Cup and Handle 2.0
Metatrader Indicator (MT4/MT5)
The Cup and Handle pattern is a technical price formation that resembles a cup and handle, where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern -the handle- is smaller than the left-hand side -cup-, and retraces no more than 50% from the top. It can be both a continuation and a reversal pattern.
- Clear trading signals
- Customizable colors and sizes
- Implements performance statistics
- Customizable sizes and pattern characteristics
- It is non-repainting and non-backpainting
- It implements email/sound/visual alerts
- ≡ Input parameters
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- The amplitude represents the minimum amount of bars between alternative price points. To find big patterns, increase the amplitude parameter. To find smaller patterns, decrease the amplitude parameter.
- Cup Flatness Ratio
- This parameter describes how "flat" must the top of the cup be relative to the cup size. A higher value will find stricter patterns, yet less frequent. A lower value will find more patterns.
- Min Handle Retracement
- The minimum percent retracement needed in the handle of the pattern.
- Max. Retracement
- The minimum percent retracement possible in the handle of the pattern.
- Max History Bars
- Amount of past bars to evaluate when the indicator loads in the chart.
- Display Stats
- Show or hide the statistics dashboard and performance data.
- Drawing Options
- Colors and sizes for bullish or bearish lines and labels, as well as font sizes.
- Colors and sizes for breakout arrows.
- Enable or disable alerts at will.
- ? FAQ
- Does the indicator repaint?
- No, the indicator does not repaint or backpaint at all.
- Does the indicator back paint?
- No, the indicator does not back paint.
- Can patterns be displayed in the chart before the breakout happens?
- No, it can't. The pattern and the breakout arrow are displayed exactly as the same time, to prevent the indicator from repainting.
- Does the indicator implement alerts?
- Yes, it does. It implements alerts of all inds.
- ✎ Comments
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