Price Action Indicator
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
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.
- 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