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 timeframes. But when it does, it is a very high-probability setup.
The indicator also includes an Inside bars scanner.
- 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.
- The indicator includes an interactive panel. Please see separate screenshot.
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.
- added an option to disable scanning of Pennent and Triangles (only inside bars will be scanned)
- lines will now also be drawn on inside bars when opening a chart from the panel
- added a parameter for the line color
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