Ross Hook Indicator
Ross Hook is a price pattern indicator that help traders to forecast market inversions.
The activation of the pattern could identify turning points by finding the breakout SR levels or technical analysis figures like triangles, rectangles or head and shoulder.
The Indicator runs in all Brokers using Metatrader 4 platform and can be used in an Expert Advisor or as a support of manual trading.
This indicator is composed by the OnChart and OnWindow parts:
- OnChart: Draws the points 1, 2 and 3 to visualize the pattern.
- OnWindow: 4 buffers to read the pattern:
- Buffer 0:
0 no signal
-1 bearish signal
+1 bullish signal
- Buffer 1: Price of the point 1 (useful to place the stop loss)
- Buffer 2: Price of the point 2 (the level of the activation of the pattern)
- Buffer 3: Price of the point 3. (alternative stop loss)