The Wing Patterns indicator searches the chart for many different types of patterns using the XABCD structure. The term Wing Pattern is used to refer to all types of models based on the general XABCD structure, which is constructed in an alternative form at the extreme points of High/Low.

In other words, assume that the point X is deferred at the minimum point of the graph. Point A is plotted on the next maximum point within a certain number of bars. This specific number of bars is called the depth level. In this example, point B will be plotted on the next minimum point for a certain depth. By the same logic, point C is at the next maximum, and point D is at the next minimum. If you connect these points on the graph, the resulting shape usually looks like the wings of a butterfly, hence the name Wing Pattern.

These patterns are very well combined with harmonic patterns. The indicator can display many types of patterns. Included patterns:

• Gartley.
• Pattern 5-0.
• AB=CD.
• Bat.
• Butterfly.
• Crab.
• Cypher.
• Deep Crab.
• Shark.
• Three Drives.
• Wolf Wave.

Other patterns that you can search for are stored in an external file. Users can also define their own models by adding rows of data to an external file. Note that the patterns in the external file can be changed or deleted.

[spoiler title=”Read More…”]

The chart displays a control panel that allows you to control the display of the found patterns. The necessary patterns can be enabled/disabled. All parameters of the control panel can be set by the user.

The Wing Patterns indicator has many configurable parameters. This allows you to change all aspects of the indicator according to the user’s preferences. By default, the indicator is not required to work without any configuration. The parameters are divided into the following categories:

• Yancy Indicator Parameters-setting the overall functionality of the indicator.
• Wing Pattern Basic Parameters-setting up the calculation method and using the indicator.
• Factor Parameters-sets the values of the global constants used in the Wing Patterns indicator.
• Search Pattern Parameters-settings for the search and calculation of patterns in the analysis.
• Custom Pattern Parameters – custom pattern processing settings.
• Wolfe Wave Parameters-settings for processing patterns based on Wolfe waves.
• Fibonacci Parameters-settings for processing Fibonacci corrections.
• Size Parameters-sets the size of the lines used to draw patterns on the chart.
• Font Parameters-setting the fonts used in the indicator.
• Color Parameters-setting the indicator colors. Users can change all the colors of the Wing Patterns indicator according to their preferences. The choice of colors does not affect the basic calculations of the indicator.
• Button Parameters – settings for managing graphical objects in the control panel.
• Display Parameters-setting the display of patterns on the chart.
• Signals Parameters-setting up the processing of trading signals by the indicator.
• Message Parameters-select the method for delivering notifications to the user. There are several options available, and you can choose from them at any time. You can enable multiple options at the same time.
• Quiet Time Parameters-setting the time for sending alerts. The parameters in this section define the time period when all notifications are disabled. The settings in this section override the message and alert settings. No notifications will be sent during the waiting period.
• Message Info Parameters-displays the internal statistics of the indicator. As a rule, this information is not needed by users. Therefore, it is recommended to leave this feature disabled.
• Debug Parameters – setting the debug mode. When debugging mode is enabled, a large number of messages will be generated. We strongly recommend that you disable debugging mode.

It should be noted that for the indicator to work, you do not need to change any parameters. All parameters are set to the default values that have the least impact on the indicator and on the user. The Wing Patterns indicator is designed to work perfectly by simply installing it on a chart.

[/spoiler]