RC Soldiers and Crows MT5 Limited
- Indicators
- Francisco Rayol
- Version: 1.0
This indicator accurately identifies and informs market reversals and continuation patterns by analyzing and signaling the Three White Soldiers / Three Black Crows pattern.
- User-friendly interface and multi-asset compatibility
- Fully customizable parameters and colors
- Does not repaint
- Can be easily convert its signals into an Expert Advisor. Full support granted.
FOR MT5 FULL VERSION: CLICK HERE
What is the Three White Soldiers / Three Black Crows price action pattern
The Three White Soldiers pattern consists of three consecutive bullish candlesticks with increasing closing prices, signaling a strong upward momentum and potential continuation of the uptrend. On the other hand, the Three Black Crows pattern comprises three consecutive bearish candlesticks with decreasing closing prices, indicating a strong downward momentum and potential continuation of the downtrend. Mastering the Three White Soldiers and Three Black Crows price action patterns can significantly enhance your trading performance. These patterns, recognized for their reliability in signaling trend reversals, offer valuable insights into market sentiment and potential price movements.
By understanding and effectively utilizing these patterns, traders can identify opportune entry and exit points, thereby maximizing profits and minimizing risks. Additionally, these patterns can serve as confirmation signals when used in conjunction with other technical indicators, further bolstering trading decisions. Incorporating the Three White Soldiers and Three Black Crows patterns into your trading strategy provides a systematic approach to navigating dynamic market conditions. Whether you're a novice trader or an experienced investor, leveraging these patterns can provide a competitive edge and foster consistent profitability in your trading endeavors.
How to trade using this indicator
Although the indicator can be used as a trading system in itself, it can also be used in conjunction with some trading systems shown below:
#1 As a confirmation trend in a Moving Average crossing setup
Setup: One fast exponential moving average with 50 periods, one slow exponential moving average with 200 periods, timeframe M5, any volatile asset like XAUUSD for example.
Wait for a crossover between the two averages above. After that, open a position only when the indicator gives a signal after this crossover and in the direction of the trend signaled by the crossing of the faster average in relation to the slower one. (click here for more details)
#2 As a confirmation signal on a Breakout system
Setup: Find the current main trend, draw a consolidation channel and look for breakouts in the direction of it. When the indicator gives a signal outside the channel confirming the breakout open a correspondent position. (click here for more details)
Additions you find on the full version of this indicator:
- Setup defintion: Show statistic panel
- Visual aspects: Take profit line color; Stop loss line color; Color for active current signal; Color for past signals
- Trade regions definition: Show regions of stop loss; Set the stop loss model (1 - on pivot levels, 2 - fixed points, 3 - candle of sequence); Show regions of take profit, Set the take profit model (1 - fixed points, 2 - x times multiplied by the stop loss)
- Maximum values definition: Set a maximum value for stop loss in points (true or false); Maximum stop loss points; Set a maximum value for take profit in points (true or false); Maximum take profit points
- Indicator filter: Choose which indicator to use as a filter (1 - No indicator filter, 2 - Moving average filter, 3 - Bollinger bands filter, 4 - ADX filter, 5 - RSI filter)
- Hour filter: Use hour filter (true or false); Show hour filter lines (true or false); Time to start hour filter (Format HH:MM); Time to finish hour filter (Format HH:MM)
- Alert definition: Sound alert every new signal (true or false); Alert pop-up every new signal (true or false); Send notification every new signal (true or false)
Disclaimer
By purchasing and using this indicator, users agree to indemnify and hold harmless its author from any and all claims, damages, losses, or liabilities arising from the use of the indicator. Trading and investing carry inherent risks, and users should carefully consider their financial situation and risk tolerance before using this indicator.
