Custom Patterns helps you to make constant trading more convenient in order to make profit on the market. This indicator harmonically identifies price movements and makes them visible by showing them dot per dot.
Due to the possibility to input the minimum and maximum retracement, you can define your own rule set for the moment of entry, setting of stop loss and take profit.
This indicator recognizes all usual formations like:
In addition, you can also create up to two own formations.
- amount_bars - count of checked bars
- bring_on_top - bring chart on top if a pattern is found
- play_sound - play sound if a pattern is found
- delete_old_patterns - remove old patterns automatically
- bmin - minimum retracement for dot B
- bmax - maximum retracement for dot B
- cmin - minimum retracement for dot C
- cmax - maximum retracement for dot C
- dmin - minimum retracement for dot D
- dmax - maximum retracement for dot D
- d - position for dot D
- color - pattern color
If dot „D“ should not be calculated by line segment „AD“ (respectively „Cypher AC“) but by „BC“, you can input a value of D=0.