PZ Penta O MT4

The Penta-O is a 6-point retracement harmonacci pattern which usually precedes big market movements. Penta-O patterns can expand and repaint quite a bit. To make things easier this indicator implements a twist: it waits for a donchian breakout in the right direction before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal. The donchian breakout period is entered as an input. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]

• Customizable pattern sizes
  
• Customizable colors and sizes
  
• Customizable breakout periods
• Customizable pattern ratios
  
• It implements visual/sound/push/mail alerts

Kindly note that price patterns such as this can expand and the indicator must repaint to follow the expansion of the pattern. If the pattern repaints beyond the ratios entered in the parameters, the pattern will dissapear as it won't be valid any more. To trade these patterns, please resort to the donchian breakout signal.

• Bullish patterns are blue
• Bearish patterns are red

Penta-O patterns do not happen very often: to find more, load the indicator many times in the chart with different amplitudes.

important: This indicator has been renamed to comply with a trademark complaint from Mr. Scott M. Carney, who owns the following trademarks in the USA: Five-O Pattern.

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