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Pattern 5W Scan MT5

Introduction

The Elliott Wave in technical analysis describes price movements in the financial market that are related to changes in trader sentiment and psychology.

The 5 W Pattern (Known as 3 Drives) is an Elliott Wave pattern that is formed by 5 consecutive symmetrical moves up or down. In its bullish form, the market is making 5 drives to a bottom before an uptrend forms. In a bearish 5-drive, it is peaking before the bears take over. 

5W Pattern Scanner Indicator

It is usually difficult for a trader to recognize 5W or Three drives patterns on a chart, as well as searching for dozens of charts and time frames will take time, and there is also a possibility of a trader's mistake in calculations. This indicator can automatically search all charts and time frames to find possible patterns in in one chart.

Searching, Fibonacci calculations and pattern recognition are completely the responsibility of the indicator; All you have to do is "press the scan button".


How To Trade?

All parameters necessary to enter the trade are calculated, such as entry point, stop-loss, and take-profit.
By observing the signal and deciding to trade, we enter the trade with the "set and forget" method.


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5 (8)
Royal Scalping Indicator is an advanced price adaptive indicator designed to generate high-quality trading signals. Built-in multi-timeframe and multi-currency capabilities make it even more powerful to have configurations based on different symbols and timeframes. This indicator is perfect for scalp trades as well as swing trades. Royal Scalping is not just an indicator, but a trading strategy itself. Features Price Adaptive Trend Detector Algorithm Multi-Timeframe and Multi-Currency Trend Low
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