It is basically the same as the "Reversal"
- but with fix settings
- no additional settings necessary
- Entry: immediately after arrow
- Stop loss: a few pips above the high of the arrow - candle / below the low of the arrow - candle
- Take Profit: at least the next candle / move to break even after candle closed / trail the SL
- works on: Major Forex-pairs / M15 and higher timeframes
Arrows appear after Reversal-Pattern and when the confirmation-candle reaches its value, it won't disappear (no repaint).
The Value to move => 20% of ATR20 from current timeframe;
- barsToProcess - the number of periods of the chart, that are involved, if you use a M15 chart, one day only - 200 should be enough
- Alert_On - to get the alert on your screen
- Send_Email - "Tools, Options, Email" has to be enabled
- Push_Notification - for alerts on your Smartphone - APP
- Trend_direction - even in a clear trend might appear a counter-trend arrow, if you like to get arrows and alerts in one direction only, set 1 for up going alerts only and 2 for down going arrows, 0 is default and shows both
- inverse_trend = false - the default direction goes with the trend,
- inverse_trend = true - arrows against the trend only, looking for real trend-changes
- plus_ATR_percent = 20 - this is the ATR value - the price that has to move until the arrow or alert follows
- sent_short_comment = "example" - change "example" in what you like, it will come with the alert as additional info
Nevertheless there is always a risk, the pattern is just a chance of a reverse, only a chance, please do not forget this, at least watch the upper timeframes, the last 10 arrows of replicability and calculate your risk carefully.