Head and Shoulders 3.0
Metatrader Indicator (MT4/MT5)
Head and Shoulders is a specific chart formation that predicts a bullish-to-bearish trend reversal, or vice-versa for the inverted variant. It is believed to be one of the most reliable trend reversal patterns.
- Easy to use
- Customizable pattern size
- Customizable colors and object sizes
- It implements patterns and breakout signals
- It implements alerts of all kinds
- ≡ 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.
- Indicator Settings
- The amplitude reprents the size of the patterns to be found. The max. history bars parameter is the amount of bars in the chart to look back. Less bars to evaluate means the indicator will load faster.
- Choose the colors of the patterns.
- The indicator implements breakouts to make trading easier. You can select the breakout period (in bars) and the color of the arrows to be displayed in the chart.
- Enable or disable alerts at will.
- ? FAQ
- Does the indicator repaint?
- Yes, the indicator can repaint if the market ignores a pattern and keeps moving in the same direction.
- Does the indicator implement alerts?
- Yes, it does. It implements alerts of all inds.
- ✎ Comments
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