RejectionZones MTF: Put Daily, Weekly and Monthly Wicks on Your Trading Map

A wick gives you a location to revisit

A higher-timeframe candle can leave an obvious wick, then disappear from your attention as you move down to an execution chart. You remember that price rejected somewhere above or below, but the exact area becomes another box to redraw.

RejectionZones MTF gives that part of your preparation a consistent definition. The free PonoTrading indicator lets you select Daily, Weekly or Monthly as the source timeframe and maps the outer half of the candle's upper and lower wicks.

That creates a defined area you can use when studying a return to a previous extreme. The useful question becomes: what is price doing when it gets back here?

How the zone is drawn

Start with the upper wick. If a candle's high is 110 and the top of its body is 106, the wick runs from 106 to 110. Its midpoint is 108. The indicator's upper rejection zone covers 108 to 110.

The lower wick follows the same logic. With a low of 90 and the bottom of the body at 94, the lower wick spans 90 to 94. Its outer half runs from 90 to 92.

These are simple hypothetical prices to explain the geometry, not a trade example or a claim about a particular market. The definition matters because it gives you a repeatable reference. You can identify the same part of a wick instead of changing the width of a manually drawn zone to fit what happened next.

Choose the source timeframe with a purpose

A daily wick and a monthly wick describe different stretches of price action. Choose the source that fits the question you are asking rather than treating every highlighted area as equally important.

For example, you might begin your preparation with the weekly chart to understand where price previously extended and pulled back. You can then examine the daily context and your execution chart to see how the current move is approaching that area.

Keep the process readable. A chart covered in overlapping explanations makes it harder to decide what would actually change your view. Pick the source timeframe you want to study and write down why its zone matters before price reaches it.

Plan for more than one reaction

A return to a wick zone can lead to another rejection. Price can also travel through it, spend time around it, or break through and revisit it from the other side.

Before the touch, consider the scenarios you will watch:

• Does price slow down or reject within the area?
• Does it move through the zone without the response you expected?
• After a break, does a return show a different reaction?
• Does the area overlap with another level already in your plan?

Those questions help separate a useful chart reference from an impulsive entry. A touch alone does not complete a setup. Your entry criteria, invalidation and risk decisions still need their own rules.

What a historical wick cannot tell you

The wick records where the candle traded beyond its body. It does not prove that resting orders remain at those prices, identify who traded there, or establish a numerical probability for the next reaction.

That distinction is especially important when reviewing a chart after the move. An impressive historical reaction can make a level look inevitable. Record the zone and your expectations before the next interaction if you want a more honest review of how you used it.

RejectionZones MTF is available publicly for free on TradingView as a protected-source script. Add it to a chart, select Daily, Weekly or Monthly, and use it to make the location part of your preparation more consistent.

Open RejectionZones MTF on TradingView

Educational information only. The indicator does not guarantee a reaction or trading outcome.

Explore the PonoTrading TradingView indicator library for related chart tools.