PA Patterns Indicator
This indicator detects 7 simple bar patterns used in Price Action method and marks them on the chart. Also, it gives a text message in the lower right corner of the screen.
The indicator is created to support the PA Patterns Robot for better visualization and testing. Together, they will help you to choose the most effective patterns for different instruments.
Recognized patterns: Inside bar, Pivot Point Reversal (PPR), DBLHC & DBHLC, Closing Price Reversal (CPR), Engulfing, Pin bar (2 bars & 3 bars), Outside bar.
- Max risk (pips) and Min risk (pips) - limit the size of the bar in order to avoid too small and too far goals.
- Take profit/Stop loss - TP value will match the candle's height multiplied by this factor and will be marked with the dot (SL - on the minimum or the maximum of the candle).
- Filter (pips) - added for compatibility with PA Patterns Robot.
- Bullish bar color, Bearish bar color, Mark Color - color options.