this Pivot Point change x2 index shows entry and exit points based on candle patterns. there are several parts of the indicator: a sign pattern, a confirmation pattern (a breakdown of the fractal station), an exit sign (based on extremely long candles), signal filtering (from the time of the signal occurrence, Moving Average, preponderance, daily interval and reversal zones). There are data buffers, so it can be used in Expert Advisors.

First, the indicator looks for reversal patterns of 3-7 candlesticks. subsequently it filters the signals. The best filters are from MA (if the signal is over MA – only purchases, below – only sales) and daily interval (shows a signal to turn into a buy if it occurs in the lower 35% of the daily interval, and in sales if the signal occurs in the upper 35% of the daily interval).

There is also a fully working free version of the indicator, which only works on the USDCAD pair – https://www.mql5.com/ru/market/product/14994

[spoiler title=”Read More…”]

Section ” Signal pattern”

• History – on what period of history to look for patterns. Optimal 200-500 bars
• show_pr_pattern-search for the Pivot Point Reversal pattern (see figure)
• alert_pr_pattern-alert that the Pivot Point Reversal pattern is found
• show_prx2_pattern-search for the Pivot Point Reverse x2 pattern (see figure)
• ALERT_PRX2_PATTERN-alert that the Pivot Point Reversal x2 pattern has been found
• Show_Complex_Pivot_Point_Reversal-search for the Complex Pivot Point Reversal pattern (see figure)
• Alert_Complex_Pivot_Point_Reversal-alert that the Complex Pivot Point Reversal pattern has been found

Section ” Confirmation signal”

• Fractal_breakout_open_order – enable confirmation – breakout of the fractal channel. It can be used to top up a position that was opened by a signal pattern. Example: the signal pattern showed the BUY direction. The confirmation signal will be only when there is a break up of the line built on the last two upper fractals.
• Alert_Fractal_breakout-alert that a new fractal channel breakdown has appeared
• Show_only_Fractal_breakout – only confirmation signals are displayed on the chart, without displaying signal patterns

Section ” Signal to exit the position”

• Close_orders_candle – often long candlesticks on the chart are reversal candles. After them, there is either a reversal or a strong correction. The option searches for such candlesticks on the chart and marks them as a signal to exit the position
• period_candles_minutes – on which chart in minutes to look for signals to exit the position
• Alert_Stop_signals-a message that there is a new signal to exit the position

Section ” Signal Filtering”

• time_filter-an option in which signal candle patterns are not searched for at night from 23.00 to 8.00 at the terminal time. Disabled by default
• ShowMainLevels-option to display important price levels (maximum/minimum of the last three days)
• numberOfDays – for how many recent days to display important price levels at which to search for signal candle patterns
• MainLevels_filter – option to enable filtering of signal candle patterns. If enabled, it displays only patterns that are at important price levels.
• Use_overbalance_filter – filters all the signals of the indicator according to the principle of ADVANTAGE. When this option is enabled, all signals – both signal and confirmation – are plotted only in the direction of the current advantage.
• MinPoints-technical option for calculating the preponderance, shows the sensitivity of calculating trends and corrections
• MA_filter-enables filtering of signals according to the Moving Average
• MA_filter_period – MA value for filtering. Optimal 800 for the M15 timeframe, 400 for the M30 timeframe, 200 for the H1 timeframe, 50 for the H4 timeframe, 8 for the D1 timeframe.
• Percent_filter-enabled by default! Enables filtering of the day-interval
• PERCENT – the percentage of the daily interval. The optimal value is 35%. Lower value-reduces the number of signals and increases their quality. More-on the contrary
• Zones_filter-enables filtering by reversal zones (multiple candles in a row with shadows at the same level – reversal zone)
• Candle_zones – how many candles to look for next to the shadows on the same level. Default is 4

[/spoiler]