The indicator searches Price Action patterns on a chart. It shows market entry points, stop loss and take profit.
List of Candlestick Patterns Detected:
- Railroad tracks and their variations (2 candles, 3 candles, 4 candles) both the Big and Small candles are identified. Total of 6 varieties (2candle, 2candlebig, 3candle, 3candlebig, 4candle, 4candlebig).
The targets for takeprofit(green), stoploss(red) and openorder(yellow) – market entry are set according to the patterns. The reverse targets for takeprofit(“lime”), stoploss(purple) and openorder(yellow) are also implemented.
Description of the parameters:
- period of calculation of the average candle - period of calculation of the average candle
- Fibonacci goal # 1 - Fibonacci target №1
- Fibonacci goal # 2 - Fibonacci target №2
- Fibonacci goal # 3 - Fibonacci target №3
- average candle size in percents - average candle size in percents
- maximum of the candle shadow in percents - maximum size of the candle shadow in percents
- maximum range of candles in percents - maximum range of candles in percents
- the size of the big candle in percents - the size of the big candle in percents
- the maximum size of the candle adjacent to the big candle in % - the maximum size of the candle adjacent to the big candle in percents
- the minimum size of the candle adjacent to the big candle in % - the minimum size of the candle adjacent to the big candle in percents
- shift stoploss in percents - stop loss shift in percents
- use settings from file Files\kvind.txt or internal settings - use the parameter settings (candleSize, candleShadowSize, candleShiftSize, candlemaxxSize, candlemaxxp, candleminxp) from the Files\kvind.txt file or the internal settings. The parameters are configured for the symbols (EURUSD; GBPUSD; USDJPY; USDCAD; EURAUD; EURJPY; GOLD; NZDUSD). To use the custom settings, the useoptparam MUST BE SET TO FALSE (useoptparam=false)
- show the name of sign patterns - display the names of the patterns
- clearing patterns when overlapping each other - clear the patterns if they overlap
- show order reverse - display reverse orders
- show pattern 2candle - display the 2candle pattern
- show pattern 2candlebig - display the 2candlebig pattern
- show pattern 3candle - display the 3candle pattern
- show pattern 3candlebig - display the 3candlebig pattern
- show pattern 4candle - display the 4candle pattern
- show pattern 4candlebig - display the 4candlebig pattern
- show pattern dblhcdbhlc - display the dblhcdbhlc pattern
- show pattern I2B - display the I2B pattern
- show pattern ppr - display the ppr pattern
- show pattern tbhtbl - display the tbhtbl pattern
Not all patterns strictly meet the definition of Price Action.
notification to the mobile terminal,
notification by e-mail.