Bill Williams SquatGreenFadeFake pattern finderPRO
This indicator will signal when a squat, green, fade or fake appears.
- MFIsensitivity - controls sensitivity of detecting a change in MFI. For example, 1.1 means 10 % change in MFI needed to signal. 1.5 means 50% change needed.
- VolumeSensitivity - controls sensitivity of detecting a change in Volume. For example, 1.1 means 10 % change in Volume needed to signal. 1.5 means 50% change needed.
If set to true the indicators appear on the charts, if false they do not appear:
Sets the color of each indicator on the charts:
If set to true each indicator will send an alert when it appears, if false no alert:
The indicator will work on any time period.
What do the signals mean:
Each signal is a combination of a change in MFI and a change in Volume.
The MFI is the market facilitation index. It is a measure of change in tic price over volume.
- Green (+ tick volume, + MFI): a green indicates a green light for market movement. It is a breakout signal and you should go with whatever direction the trend is (more players entering the market, arriving players biased in direction of trend, price movement picking up pace)
- Fade (- tick volume, - MFI): a fade occurs when the market is taking a breath or losing interest. A fade is the opposite of a green,
- Squat (+ tick volume, - MFI): a squat is the strongest potential money maker of the four indicators, virtually all moves ends in a squat, however not all squats mean and end so they are a fantastic tool to use for confirmation of the end of a trend. Squats is the last battle of buyers and sellers it means lots of buying and selling but little price movement. The breakout after a squat can be profitably traded.
- Fake (- tick volume, + MFI): a fake means price movement but for some reason a drop in volume so you should beware in a fake. Market manipulation is a threat during a fake. Often a fake indicates a pause in market activity before a take off and breakout.
The highlighted text is whats in pro version.
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If there is anything you feel could be added to this indicator please email firstname.lastname@example.org. I am prepared to add anything requested to improve.