PABT Pattern Indicator
PABT Pattern Indicator - it's classical system one of the signal patterns.
Indicator logic - the Hi & Lo of the bar is fully within the range of the preceding bar, look to trade them as pullback in trend.
In the way if indicator found PABT pattern it's drawing two lines and arrow what showing trend way.
- First line - it's entry point and drawing at:
1. On the high of signal bar or on middle of the signal bar (depending from indicator mode) for buy;
2. On the low of signal bar or on middle of the signal bar (depending from indicator mode) for sell;
- Second line - it's stop loss level and drawing at:
1. On the low of signal bar or on middle of the signal bar (depending from indicator mode) for buy;
2. On the high of signal bar or on middle of the signal bar (depending from indicator mode) for sell;
Indicator set into buffers information about signal type and values of first and second lines, what give possobility to connect indicator to EA for automatical trading.
1. Minimum Bar Length (Pips) - minimum size of signal bar (in pips) for filtering of wrong signals;
2. Extra pips for entry price (not used for "50% Re-Trace") - extra pips to entry point for calculation spread and more tight indicator setup;
3. Extra pips for entry price (not used for "50% Stop Loss") - extra pips to stop loss level for calculation spread and more tight indicator setup;
4. Entry Modes - that's parameter include 3 indicators modes:
4.1 Safe Entry - set stop loss level and entry point level on High\Low of signal bar.
4.2 50% Stop Loss - mode for more strong trend, entry point level setting at High\Low of signal bar, stop loss level at middle of bar;
4.3 50% Re-Trace - In strong move price may not pull back (as in this move), entry point level settings at middle of signal bar, stop loss at High\Low
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