SFP pattern mql4

4.5

A Swing Failure Pattern (SFP) is a trade setup in which big traders hunt stop-losses above a key swing high or below a key swing low for the purpose of generating the liquidity needed to push price in the opposite direction.

When price 1) pierces above a key swing high but then 2) closes back below that swing high, we have a potential bearish SFP. Bearish SFPs offer opportunities for short trades. When price 1) dumps below a key swing low but then 2) closes back above that swing low, we have a potential bullish SFP. Bullish SFPs offer opportunities for long trades.

Indicator finds SFP patterns on selected symbols and  time frames and depending on your choice alerts or sends an email. All information is shown in the dashboard. You can open selected chart from the table and see the drawn pattern.

---------Main settings--------
  • Select all symbols from Market Watch? - if Yes the program scans through all the symbols displayed in Market Watch, if No - only selected in next input symbols are scanned
  • Enter symbols separated by commas - enter symbols separated by commas (they must be selected in Market Watch)
  • Enter time frames separated by commas - enter time frames separated by commas (M1,M5,M15,H1,H4,D1,W1,MN1)
---------Draw pattern--------
  • Line color - choose the color for drawing
  • Line width - enter number for line thickness
  • Place mark for stop loss (in ATR units)? - choose Yes or No
  • Multiplier for stop loss (in ATR units) - enter number what size for stop loss in ATR units you want
  • ATR period - period for ATR indicator

-----------Alerts----------

  • Show alerts when SFP detected? - choose Yes or No
  • Send email alert when SFP detected? - choose Yes or No, also you have to configure your email settings in Tools/Options/Email.

    Notes:

    • In tester mode the patterns are drawn only for symbols and time frames of the current chart ant alerts are shown in menu's Journal tab. Also email will not be sent.

    For rebates go to https://premiumtrading.co/?ref=13525 and choose broker.

    Reviews 4
    GillC
    22
    GillC 2024.06.04 07:20 
     

    I keep getting multiple alerts about symbols I didn't select in the settings such as Symbol CADCHF not valid or not selected in Market Watch. Please enter correct name. Giving good review in the hopes that I will get a prompt reply!

    So it's still not working. It is now saying I have the incorrect timeframe format- timeframe not valid. It's showing zero patterns and I have all on market watch selected so that's most unlikely!

    orangeedge
    240
    orangeedge 2020.12.23 12:56 
     

    Great indicator. Does exactly as described. Like the continuous updates.

    kot2303
    20
    kot2303 2022.03.24 06:40 
     

    орабатывает

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    GillC
    22
    GillC 2024.06.04 07:20 
     

    I keep getting multiple alerts about symbols I didn't select in the settings such as Symbol CADCHF not valid or not selected in Market Watch. Please enter correct name. Giving good review in the hopes that I will get a prompt reply!

    So it's still not working. It is now saying I have the incorrect timeframe format- timeframe not valid. It's showing zero patterns and I have all on market watch selected so that's most unlikely!

    Egidijus Bikulcius
    9308
    Reply from developer Egidijus Bikulcius 2024.06.04 13:30
    So check the symbols names that are entered in the input: Enter symbols separated by commas. The name must be the same as in Market Watch. Try one to few symbols for the beginning. Also please view the video. Before loading indicator for the first time it is advisable to load some history for every symbol by scrolling charts backwards.
    Check TF format - it must be like M15,H1,H4,D1,W1,MN1. The big TF can show sometimes errors, because there is not enough history on the chart. Now there are patterns on AUDUSD H1 and EURGBP W1.
    kot2303
    20
    kot2303 2022.03.24 06:40 
     

    орабатывает

    orangeedge
    240
    orangeedge 2020.12.23 12:56 
     

    Great indicator. Does exactly as described. Like the continuous updates.

    Евгений Колосков
    25
    Евгений Колосков 2020.12.14 13:22 
     

    хороший индикатор. конечно я бы кое что добавил. но в общем работает стабильно.

    Reply to review