It will provide you with some information how to trade pennants and triangles. Anyway, when a formation has been detected on the H4 time frame a breakout very often makes a quick move of at least 20 pips. So if you are more of a scalper then you could set take profit at that level.
I would like to point out again that signals are very rare and it could sometimes be a week without any signal on the H4 time frame. I trade H4 but you can of course also trade H1 and M30. To trade lower time frames than that does not make any sence.
Hi, I am Jan, developer of this indicator.
Please feel free to ask me anything about this, or my other products.
Regards,
Jan
where do you indicate to place stop?
Hi and thanks for renting my indicator :-)
Please read comment #5 under this link: https://www.mql5.com/en/market/product/23290#!tab=comments
It will provide you with some information how to trade pennants and triangles. Anyway, when a formation has been detected on the H4 time frame a breakout very often makes a quick move of at least 20 pips. So if you are more of a scalper then you could set take profit at that level.
I would like to point out again that signals are very rare and it could sometimes be a week without any signal on the H4 time frame. I trade H4 but you can of course also trade H1 and M30. To trade lower time frames than that does not make any sence.
Jan