ETE Detector v4 Head Shoulders
- Indicatori
- N'da Lemissa Kouame
- Versione: 4.0
- Attivazioni: 5
ETE Detector v4.0 (Head & Shoulders)
Author: KOUAME N’DA LEMISSA
Version: 4.0
Platform: MetaTrader 5
Indicator Type: Chart / Visual Trading Signals
Overview
The ETE Detector v4.0 is a technical indicator designed to automatically detect classic and inverse Head & Shoulders patterns (H&S) on MT5 charts. These patterns are widely used to anticipate trend reversals.
With this tool, traders can:
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Detect sell signals (classic H&S) and buy signals (inverse H&S) with accuracy.
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Easily visualize patterns using arrows, circles, and rectangles on the chart.
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Customize parameters to fit any trading strategy.
Key Features
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Automatic H&S Pattern Detection
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Scans a configurable number of candles ( LookBack ) to identify patterns.
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Checks symmetry between shoulders with a configurable tolerance ( Tolerance ).
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Clear Visual Signals
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Green arrows for Inverse H&S (buy).
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Red arrows for Classic H&S (sell).
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Circles mark the head and shoulders.
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Rectangles show the area between the head and neckline.
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Full Customization
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Colors for signals and zones ( BuyColor , SellColor , ZoneBuyColor , ZoneSellColor ).
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Rectangle border width ( RectangleWidth ).
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Minimum distance between head and shoulders ( MinDistance ).
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Chart Compatibility
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Works on all symbols and timeframes.
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Updates in real time as new candles form.
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Indicator Inputs
| Parameter | Description | Default Value |
|---|---|---|
| LookBack | Number of candles to analyze | 300 |
| MinDistance | Minimum distance between shoulder and head | 5 |
| Tolerance | Symmetry tolerance between shoulders (%) | 0.02 |
| BuyColor | Inverse H&S arrow color (buy) | Lime Green |
| SellColor | Classic H&S arrow color (sell) | Red |
| ZoneBuyColor | Buy zone rectangle color | Light Green |
| ZoneSellColor | Sell zone rectangle color | Light Coral |
| RectangleWidth | Rectangle border width | 8 |
How to Use
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Attach the indicator to an MT5 chart.
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Adjust parameters to match your strategy and timeframe.
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Watch for arrows and rectangles that appear automatically to detect trading opportunities.
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Green arrows indicate potential buy (inverse H&S), red arrows indicate potential sell (classic H&S).
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Rectangles show the head-to-neckline zone, useful for placing stops or targets.
Benefits
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Saves time with automatic pattern detection.
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Enhanced visibility with graphic markers and colored rectangles.
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Easy to customize for any trading strategy.
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Compatible with all currency pairs and timeframes on MT5.
Example Trading Strategy
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Buy: When the indicator identifies an inverse H&S and the price breaks above the neckline.
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Sell: When the indicator identifies a classic H&S and the price breaks below the neckline.
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Use rectangles as reference zones for stop-loss and take-profit placement.
