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Price Action Indicator

30 USD

Demo downloaded: 88

Published: 8 May 2015

Current version: 1.1

Price Action Indicator

Indicators
Semion Tremsin
Version: 1.1
Updated: 25 March 2020
Activations: 5

Simply drop the indicator on a chart, and you will always know when candlesticks form one of the Price Action patterns!

The indicator automatically analyzes recently closed candles, and notifies if they form any of the Price Action patterns. The following classical patterns are analyzed:

Pin bar
Outer bar
Pivot Point Reversal
Double base
Closing price reversal
Force bar
Mirror bars
Move-congestion-move

For each pattern, the indicator also shows trade direction in accordance with the classical Price Action theory. If you don't need any of the patterns, you can disable it. Additionally, you can choose the time frame the indicator will operate on. For example, while using the H1 chart, you can see Price Action patterns on H4. You can also specify the position of the indicator table on the chart, as well as font color.

Please contact the author if you have any suggestions for improving the indicator.

Notes:

The indicator handles actual prices taken from your broker's server. There might be discrepancies between these prices and bars that are displayed on the chart with your terminal
Price Action patterns are indicative and should be used in combination with other tools in order to make final decision about opening a transaction

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