Flag and Pennant Patterns - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources
This indicator shows flag and pennant patterns.
This pattern is seen as the market may just "take a breath" after a large move before continuing its main trend.
Trend detection uses linear regression and "breathing" detection uses channels.
Attachment download
📎 flag_and_pennant.mq4 (37.53 KB)
Source: MQL5 #13704
Flag and pennant patterns - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Flag and Pennant Patterns - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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