FindClosingPriceReversal with Alerts
The indicator watches for the Closing Price Reversal pattern.
It is a strong reversal pattern, especially if formed after a fast movement.
The signal bar opens with a gap from the previous bar's close, whereby the open price is next to the bar's high. The bar closes below the previous bar's close, whereby the close price is next to the bar's low (for the bearish setup). The same is mirrored for the bullish setup.
The indicator marks the signal bar above/below and draws a level for setting a pending order.
There are five adjustable parameters:
- Relative size of the candle - relative size of the pattern. The smaller the value, the smaller the sizes of bars to be involved in the pattern search.
- ATR's period for calculate relative candle size - period of ATR for the first parameter calculation.
- Use Alerts - use signal alerts, Yes/No.
- Send Push-notifications - send push-messages about the found pattern.
- Send mail - send e-mail about the found pattern.