LevelPAttern MT5 is a technical indicator based on the daily levels and Price Action patterns. The indicator is based on the standard ZigZag indicator + reversal candlestick pattens, such as Star, Hammer (also knows as Pin bar), Engulfing and others. The indicator generates audio and text notifications when a pattern is formed and a level is touched. It also supports sending email and push notifications.
Indicator operation features
- It is suitable for working with any CFD and FOREX trading instrument. Recommended timeframe - H1, H4 and D1
- Formation of a pattern, or level touching + formation of a pattern can be considered a market entry signal
- When using this indicator, it is also necessary to take the global trend into account.
Parameters
- number of bars in the history of the indicator - the number of bars analyzed for detection of the Price Action patterns
- number of bars to search for levels - the number of bars for plotting levels based on the ZigZag indicator
- maximum distance between levels - the maximum distance in points between the breaks (peaks) of the indicator
- ZigZag color of daytime levels - color of the daily levels
- color of Zigzag levels - color of the ZigZag levels
- color of buy trend patterns - color of the patterns directed upward
- color of sell trend patterns - color of the patterns directed downward
- pat.:hammer - enable/disable the Hammer pattern (hm)
- pat.:hammer:max body (in point) - the maximum size of a candle body in points
- pat.:hammer:min shadow hammer handle (in % from sweep) - the minimum shadow of the Hammer handle as a percentage of the candle span
- pat.:hammer:max shadow opposite hammer handle - the maximum shadow opposite to the Hammer handle as a percentage of the entire candle span
- pat.:absorption - enable/disable the Engulfing pattern (abs)
- pat.: clouds - enable/disable the Cloud pattern (cloud)
- pat.:clouds:min body (in point) - the minimum body size in points
- pat.:clouds:min body (in % from sweep) - the minimum body size as a percentage of the entire candle span
- pat.:star - enable/disable the Star pattern (star)
- pat.:star:min body (in point) - the minimum body size of side candles in points
- pat.:star:min body (in % from sweep) - the minimum body size as a percentage of the side candles span
- pat.:star:max body star (in point) - the maximum body size in points of the central candle
- pat.:star:max body star (in % from sweep) - the maximum body size of the central candle as a percentage of the side candles span
- pat.:star:max sweep star (in point) - the maximum span of the central candle in points
- pat.:star: max sweep star (in % from the surrounding bars) - the maximum span of the central candle as a percentage of the side candles span
- pat.:star(doji) - enable/disable the Start (Doji) pattern star(d)
- pat.:star(doji):min body (in point) - the minimum body size of side candles in points
- pat.:star(doji):min body (in % from sweep) - the minimum body size as a percentage of the side candles span
- pat.:star(doji):max body star (in point) - the maximum body size in points of the central candle (can be 0)
- pat.:star(doji):max body star (in % from sweep) - the maximum body size of the central candle as a percentage of the side candles span
- pat.:star(doji):max sweep star (in point) - the maximum span of the central candle in points
- pat.:star(doji):max sweep star (in % from the surrounding bars) - the maximum span of the central candle as a percentage of the side candles span
- notice:alert - enable/disable alerts
- notice:email - enable/disable email messages
- notice:mobile app - enable/disable push notifications
- ZigZag:Depth - Depth of the ZigZag indicator
- ZigZag:Deviation - Deviation of the ZigZag indicator
- ZigZag:Backstep - Backstep of the ZigZag indicator
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