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

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
• Filter the triangle by Degree
• Filter the triangle by Slope
• Filter the triangle by Bars
• Filter the triangle by Height

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

If you enable “ZigZagPerc” mode, you can set zig zag indicator using a percent of price, while if you enable “Zig ZagVal” mode you can set zig zag indicator using a points value of price

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 dimensionsegments.

By  setting “PointsBack” variable, you can anchored  then triangles segments to past points of zig zag, from 1 to 10.

BREAKOUT SIGNAL:

The”StopPoint” variable allows to anchor the segments to previous n-bars, so as to be able to block the segment and generate the breakout

By setting the “Filter” variable, you can filter the triangle breakout signals. Filter is a percent of price.

DATA OF THE TRIANGLE:

If “ShowData” variable is >0, the triangle details will appear on price chart. If you increase the value of “ShowData” variable , you will increase interline between the data.

INTERFACE OF INDICATOR:

Advantages of using the Triangles Patterns indicator for ProRealTime

• Automatically identifies triangular figures;
• Search for figures with customizable size;
• Analyze the triangular trading pattern for the same instrument over several time intervals;
• Alarm signal of BreakOut trend lines;
• Filter the triangle by Degree
• Filter the triangle by Slope
• Filter the triangle by Bars
• Filter the triangle by Height
• Scrolling triangular pattern in the past
• Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break and more;
• Compatible with any time unit;
• The indicator is not redrawn, the real-time signal allows to operate without any delay;
• The indicator can be integrated into other indicators, using ProRealTime’s ProBuilder function;
• The indicator can be integrated into any strategy, using ProRealTime’s ProOrder and ProBacktest functions;
• The indicator is sold with the relevant ProSceener, to find Break out signals that are occurring simultaneously on several markets, with a chosen time period.
• We offer for free the screener once you have bought this product.

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