Merrill Indicator MT5
The indicator looks for Technical figures of Arthur Merrill on the chart. In order to clarify how and for what data we are going to apply Merrill patterns, we need to understand what they actually are. The main two categories are the patterns resembling the letters M and W. They are called M and W patterns. Each of the categories contains 16 patterns.
Read more about them in my article - Merrill Patterns.
- Font Size — The font size that displays the pattern on the chart.
- Label Color — The color of the text label displaying the pattern.
- Search Depth — How many bars deep in history search for patterns.