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Views:: 64665
Rating:: (61)
Published:: 2015.08.24 15:43
Updated:: 2016.11.22 07:32

flag_and_pennant.mq4 (37.53 KB) view

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This indicator shows Flag and Pennant patterns.

This pattern is seen as the market potentially just taking a “breather” after a big move before continuing its primary trend.

Trend detection uses linear regression, “breather” detection uses channel.

Display:

Blue lines — Flag;
Green lines — Pennant.

flag and pennant

Settings:

Flag and Pennant settings

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Flag and Pennant patterns - indicator for MetaTrader 4