Bill Williams SquatGreenFadeFake pattern finderPRO
This indicator will signal when a squat, green, fade or fake appears.
- MFIsensitivity - controls sensitivity of detecting a change in MFI. For example, 1.1 means 10 % change in MFI needed to signal. 1.5 means 50% change needed.
- VolumeSensitivity - controls sensitivity of detecting a change in Volume. For example, 1.1 means 10 % change in Volume needed to signal. 1.5 means 50% change needed.
If set to true the indicators appear on the charts, if false they do not appear:
Sets the color of each indicator on the charts:
If set to true each indicator will send an alert when it appears, if false no alert:
The indicator will work on any time period.
What do the signals mean:
Each signal is a combination of a change in MFI and a change in Volume.
The MFI is the market facilitation index. It is a measure of change in tic price over volume.
- Green (+ tick volume, + MFI): a green indicates a green light for market movement. It is a breakout signal and you should go with whatever direction the trend is (more players entering the market, arriving players biased in direction of trend, price movement picking up pace)
- Fade (- tick volume, - MFI): a fade occurs when the market is taking a breath or losing interest. A fade is the opposite of a green,
- Squat (+ tick volume, - MFI): a squat is the strongest potential money maker of the four indicators, virtually all moves ends in a squat, however not all squats mean and end so they are a fantastic tool to use for confirmation of the end of a trend. Squats is the last battle of buyers and sellers it means lots of buying and selling but little price movement. The breakout after a squat can be profitably traded.
- Fake (- tick volume, + MFI): a fake means price movement but for some reason a drop in volume so you should beware in a fake. Market manipulation is a threat during a fake. Often a fake indicates a pause in market activity before a take off and breakout.
The highlighted text is whats in pro version.
please buy the pro version and support me for only 10USD. Thank you.
If there is anything you feel could be added to this indicator please email email@example.com. I am prepared to add anything requested to improve.