Pennants and triangles scanner

This indicator identifies high-probability breakout patterns. It does this by identifying strong, symmetrical pennants and triangles. This pattern DOES NOT appear very often on higher time frames. But when it does, it is a very high-probability setup.

The indicator also includes an Inside bars scanner. It can for example be used to detect a special type of Inside bars formation which is formed by a Master candle (MC) followed by 4 inside candles (please see the strategy explanation below). A separate indicator for this strategy can be found  here.

Features

• The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading.
• Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
• Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a pennant, triangle or inside bar formation is identified.
• The indicator includes an interactive panel. Please see separate screenshot.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.

I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.

Please note that due to the multifunctionality neither buy/sell advice nor lines and arrows will be drawn on the chart.

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