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Triangles Patterns

Advantages of using the Triangle Pattern indicator for ProRealTime

  • Automatically identifies triangular figures;
  • Search for figures with customizable size;
  • Graphic display of the trend line interruption signal;
  • Analyze the triangular figure for the same instrument over several time intervals;
  • Alarm signs of breaking trend lines;
  • Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break and more;
  • Compatible with any time unit;
  • The indicator does not repaint! The signal is given in real-time and allows you to operate without any delay
  • The indicator can be integrated into any indicator, using ProRealTime’s ProBuilder function
  • The indicator can be integrated into any automated trading strategy, using ProRealTime’s ProBackTest and ProOrder function
  • The indicator is sold with a ProScreener program (included for the same price), that scan the patterns in realtime, on any market and for any compatible timeframe

Free update for ProRealtime V11

You will receive this screener and the indicator in the next 1 hours

This product works in any Futures, Forex or Stock/ETF Markets

Description

The indicator for ProRealTime “Triangles Patterns” identifies the triangles automatically.

In Technical Analysis the triangular pattern is a figure that is formed when the upper trend line and the lower trend line converge and tend to intersect in the future.

There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles. Technicians see a breakout, or a failure, of a triangular pattern, especially on heavy volume, as being potent bullish/bearish signals of a resumption, or reversal, of the prior trend.

This indicator allow to detect any type of Triangles Patterns:

  • Ascending
  • Descending
  • Symmetrical or Contracting
  • Expanding or Reverse
  • Pennants
  • Wedge
  • Flags
  • Imperfect Rectagles or Channels

The indicator draws the triangular figures starting from the maximum points and the minimum points of zig zag indicator incorporated in.

HOW THE INDICATOR WORKS:

The use of the indicator is completely customizable:

  • Selection triangle size.
  • Selection of the filter size of the Break Out signal
  • View different size of triangles by scrolling in the past.
  • View Zig Zag line points
  • Selection of the direction of the segments on past candles

The research of tringles of different sizes and periods can be set by means of commands with completely customizable variables.

By setting the “PricePercent” dimensional variable, it is possible to display triangles of different sizes. The higher the percentage value set, the greater the triangle width, and consequently the time dimension for trendline formation.

By setting the “Filter” dimensional variable, you can filter the triangle breakout signals.

By enable the “PastFractalPoint” and setting “PointsBack” dimensional variable, you can move the opposite vertices to the apex of the triangle, in the backward points, from 1 to 10.