This screenshot demonstrates how to combine the Excessive Momentum indicator and the Volume Spread Pattern Indicator to detect accumulation and distribution areas in your Forex trading. Both tools can be found on the MetaTrader platform.
Price Breakout Pattern Scanner can be used as a Support and Resistance Mode. Each pattern will provide diagonal support and resistance for your trading in support and resistance mode. MetaTrader 4 and MetaTrader 5 all have it.
You can immediately detect the essential supply and demand zones with the Mean Reversion Supply Demand Zone indicator. In addition, you can set a take profit and stop loss goal for them. The Mean Reversion Supply Demand Zone is repainting, while the Ace Supply Demand Zone is not.
In Harmonic Pattern Plus, the principle of pattern completion interval is demonstrated in this screenshot. It's a crucial component of your Harmonic Pattern Trading risk management. MetaTrader 4 and MetaTrader 5 all have it.
Here's a screen shot of how Advanced Price Pattern Scanner can access each price pattern it detects. Rising Wedge, Falling Wedge, Double Top, Triple Top, Triangle, double bottom, triple bottom and so on. It is available for MetaTrader 4 and MetaTrader 5 platform.
Another common breakout pattern scanner is Advanced Price Pattern Scanner. Triangle, Falling Wedge, Rising Wedge, Head and Shoulder Pattern, Double Top and Double Bottom can all be detected. It can also recognize cup and handle patterns.
If you want to trade harmonic patterns with Harmonic Pattern Plus and X3 Chart Pattern Scanner, you must consider the rolling ball effect for reversal trading. Understanding the rolling ball effect will help you save a lot of money while trading.
In 2014, one of the first automated Harmonic Pattern tools was announced is Harmonic Pattern Plus. It can detect well-defined trading entries and stops for common harmonic patterns. Furthermore, it recognizes Channels and 52 Japanese Candlestick Patterns.
For your trading, Elliott Wave Trend generates its own support and resistance. These aren't your typical help and resistance levels
The Volume Spread Pattern Indicator is a flexible volume spread analysis indicator that operates for a variety of timeframes. In several timeframes, it offers bearish and bullish volume spread patterns.