KT Power Pennant Pattern
KT Power Pennant Pattern Indicator
MT4 | MT5
KT Power Pennant Pattern indicator finds and marks the famous pennant pattern on the chart. A pennant is a trend continuation pattern with a significant price movement in one direction, followed by a period of consolidation with converging trend-lines.
Once a pennant pattern is formed, a buy/sell signal is provided using a bullish or bearish breakout after the pattern formation.
- Pennant patterns provide a low-risk entry after a period of consolidation, followed by a breakout.
- When combined with other methods of technical analysis, the signals provided by the KT Power Pennant pattern indicator can be advantageous.
- Consolidation period with lower volume followed by a breakout with increasing volumes provides a high chance of price continuation in trend direction.
- All Metatrader alerts implemented.
Bullish Pennant Pattern
Bearish Pennant Pattern
Input Parameters of KT Power Pennant Pattern indicator
- History Bars: The number of bars to find historical pennant patterns.
- Pattern Magnitude: An integer value that decides the pennant pattern magnitude and size.
- Pattern Formation Color: The color of trend-lines that form the pattern.
- Pattern Formation Width: The width of trend-lines that from the pattern.
- The rest of the inputs are self explanatory.
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