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Flag Pattern Pro

5

Flag Pattern pro is a Price Action (PA) analytical tool that scans the continuation patterns known as "Flag and Pennant Patterns" .

Flag and Pennant patterns are continuation patterns characterized by a move in a previous trend direction after a shallow retracement usually below 50% of the original move . Deep retracements can however be sometimes found at the 61.8 % levels. The original move is know as the flag pole and the retracement is called the flag. 


Indicator Fundamental

Fibonacci Ratios has found their validity in finance over centuries and their success in forex is nothing short of a revolutionary phenomenon . This is strongly based on the fact that the forex market is patterned around these numbers called Fibonacci ratios. Support, Resistance , Market turning points are patterned around these levels, that is why these levels should be a base in every trading system. Flag Pennant Scanner is designed to function with Fibonacci ratios, every retracement level and trade exit points are defined by the fibonacci ratios especially the 0.618 golden ratio.


Flag Reversal Pattern

The flag reversal pattern is formed when a pull back occurs around any fibonnacci level after a slight reversal from the original trend. To ensure higher success , the default parameters of this indicator looks for pull backs around 50% to 76.4 % fibonacci which makes most pattern pull back to occur around the 61.8 % fibonacci golden ration.

Flag Breakout Pattern

The breakout flag pattern occurs when price moves and breakout the previous flag pole tip after a short reversal . The breakout patterns usually occurs after the reversal pattern but in some cases they can occur at the same time.


STATISTICS :

Accuracy 1 : This is the percentage of the times price hits TP1 before it hits stop loss.

     Accuracy 1= (Total TP1 Hit /Total signals )*100

Accuracy 2 : This is the percentage of the times price hits TP2 before it hits stop loss.

     Accuracy 2= (Total TP2 Hit /Total signals )*100

Positive 1 : This is the percentage of the times price hits TP1.

Positive 2 : This is the percentage of the times price hits TP2.

Negative : This is the percentage of the times price hits stop loss (SL 2) .

Days : The number of days scanned in the historical data.


SL1 vs SL2 Usage

Traditionally due to the fact that there are two patterns recognized by the indicator (Reversal & Breakout ) , the indicator has two stop loss levels for the two patterns formed . The SL1 is the first stop loss designed to trading breakout patterns and the SL2 is the second stop loss level designed for trading reversal patterns


 Product Features

  • Non Repaint
  • Stop Loss Levels Indicated
  • Take Profits (Potential Reversal Zones)  Indicated
  • Accurate Statistics Dashboard
  • Email, Pop Up and Push/Phone Notifications

INPUT MENU SETTINGS

  • Pattern History : This is the range of historical bars scanned. This number affects how fast the indicator loads , the larger the number , the slower the indicator loads.
  • Pattern Amplitude : This is basically the most important setting for this indicator. It affects both the accuracy and number of daily signals . For a more filtered signal with less noise, this number should be increased . But if you want to see more signals, then the number should be reduced but the more the signals , the more the noise.
  • Minimum_Reversal : The minimum fibonacci reversal ratio. This affects how shallow or deep the flag pattern is.
  • Maximum_Reversal : The maximum fibonacci reversal ratio . This affects how shallow or deep the flag pattern is .
  • First TP Fibo : The first fibonacci ratio for take profit 1
  • Second TP Fibo : The second fibonacci ratio for take profit 2
  • Scan Reversal : Scan Reversal Patterns (True/False)
  • Scan Breakout: Scan Breakout Patterns (True/False)
  • Show Dashboard : Show Statistics Dashboard (True/False).

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Comentarios 5
Tony Gregg
666
Tony Gregg 2023.10.13 17:00 
 

So far seems like a very good indicator. I like all the settings options available.

Millymakeup123
50
Millymakeup123 2023.07.13 09:38 
 

Purchased this indicator from Nesimeye a few weeks back. Have been using it everyday on the M15. Monitoring around 9 pairs and fine tuning the PA at the start of every trading session. Basically, its excellent. Once you dial in the pattern amplitude, you can have full faith in the signals. Nesimeye is also very quick to answer any questions and very helpful too. Highly recommend, excellent.

Peter Fenderson
1174
Peter Fenderson 2021.12.08 18:01 
 

This is an excellent indicator for finding reversal patterns, I like everything about it: the Accuracy display is excellent for fine tuning the settings and the push notification is great for alerting me by phone when a setup has formed. I am having a lot of success with this indicator, it is the only one on MQL5 that I can find that finds reversal and breakout patterns and displays perfect fibonacci entries. I am using it to scan 12 different pairs simultaneously with great success. Thanks to the author, this indicator works great and I highly recommend it.

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3.5 (2)
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Tony Gregg
666
Tony Gregg 2023.10.13 17:00 
 

So far seems like a very good indicator. I like all the settings options available.

Millymakeup123
50
Millymakeup123 2023.07.13 09:38 
 

Purchased this indicator from Nesimeye a few weeks back. Have been using it everyday on the M15. Monitoring around 9 pairs and fine tuning the PA at the start of every trading session. Basically, its excellent. Once you dial in the pattern amplitude, you can have full faith in the signals. Nesimeye is also very quick to answer any questions and very helpful too. Highly recommend, excellent.

h1107a14
132
h1107a14 2022.08.10 16:36 
 

Ich habe den Indikator vor ein paar Tagen gemietet und die Ergebnisse waren sehr gut. Aber seit heute Mittag reagiert meine Plattform nicht mehr, selbst wenn ich den Indikator rausnehmen wollte, MT4 reagiert nicht. Schade wie kann man das Proplem lösen? bitte geben sie mir einen Rat.

Nesimeye Oswald
85137
Respuesta del desarrollador Nesimeye Oswald 2022.08.10 16:55
Very sorry that you are experiencing this sir. Have you tried using the latest version 1.1 ? . Also as general rule , don't use too much history
Peter Fenderson
1174
Peter Fenderson 2021.12.08 18:01 
 

This is an excellent indicator for finding reversal patterns, I like everything about it: the Accuracy display is excellent for fine tuning the settings and the push notification is great for alerting me by phone when a setup has formed. I am having a lot of success with this indicator, it is the only one on MQL5 that I can find that finds reversal and breakout patterns and displays perfect fibonacci entries. I am using it to scan 12 different pairs simultaneously with great success. Thanks to the author, this indicator works great and I highly recommend it.

Mr Jack Joseph Wilson
19210
Mr Jack Joseph Wilson 2021.08.10 22:40 
 

Currently testing - so far seems great. Solid system and really easy to use. Especially like the GUI interface! Will update this review after more testing and trading. Great work!

Nesimeye Oswald
85137
Respuesta del desarrollador Nesimeye Oswald 2021.08.10 22:41
Thanks for the review sir. Please don't hesitate to contact me if you need any support
Respuesta al comentario
Versión 1.5 2023.07.01
Fixed a minor bug from the last version
Versión 1.4 2023.05.15
Statistics Dashboard Updated
Versión 1.2 2022.10.11
We have upgraded the load time to make the indicator work faster and use less computer resources.
Versión 1.1 2022.08.07
This version has been updated to solve platform freezing issue. The issue is caused when an Mt4 platform does not come with a default indicator which is used by this indicator. This default indicator has now been coded directly into the indicator to prevent freezing .