Complex head and shoulders MT5
An indicator of patterns #24, #25, #26 and #27 ("Head and Shoulders", "Complex Head and Shoulders") from Encyclopedia of Chart Patterns by Thomas N. Bulkowski.
- Alerts - show alert when an arrow appears
- Push - send a push notification when an arrow appears (requires configuration in the terminal)
- PeriodBars - indicator period
- K - an additional parameter that influences the accuracy of pattern shape recognition. The smaller the value is, the smoother the row of peaks/valleys should be, so fewer patterns will be recognized
- Head1 - with one head (normal "Head and Shoulders")
- Head2 - with two heads
- Head3 - with three heads
- Head4 - with four heads
- Head5 - with five heads
- ArrowType - a symbol from 1 to 17
- ArrowVShift - vertical shift of arrows in pixels
- ShowLevels - show levels
- ColUp - color of an upward line
- ColDn - color of a downward line.
Note. Arrows appear on a forming bar and do not disappear.
It cannot be guaranteed that the indicator recognizes the patterns exactly as implied by the author.
Recommended optimization parameters: PeriodBars, K, different combinations of parameters Head1 - Head5.