Please note that this purchase is a 1-Year license. About License renew.
Ascending Triangle is a bullish continuation chart pattern consisting of 2 trend-lines.
This indicator draws two trend lines of Ascending Triangle on the chart when the pattern is formed. You can also consider it as an automatic chart pattern drawer.
Any chart pattern can be as simple as one or two trend lines, each trend line consist of two or three highs or lows. But the difficult part is that there are many possibilities of each chart pattern, due to series combination of number of bars and the price difference between the highs and lows.
For example, in the Ascending Triangle pattern, the number of bars between the 2 Lows(troughs) which form the lower trend line can be 8, but it can also be 14, 20 or even 30. This is because a chart pattern can take shape either in a short period of time or in a long term.
Furthermore, the price difference between the 2 Lows(troughs) which form the lower trend line may vary. In a short term(could be small-time frame or formation with fewer bars) Ascending Triangle pattern, the price difference could be much smaller than it in a long term one.
For example, price difference in a 5 mins chart is 8 tick size. But it may be more than 20 tick size in a 1-hour chart.
In order to refine the results that allow you to identify the exact pattern you need,
our chart pattern indicator has the following advanced functions.
Note: if you set Highbar1 to 6, it means the number of bars between the first High and the first Low is at least 6, not exact equal to 6. It can be 7 or any number greater than 6.
The same rule apple to Highbar2, Lowbar1 and Lowbar2.
By using different combination of parameters, you can easily identify the Ascending Triangle pattern in short term, midterm and long term.
You can also load the indicator three times on the chart, with your desired settings to plot Ascending Triangle pattern in short term, midterm and long term at the same time.
Copyright @ 2021 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 account is solely your responsibility.
TESTIMONIAL DISCLOSURE: TESTIMONIALS APPEARING ON OUR SITE MAY NOT BE REPRESENTATIVE OF THE EXPERIENCE OF OTHER CLIENTS OR CUSTOMERS AND IS NOT A GUARANTEE OF FUTURE PERFORMANCE OR SUCCESS.