Advanced Chart Pattern Tracker Indicator for MT4
NO REPAINT ADVANCED CHART PATTERN INDICATOR
By definition, a price ( chart) pattern is a recognizable configuration of price movement that is identified using a series of trendlines and/or curves.
When a price pattern signals a change in trend direction, it is known as a reversal pattern; a continuation pattern occurs when the trend continues in its existing direction following a brief pause.
Advanced Chart Pattern Tracker is designed to find the MOST ACCURATE patterns. A special script is added to eliminate the LOW ACCURACY patterns.
Apart from patterns such as Flag, Wedge, and Triangle, it is designed to find Harmonic Patterns breakdowns with more advanced Elliott Wave calculations.
List of the classical chart patterns :
HEAD AND SHOULDERS
FLAG PATTERNS / PENNATS
Advanced Harmonic Waves Patterns:
5TH CYCLE PATTERN
BLACK SWAN RUN PATTERN
CYCLE REVERSAL PATTERN
ZZ Inputs Recommended Depth Deviation Backstep: 12 5 3 and 21 16 8
Note: For the patterns with smaller targets and stop-loss 5 5 3 and 7 5 3 are recommended
Color of Pattern Lines: Color of the ZZ Legs
Color of Trend Lines: Color the trendlines of the pattern to watch the potential breakouts.
Color of Entry, Targets and Stop Loss can be changed. Depending on the pattern’s structure more than one target can be seen. ( TP1 TP2 and/or TP3)
Structural Stop Loss is mentioned by SL Line. ( You can set different colors for SL )
Dots on the chart refer to the pattern which is potentially forming. The level of those dots can be changed or they can disappear.
By moving the cursor on the dot, you will be able to read the type of pattern which is being formed.
Arrows appear as soon as the price breaks and close above/below the pattern’s line.
When you see the arrow, it means that pattern is active.
Alert will come when a pattern is being formed and when it becomes activated.
The indicator is very user-friendly.
Works on every time and every instrument.
Very High Accuracy
Apply the indicator onto the chart and select the type of chart patterns you wish to track.
Full Alert options including mobile alerts.
Structural targets and stop-loss levels are drawn on the chart for the pattens.
After checking the risk/reward ratio, you can trade easily and with high accuracy.
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