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SRPatterns

This is a pattern detection indicator. It also draws Support and Resistance lines, depending on user settings.

Main features:

  1. Draws Support and Resistance lines of the SRPeriod
  2. Detects four patterns including Pin bars, Engulfing bars, Pingulfing bars and 2 bar reversal patterns
  3. Includes the feature to enable/disable Support and Resistance lines
  4. Includes the feature to enable/disable detection of any of the specified patterns
  5. Includes the feature to enable/disable alerts
  6. Every candle pattern is represented by different arrow type (Please see the screenshot)

The input parameter details are as follows.

General Settings:

  • Offset - Distance of the arrow from the bar in pips.
  • AlertOn - If true, the indicator will keep alerting you on signals.
  • ConsiderSR - If true, the indicator will only consider the patterns formed on Support/Resistance lines. If false, it will indicate all patterns regardless of whether the pattern was formed on Support/Resistance lines or not.

S/R Settings:

SRPeriod - SR will consider last SRPeriod number of last bars for Support and Resistance lines.

PinBar Settings:

  • ConsiderPinBar - If true, the indicator will alert on pin bar on Support and Resistance levels.
  • PBRatio - The body ratio for the pin bars.
  • MinBarSize - Minimum bar size in pips.

Engulfing Settings:

  • ConsiderEngulfingPattern - If true, the indicator will alert on Engulfing Patterns on Support and Resistance levels.
  • MinBarSizeEngulfing - Minimum bar size in pips for engulfing candle.

Pingulfing Settings:

  • ConsiderPingulfingPattern - If true, the indicator will alert on Pingulfing on Support and Resistance levels.
  • MinBarSizePingulfing - Minimum bar size in pips for Pingulfing candle.

Pattern Reversal Settings:

  • ConsiderPatternReversal - If true, the indicator will alert on pattern reversal on Support and Resistance levels.
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