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KT Power Pennant MT5

KT Power Pennant finds and marks the famous pennant pattern on the chart. A pennant is a trend continuation pattern with a significant price movement in one direction, followed by a period of consolidation with converging trend-lines.

Once a pennant pattern is formed, a buy/sell signal is provided using a bullish or bearish breakout after the pattern formation.

MT4 Version is available here https://www.mql5.com/en/market/product/44713


Features

  • Pennant patterns provide a low-risk entry after a period of consolidation, followed by a breakout.
  • When combined with other methods of technical analysis, the signals provided by KT Power Pennant can be advantageous.
  • Consolidation period with lower volume followed by a breakout with increasing volumes provides a high chance of price continuation in trend direction.
  • All Metatrader alerts implemented. 

Input Parameters

  • History Bars:  The number of bars to find historical pennant patterns.
  • Pattern Magnitude: An integer value that decides the pennant pattern magnitude and size.
  • Pattern Formation Color: The color of trend-lines that form the pattern.
  • Pattern Formation Width: The width of trend-lines that from the pattern.
  • The rest of the inputs are self explanatory.
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