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Cup and Handle 4.0

Metatrader Indicator (MT4/MT5)

  • Overview

    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 displays suitable stop-loss and take-profit levels
    • It is non-repainting and non-backpainting
    • It implements email/sound/visual alerts
  • Input parameters

    When loading the expert 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.
    Display SL/TP Levels
    Show or hide the stop-loss and take-profit levels.
    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.
  • </> Developers

    In order to build your expert advisor, you can read data from the indicator using the iCustom() function as exemplified below. The indicator has one extra buffer which only purpose is to store trading signals as constants: this is the only buffer you need to read from. Copy and paste the code below into your EA, and replace the indicator name of the iCustom() call with your own.

    //---- Read value from data buffer
    int start()
    // Read value from data buffer
    double value  = iCustom(Symbol(), Period(), "PZ_CupAndHandle_LICENSENUM", 1, 1);
    // Do something
    if(value == OP_BUY)      { /* Your code for bullish signal */ }
    if(value == OP_SELL)     { /* Your code for bearish signal  */ }
    if(value == EMPTY_VALUE) { /* Nothing to do */}
    // Exit
  • Comments

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Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader
Cup and Handle Indicator for Metatrader