The indicator is looking for a two-bar reversal pattern of Price Action.

• Double bar with the same bases and a higher close – DBLHC (bullish setup)
• Double bar with the same highs and lower close-DBHLC (bearish setup)

The pattern can consist not only of two, but also of three, and even of four bars. It is believed that the more bars make up a pattern, the stronger it is. After finding a pattern, the indicator (if enabled in the settings) sends an Alert to the chart, sends a Push message to your mobile phone, or sends an e-mail message to the mail about the fact of finding the pattern. If a pattern was found that amplifies the previous one, then a multiplier appears in the message: x2, x3, x4, etc., depending on how many times the very first pattern in this chain was amplified. For example: for two bars with the same Low, a message about finding a Buy pattern will be displayed. If the next bar again falls within the limits that the indicator considers the” same ” Low of the first and second bars, then a message will be issued about finding the pattern x2, if the next first bar again has an equal Low with the second bar, then the message will already indicate the multiplier x3, etc. In this case, the entry level and stop level will be drawn for each new signal entering the same pattern, and the signal arrow appearing at the entry level will constantly move to the most recent signal appearing in this composite pattern.

[spoiler title=”Read More…”]

The indicator has eight configurable parameters:

• The difference between adjacent high or low – the difference between the High or Low of adjacent bars forming a pattern (usually 3 points). For five-digit quotes on H4, a value of about 10-15 points is quite normal
• StopLoss level in Point – the distance of the stop loss level from the lowest Low (bullish setup) or highest High (bearish setup) of the bars included in the pattern
• Draw opening levels and the levels of stop-whether to draw the stop loss level and the position opening/pending order setting level
• Colors levels bullish pattern – the color of the level lines for the bullish pattern (it matters if Yes is selected in point 3)
• Colors levels bearish pattern – the color of the level lines for the bearish pattern (it matters if Yes is selected in step 3)
• Use Alerts-report the pattern with an alert (Yes/No)
• Send Push-notifications-send a push message to your mobile (Yes/No)
• Send mail – send a message to an email address (Yes/No)

All three parameters about messages can be combined as you need.

[/spoiler]