SX Price Action Patterns MT4
- Indicators
- Version: 1.0
SX Price Action Patterns is a comprehensive indicator which shows various price action patterns on the chart for those who are interested in price action trading. These patterns are as follows:
A Pin Bar is a candlestick price bar, which has a long wick on one side and a small body. It is a powerful signal of price reversal in a currency trading strategy.
An Inside Bar is characterized by a bar or candle that is entirely ‘inside’ the range of the preceding one and represents the consolidation of price action.
An Outside Bar completely ‘overshadows’ or ‘engulfs’ the previous bar. This pattern signals a potential shift in the market sentiment.
A Shaved Bar is a trend bar that is all body and has no tails or has a shaved top (no upper tail) or a shaved bottom (no lower tail). When a Shaved Bar appears in a strong trend, it demonstrates that the buying or the selling pressure was constant throughout with no let-up and it can be taken as a strong signal that the trend will continue.
A Fakey pattern appears when the price breaks one away from an inside bar but then returns to the opposite direction, triggering the price movement in that direction. Fakey is very important and potent price action trading strategy because it can help us identify stop-hunting and provide us with a very good clue as to what price might do next.
A Three Bar Reversal pattern is used to identify trend reversal signals. The pattern involves 3 consecutive candlesticks, whose movement indicates whether a reversal in the trend is bound to happen or not.
A Pin Bar + Inside Bar Combo pattern consists of a Pin Bar that consumes an Inside Bar. It is an ideal setup to trade from pullbacks to key levels or as breakout plays in trending markets.
An Inside-Pin Bar Combo pattern is simply a Pin Bar that’s also an Inside Bar. This setup seems to work best in trending markets and on the daily chart time frames.
There are various settings for each of these patterns and you can specify the pattern you want with a shape or by changing the color of the candlestick on the chart.
There is also a unique option to gray out the chart temporarily so that you can clearly see the desired pattern.
#Tags: Pin Bar, PinBar, Pin-Bar, Inside Bar, InsideBar, Inside-Bar, Outside Bar, OutsideBar, Outside-Bar, Shaved Bar, ShavedBar, Shaved-Bar, Fakey, Three Bar Reversal, 3 Bar Reversal, Pin Bar + Inside Bar Combo, Inside-Pin Bar Combo, Pattern, Price Action, PriceAction
DISCLAIMER: Please notice that we do not provide any financial advice. We only provide tools for anyone interested in improving their trading.
