This indicator will automatically detect all three types of triangle chart patterns, the symmetrical triangle, the descending triangle and the ascending triangle.
It will draw two trend lines of the triangle on chart when the pattern is formed.
The following image shows how alert works, whenever a Triangle pattern is detected you should be able to hear the alert sound. If the Alert log window is opened you can also see the alert message listed there.
It also comes with a standalone Market Analyzer script.
This Market Analyzer script is able to show when the latest Triangle Chart pattern formed within a given range.
The only input you need to pay attention is the "Range" input, it defines the number of bars used to check when the latest Triangle Chart pattern formed.
Make sure the "Range" input is less than "Bars to load" and "Max bar look bar" settings.
The following image is an example of how the Market Analyzer Column display.
Copyright @ 2019 Patternsmart - All rights reserved
This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It's not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.
Futures trading contains substantial risk and is not for every investor.Please read the following risk disclosure before considering the trading of this product: Futures Risk Disclosure. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial.Investor must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. Spreads, Straddles, and other multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options.
patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your self-directed account is solely your responsibility.