Master candle strategy

Features

• This is an indicator that recognizes a special type of Inside Bar formation which is formed by a Master candle followed by 4 smaller candles (please see the strategy explanation below).
• Plots buy/sell stop lines on the chart as well as well as take profit and stop loss levels. The TP/SL levels are based on the Average True Range (ATR) indicator.
• Object colors are changeable.
• Sends you a real-time alert when a Master candle formation is identified - sound / popup / email / push notification.

once a suggestion is given, you can confirm it with your own chart analysis. Generally the best setups to be traded are the ones occurring around important supports/resistances, round numbers, supply and demand zones, etc.

If you would like to use this indicator on multiple charts you might consider taking advantage of the inside bars scanning in my Pennants and Triangles scanner which you can find here.

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