SFP pattern mql5

A Swing Failure Pattern (SFP) is a trade setup in which big traders hunt stop-losses above a key swing high or below a key swing low for the purpose of generating the liquidity needed to push price in the opposite direction.

When price 1) pierces above a key swing high but then 2) closes back below that swing high, we have a potential bearish SFP. Bearish SFPs offer opportunities for short trades. When price 1) dumps below a key swing low but then 2) closes back above that swing low, we have a potential bullish SFP. Bullish SFPs offer opportunities for long trades.

Indicator finds SFP patterns on selected symbols and chosen time frame and depending on your choice alerts or draws the pattern on corresponding chart. If the chart where pattern is found is not opened the program automatically opens new window and draws the pattern. You can choose to scroll through all the symbols in Market Watch or enter your favorite symbols. Also you can choose any time frame from drop down menu.

---------Main settings--------

• Select all symbols from Market Watch? - if Yes the program scans through all the symbols displayed in Market Watch, if No - only selected in next input symbols are scanned
  
• Enter symbols you want - enter symbols separated by commas (they must be selected in Market Watch)
  
• Choose time frame - choose time frame from drop down menu
  

• Label color - select color for label text
• Font size for Info label - enter number for font size
  
• Info label position - choose Corner right upper or Corner right lower to position the label
  

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