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I would like to develop a indicator to help identify M orW patterns
W - Price come from above 13 EMA to below it and close to create a 1st leg
Price then rally up and close above it to make the Apex
Price then drop below 13 EMA
All must be closes above and below 13 EMA
And maybe we need a minimum. no of pips per leg
Then rally and close above it and give us an alert that the W pattern is complete on the m15 time frame
The inverse for a M pattern
I think it would need a few filters
pattern usually happens after ASIAN session and between london and NY session
and normally forms at Low of day W or high of day M
or Previous days low or high the 50 EMA or the 200 EMA Sometimes it can also form at the Average daily range projected high or low also
I guess i could monitor these things manually
Not all legs are always equal either ....
I could also set the indicator manually if needed as per if to look for W or M etc
We can discuss
The aim is to help keep me away from the chart a little bit I am trading Market makers method
I already have a template i use for my trading for mt5 which i have made which also shows the Highs and lows of day etc if that is helpful ? Maybe it can be added to the template...
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