Expanding top or bottom MT5
An indicator of patterns #1 and #4 ("Broadening Tops" and "Broadening Bottoms") from Encyclopedia of Chart Patterns by Thomas N. Bulkowski.
Version 1: bottom, top, bottom, top, top breakout. Version 2: top, bottom, top, bottom, top breakout.
- Alerts - show alert when an arrow appears
- Push - send a push notification when an arrow appears (requires configuration in the terminal)
- Variant1 - show version 1 of the pattern
- Variant2 - show version 2 of the pattern
- PeriodBars - indicator period
- K - an additional parameter that influences the accuracy of pattern shape recognition. The smaller the value is, the smoother the row of peaks/valleys should be, so fewer patterns will be recognized
- ArrowType - a symbol from 1 to 17
- ArrowVShift - vertical shift of arrows in pixels
- ShowLevels - show levels
- ColUp - color of arrow up
- СolDn - color of arrow down.
Note. Arrows appear on a forming bar and do not disappear.
It cannot be guaranteed that the indicator recognizes the patterns exactly as implied by the author.
Recommended optimization parameters: PeriodBars, K.