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Triangles pattern

99 USD

Demo downloaded: 585

Published: 7 July 2016

Current version: 1.2

Triangles pattern

Indicators
Siarhei Baranouski
Version: 1.2
Updated: 22 November 2018
Activations: 5

The indicator is designed for finding the "ascending" and "descending" triangle patterns on the chart, followed by the breakout of the triangle base. The indicator also determines the take profit and stop loss levels, in order to know when to exit the position. In my opinion, when using the "Confimed Break" mode, after a signal appears it is best to wait for a small rollback to the base of the triangle and open the position. But when using the "Live Break" or "Live Break with ReEntry" mode, it is better to enter the market as soon as a signal appears.

Live Break - a signal appears without waiting for breakout confirmation.

Live Break with ReEntry - if the signal was received before the confirmation of a triangle breakout and the price came back, i.e. breakout was not confirmed, then the indicator will notify about the next breakout.

Once 50% of the target is reached, the stop loss should be moved to breakeven.

Settings

Break_Mode=Confimed Break; - triangle breakout mode
Triangle_Min_3rd_Point=33; - The minimum height of the second top/bottom
Min_Percent_of_Break=5.0; - Minimum breakout as a percentage of the triangle height
Max_Percent_of_Break=30; - Maximum breakout percentage
Max_Percent_of_Break_by_Wick=50; - Maximum percentage of a breakout by candle wick
Max_Wick_Percent_of_Body=150; - Maximum size of a long wick of the candle relative to the body in percents
AlertON=true; - On-screen notification about signal appearance
SoundON=true; - Sound notification about signal appearance
EmailON=true; - Email notification about signal appearance

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Aravind Kolanupaka 2017.06.01 02:43 #

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Version 1.2 2018.11.22

Fixed littl bug

Version 1.1 2016.10.03

1. Slightly modified and improved the algorithm for finding the "Triangle" pattern
2. Added the ability to send alerts about the triangle breakouts, without waiting for signal confirmation (Live Break)
3. Added the option (Live Break with ReEntry), if the signal was received before the confirmation of a triangle breakout and the price came back, i.e. breakout was not confirmed, then the indicator will notify about the next breakout of this triangle
4. Added the option to send notifications on signal by email