• 概要
  • レビュー (7)
  • コメント (23)
  • 最新情報

Pennants and triangles scanner

This indicator identifies high-probability breakout patterns. It does this by identifying strong, symmetrical pennants and triangles. This pattern DOES NOT appear very often on higher time frames. But when it does, it is a very high-probability setup.

The indicator also includes an Inside bars scanner. It can for example be used to detect a special type of Inside bars formation which is formed by a Master candle (MC) followed by 4 inside candles (please see the strategy explanation below). A separate indicator for this strategy can be found here.

The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading. For instance this product.

Features

  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a pennant, triangle or inside bar formation is identified, or when a breakout from the formation has occured.
  • The indicator includes an interactive panel. Please see screenshot #4 below.
  • Can be configured to show buy/sell lines and TP/SL lines (based on ATR multiplier). The lines will be shown on the chart which you open by clicking on a signal in the panel. Please see screenshot #5 below.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.


I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.

Please note that due to the multifunctionality neither buy/sell advice nor lines and arrows will be drawn on the chart where the indicator is installed. They can be drawn on the chart which will be opened when clicking on a signal in the panel.


Input parameters

Please find the description and explanation of the input parameters here.


Master candle strategy

Master Candle (MC) is a trading strategy based on a candle formation where the first (master) candle is followed by 4 smaller candles which are inside the first candle. The whole formation is built of 5 candles, independent of if bearish or bullish.

Timeframes: H1 and H4 charts. Even if the MC strategy works best on H1 it can be traded on all timeframe and currency pairs. Mainly on H4, H1 and M30 charts.

Currency pairs: Trades best on volatile pairs such as GBPUSD and GBPJPY.

After breaking MC high/low a position will be taken in the direction of the break. It is recommended that the MC has a size of 40 to 100 pips (but it depends on the volatility of the currency pair in question). It is also recommended to put stop orders for instance 5 pips above and below the MC high/low.

Some traders also use the rule that a break in any direction should occur during the next 3 candles after the MC creation (5 th candle). Anyway, it is highly recommended to cancel any stop order if there is no break after 24 hours.

Finally it is for better results recommended to trade in the direction of the trend as well as to avoid trading at strong and important price levels - resistances and supports. It is also advisable not to trade MC which appears inside another MC.

レビュー 7
nsrajpal
143
nsrajpal 2020.07.22 07:05 
 

Wonderful scanner. Helps a lot

hermes holguin
347
hermes holguin 2019.12.27 21:16 
 

First of all thank you Jan for your excellent support to my questions and your kind assistance, regarding the indicator and with it's latest update, I like the trading logic behind it, Well done.. :)

Matt Rivera
313
Matt Rivera 2019.11.14 19:42 
 

Great Indicator!! I just purchased and made a nice little profit.

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nsrajpal
143
nsrajpal 2020.07.22 07:05 
 

Wonderful scanner. Helps a lot

hermes holguin
347
hermes holguin 2019.12.27 21:16 
 

First of all thank you Jan for your excellent support to my questions and your kind assistance, regarding the indicator and with it's latest update, I like the trading logic behind it, Well done.. :)

Matt Rivera
313
Matt Rivera 2019.11.14 19:42 
 

Great Indicator!! I just purchased and made a nice little profit.

Wan Ping Fei
1612
Wan Ping Fei 2018.11.30 07:40 
 

Great indicator, I love it

Marcin Dariusz Lukasik
433
Marcin Dariusz Lukasik 2017.11.18 00:17 
 

You sell very good tools at a good price. Thank You. Keep it up!

Plamen Ivanov
1819
Plamen Ivanov 2017.11.03 09:43 
 

One of the most powerful tools in trading and a great seller! I recommend downloading this book /google it, it's free/ - "Encyclopedia of Chart Patterns" by Thomas N. Bulkowski.

Update: Great signals so far. Works great on indexes as well.

Aravind
6180
Aravind 2017.06.18 05:26 
 

ユーザーはレーティングに対して何もコメントを残しませんでした

バージョン 2.1 2020.07.08
- added the possibility to wait for a formation breakout before alerting
バージョン 2.0 2020.01.21
- the buy/sell stop offset points for the line drawings can now also be calculated based on Average daily range (ADR)
バージョン 1.9 2019.12.26
- added an option to enable drawing of buy/sell lines and suggested TP/SL levels (based on ATR multiplier)
バージョン 1.8 2019.11.20
- added the possibility to write the signals in the panel to a file. Could for instance be used by an Expert Advisor for automatical trading
バージョン 1.7 2019.09.16
- added an option to ignore wicks. More useful for inside bars than pennants and triangles
バージョン 1.6 2019.03.24
- added the possibility to set minimum and/or maximum candle size for the master (first) bar in a inside bars formation
バージョン 1.5 2019.03.19
Version 1.5:
- added an option to disable scanning of Pennent and Triangles (only inside bars will be scanned)

Version 1.4:
- lines will now also be drawn on inside bars when opening a chart from the panel
- added a parameter for the line color
バージョン 1.3 2019.02.17
- lines will now be drawn on the chart which is opened when you click on a Pennant/triangle signal in the panel. This in order to
to better visualize the formation
- added an option to use symbols from the Market Watch window instead of the symbols written in the Symbols parameter
バージョン 1.2 2018.11.28
- added an interactive panel to the chart where the indicator has been loaded.
バージョン 1.1 2017.07.17
- added scanning of inside bar formations