Summary

If you trade wick rejections and want a faster workflow, Wick Rejection Scanner Dashboard helps you:

  1. scan more charts in less time,

  2. reduce noise using practical filters, and

  3. focus on the best candidates via strength scoring and sorting.