Breakout Candle

$30.00

Categories: ,

Description

A candlestick pattern that repeatedly occurs in all markets, the price goes in tight flat range and then boom! a huge and very fast breakout happens.

This pattern allows traders to catch a huge move in a short period of time with high accuracy, this indicator recognizes this pattern.

We developed a model based on variation in previous bars highs and lows for recognizing flat areas in the chart for this indicator.
After indicator founds a flat area it waits for a candlestick that breaks highs or lows of all bars inside that flat area and when the break happened indicator plots a dot below or on top of that candle that will signal a completed breakout candle pattern.

Most of the time the indicator signal outcome is a huge and fast price move in direction of the breakout.

Since version 3.1 the indicator also consider the bar bearish/bullish volume amount, the breakout bar bearish or bullish volume must be more than 60% of total bar volume to be considered as a valid breakout bar, it uses our “Advanced Volume” indicator to get the bars volume data.

Features

  • Popup, sound, Telegram and email alert
  • Easy to set up with just two parameter
  • Works on all markets

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Version 3.1.0.0

Release Date: October 24, 2018

Added: Checking bar bearish/bullish volume by using Advanced Volume indicator

Changed: Alert library

Version 3.0.0.0

Release Date: June 04, 2018

Changed: Flat area founding algorithm

Changed: Alert library

Removed: Time and all technical indicators based filters

Version 2.0.2.0

Release Date: October 25, 2016

Added: New candle body filter method based on percentage.

Download Trial VersionDocumentation

Current Version: 3.1.0.0