If you are using support/resistance level-based strategies in your trading then this indicator can help you. I think that the retest level strategy is the best for beginners due to its simplicity of risk/reward calculations and higher abundance on the market. There is a well-known method to recognize a big player (buyer/seller) by candlestick pattern where the last two candles have the same low or same high. Moreover, abnormal candles increase the probability of a retest of a strong level, so my indicator highlights these two situations. In my opinion, a higher timeframe of a candle chart increases the win rate for this indicator (>1h).
So there are several patterns which my indicator can recognize:
1. Same low/high: blue flag up - same low, blue flag down - same high.
2. Mirror levels: high-low - green flag up, low-high - green flag down.
3. abnormal candles: yellow body if >2*ATR (please tune atr in properties, the default value is 5).
4. The red flag indicates the third candle with the same high/low in a row.
Thanks for your attention and have a good trading time!
скажите пожалуйста, индикатор этот,показывает одинаковые свечи hi/low за выбранный период на графике? а то я никак не разобрался с этим индюком
Cherepanov_V
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@Rolandik, a candle consists of four measures: hi, low, close, open. To say one candle has low - 4.00$ and and the next one has low - 4.00$. Then under the latter one you can see blue flag.