KT Power Pennant MT4
Once a pennant pattern is formed, a buy/sell signal is provided using a bullish or bearish breakout after the pattern formation.
MT5 Version is available here https://www.mql5.com/en/market/product/44714
- Pennant patterns provide a low-risk entry after a period of consolidation, followed by a breakout.
- When combined with other methods of technical analysis, the signals provided by KT Power Pennant can be advantageous.
- Consolidation period with lower volume followed by a breakout with increasing volumes provides a high chance of price continuation in trend direction.
- All Metatrader alerts implemented.
- History Bars: The number of bars to find historical pennant patterns.
- Pattern Magnitude: An integer value that decides the pennant pattern magnitude and size.
- Pattern Formation Color: The color of trend-lines that form the pattern.
- Pattern Formation Width: The width of trend-lines that from the pattern.
- The rest of the inputs are self explanatory.