# High-wave Candle High-wave Candle is an indicator on [Vela](https://vela.luxalgo.com/chart), our next-generation charting platform, written in Pine Script®. Marks sessions whose upper and lower shadows each reach at least twice the body and 0.6x the 20-bar average range, with a small body near the range center. Each detection extends its extremes forward as a bracket that resolves on a close beyond either side, with optional trend-context and volume filters and six alerts running from detection to resolution. - Indicator in the LuxAlgo Library, by LuxAlgo, published May 22, 2026. - Access: free. - Concepts: [High-wave Candle](https://www.luxalgo.com/library/concept/high-wave-candle/) (primary) - Open on Vela: https://vela.luxalgo.com/chart?pineScriptCodeId=cexhki4j7b8k2dndhairfef3 - Page: https://www.luxalgo.com/library/indicator/high-wave-candle/ **High-wave Candle** detects the market's loudest indecision bar (violent excursions both ways, a close back near the open) and turns each one into a tradable bracket, the library's first dedicated build of the [high-wave candle](https://www.luxalgo.com/library/concept/high-wave-candle/). Both shadows must be long against the body and against the recent average range, separating the shape from one-sided rejection candles and from milder indecision bars. Detections label in a neutral color, and the candle's extremes extend forward as dashed brackets until a close escapes one side. ## How to Trade the High-wave Candle? - **Label prints**: heavy two-sided trade with no winner, a statement about energy, not direction, with alerts on detection. - **Bracket resolves up**: a close above the candle's high decides the recorded fight to the upside; the broken side takes the directional color while the other dims. - **Bracket resolves down**: the mirrored close below the low, with its own alert. - **After an extended trend**: with a context filter active, only candles following a sustained run are marked, usually a prompt to tighten stops, not reverse. ## High-wave Candle Settings - **Average Range Length** (default 20): the recent-bar yardstick the shadows are measured against. - **Min Shadow / Body** (default 2) and **Min Shadow / Average Range** (default 0.6): both excursions must clear both hurdles. - **Max Body % of Range** (default 25) and **Min Body % of Range** (default 5): bodies below the floor are left to the long-legged doji. - **Body Center Tolerance %** (default 20): keeps the body near mid-range, rejecting one-sided shapes. - **Context Filter** (default Any) with **Trend Basis Length** (default 50) and **Min Trend Bars** (default 10): restrict detections to post-trend locations. - **Require High Volume** (default disabled) with **High Volume Multiplier** (default 1.5) and **Volume Average Length** (default 20). - **Show Range Bracket** (default enabled) and **Show Last Brackets** (default 8), plus label, highlight and trend-basis toggles. ## Frequently Asked Questions ### How does it differ from a Spinning Top? A [Spinning Top](https://www.luxalgo.com/library/indicator/spinning-top/) marks restrained two-sided trade behind modest shadows. Here each shadow must also clear a set share of the recent average range, so only genuinely expanded sessions qualify. ### Why is the pattern drawn in a neutral color? The candle records a stalemate. Direction is assigned only when a close escapes the bracket. That is when the color changes and the resolution alerts fire. ### What does the volume filter add? Evidence that large opposing flows actually met rather than thin-liquidity noise. High-volume detections carry their own alert, and the label tooltip reports the multiple either way. ## Related indicators - [On-neck / In-neck / Thrusting](https://www.luxalgo.com/library/indicator/on-neck-in-neck-thrusting/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/on-neck-in-neck-thrusting.md - [Rising/falling Three Methods](https://www.luxalgo.com/library/indicator/rising-falling-three-methods/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/rising-falling-three-methods.md - [Swing Highs/Lows & Candle Patterns](https://www.luxalgo.com/library/indicator/swing-highs-lows-candle-patterns/) (Hammer): markdown at https://www.luxalgo.com/library/indicator/swing-highs-lows-candle-patterns.md - [Reversal Candlestick Structure](https://www.luxalgo.com/library/indicator/reversal-candlestick-structure/) (Hammer): markdown at https://www.luxalgo.com/library/indicator/reversal-candlestick-structure.md - [Candlestick Structure](https://www.luxalgo.com/library/indicator/candlestick-structure/) (Doji): markdown at https://www.luxalgo.com/library/indicator/candlestick-structure.md - [Evening Star](https://www.luxalgo.com/library/indicator/evening-star/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/evening-star.md - [Hanging Man](https://www.luxalgo.com/library/indicator/hanging-man/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/hanging-man.md - [Candlestick Channels](https://www.luxalgo.com/library/indicator/candlestick-channels/) (Hammer): markdown at https://www.luxalgo.com/library/indicator/candlestick-channels.md --- Source: https://www.luxalgo.com/library/indicator/high-wave-candle/ (LuxAlgo Library). Free to use with attribution: https://www.luxalgo.com/library/license/