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TrendWavePattern


TrendWavePattern  an another way to trade with a harmonic pattern, a maestro classic pattern . I made some improvements and combinations with my own strategy. Trend direction, buy-sell signal ,hi-low area and pivot line. These will be helpful for trader to read the current market condition. So it is not blindly following the pattern itself but also following other informations from the market.

Readable chart appearance. Designed to be user friendly even you are a new trader. BUY-SELL zone, TakeProfit and StopLoss price,current market trend and current bearish and bullish pattern. There are 3 Take Profit levels defined by Fibonacci levels and single stoploss drawn up automatically when the pattern triggered .


FEATURES

  1.  Chart Pattern
  2.  Alert when pattern triggered
  3.  BUY-SELL zone
  4.  Entry signal arrow
  5.  Multi TimeFrame Hi-Low Lines
  6.  Multi TimeFrame Pivot Line
  7.  Trend Line
  8.  TakeProfit and StopLoss lines
  9.  Easily to change color theme summarized into 2 color groups
  10.  Hide/Show each object/buffer 

TimeFrame: Recommended M5 - H4

Currency Pair: Any Currency Pair

Also we ca use it on Renko Chart


HOW TO TRADE

There are 2 ways to trade with TrendWavePattern Indicator

 1. Follow Pattern Direction, In case BUY order ( vice versa for SELL  ) :

  •  Bullish Pattern triggered , indicator will provide alert for this.
  •  Current Trend is UP Trend
  •  Price is on BUY ZONE , it is closely on Point D. 
  •  Buy signal arrow triggered ( Candle Close ).
  •  Stop Loss on " StopLoss Buy " line
  •  TakeProfit on Fibonacci level between BUY ZONE and SELL ZONE. There are 3 levels of TakeProfit line. You can choose one of them or you can place 3 buy orders at the same time and price with 3 different takeprofit for each order.
 2. Ignore the direction of Pattern. We can place order buy/sell on every pattern triggered. In case BUY order ( Vice versa for SELL ): 
  •  Pattern triggered ( No matter Bullish/Bearish Pattern ), indicator will provide alert for this.
  •  Current Trend is UP Trend
  •  Price is on BUY ZONE , it can be around Point D or Point C.
  •  Buy signal arrow triggered  ( Candle Close ).
  •  Stop Loss on " StopLoss Buy " line
  •  TakeProfit on Fibonacci level between BUY ZONE and SELL ZONE. There are 3 levels of TakeProfit line. You can choose one of them or you can place 3 buy orders at the same time and price with 3 different takeprofit for each order.


PARAMETERS

  1.  Show Target Fibo( True/False ). It is Fibonacci levels that is also TakeProfit levels 
  2.  Show Arrows (True/False ). It is entry signal arrow.
  3.  Show Trade Zone (True/False ) . It will show /hide trade zone and StopLoss lines.
  4.  Show Pivot ( True/False). It will will show Pivot Line
  5.  Pivot Period. Define Pivot Period here. It can be from M1- Monthly. 
  6.  Show High Low (True/False). It is High Price and Low Price of defined TimeFrame on Point 7 below.
  7.  High Low Period. It is a period of high low , it can be from M1-Monthly.
  8.  Show Texts ( True/ False ). Show/Hide Texts from chart.
  9.  Depth. It is the depth range of pattern
  10.  Histo. The period of bars the indicator will read pattern and zz buffers.
  11.  KPeriod , KPeriod of Stochastic
  12.  DPeriod, D Period of Stochastic
  13.  Slowing, Slowing of Stochastic
  14.  Overbought, Overbought level of Stochastic
  15.  Oversold, Oversold level of Stochastic
  16.  ColorUP, color group of up direction
  17.  ColorDN, color group of Down Direction
  18.  PopUp alert ( true/false ). Alert on current device
  19.  Mobile alert ( true / false). Alert on mobile device using Metaquotes ID
  20.  Email Alert ( true/false ) . Alert thru email. Setting Up email alert on MT4 platform required for this way. 


Please feel free to contact me or post it on comment section for any questions. 


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Version 2.2 2020.08.06
Modification on SL lines, Arrow signal and Fixing bug on Trendlines
Version 2.1 2020.07.24
Maintenance for the codes structure.
Change default StopLoss value.
Improving signal and alerts
Version 2.0 2020.06.28
Update on trendline function and some other minor bugs.