Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
About:
Looks for price making a trend flip pattern.
Importance of this pattern is that after it happens, price tends to range a bit and then breakout right after.
Features:
- Looks for trend flip pattern
- Num of bars creating pattern
- Extend lines to right to wait for breakout
- Bull/Bear Strength for candles making the pattern
- Filter using Halftrend/NRTR
How it Works:
Use this technique for scalping. After a pattern happens, you will see a red/green rectangle.
Red means a Bearish pattern and green means a bullish pattern. Then wait for a strong high volume bar to break out of the grey lines.
You can extend the lines however much you like, because after breakout, these important levels can also act as strong support/resistance lines.
Look at this detailed blog post for examples and extra downloads:
