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-   -   M&W Pattern Indicator (https://www.forexfactory.com/showthread.php?t=541364)

PipsFestival May 26, 2015 1:44pm | Post# 1

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If you want to send me a ----------- You like my Indi or Live signals -------- Free Campaign on M&W Indi
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message [ Here ]-----_-------------[ Here ] ------------------------------ Ends on July 2016
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*** Get MW Pattern MT4 Indi for free ***

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Hi Traders,

About the Pattern:
I have developped this indicator based on old fashioned Patterns called M & W.
Patterns are more reliable on high timeframe H4, D1, Weekly & Monthly.... but it requires a very long time to form.
M & W are patterns that happen every single week on some pairs as cylce price movement always behave the same way. Going up and down... If we look at it closely, it forms letters M & W drawn on chart. (you can also display ZigZag standart Indicator, it helps to recognize theses patterns.

  1. M could create a strong support and can be seen as a double bottom.
  2. W could create a strong resistance and can be see as double top.


Find out more on the [ blog ]

How to get the Indicator?.... Free Campaign:
Started on May 2015
Ended on December 2015

About the Indi:
It sends MT4 Alert and it displays signals on chart. It also displays past signals

  1. Red rectangle means a W Pattern happened for a specific timeframe. It suggests to be prepared to go Short depending on CSA
  2. Green rectangle means a M Pattern happened for a specific timeframe. It suggests to be prepared to go Long depending on CSA

Very important to notice that the Indicator doesn't repaint.

Currency Strength Anlyser CSA
CSA is usually called strength meter. It indicates live data which is the strongest currency vs the weakest. All M & W Patterns won't work all time obviously as market doesn't bounce all time... It also breaks support & resistance level. Therefore CSA can be used to identify when to reverse original signals.

  1. Example 1 [ Here ]
  2. Example 2 [ Here ]

The main feature about CSA is the total provided by the tool. It indicates how volatile is the market globaly.

  1. YEN prediction (January 2016) based on CSA given Total [ Here ]


Filters:
Avoid signals from low timeframe (M30 & H1) if a high news is about to happen or has just been released.

Trade set up:
SL tight: 30 to 75... depends on Timeframe
TP... in terms of risk/reward: 1:3 at least!

How to place TakeProfit based on theory:
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Download M-W Pattern Indi
Beta version 5.0 (until July 2016)
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About Parameters
Some parameters are explained [ Here ] // Must be checked

Welcome on board

PipsFestival

Cheers


BataviaTrade May 26, 2015 1:54pm | Post# 2

why not share the indi out in the open (which is usual here) ?

billbss May 26, 2015 2:03pm | Post# 3

why not share the indi out in the open (which is usual here) ?
He's trying to build a list of email addresses.
The spammers will pay for lists like that.

The Sparrow May 26, 2015 2:04pm | Post# 4

come now Fevtival, you're asking openly for testing resources and then you want private communication and private indi distribution?
sounds like you want to be a commercial member? If not then put it out there.

BataviaTrade May 26, 2015 2:15pm | Post# 5

reported

PipsFestival May 26, 2015 2:43pm | Post# 6

why not share the indi out in the open (which is usual here) ?
I'm new, so I'm not used to it... i will do so then.

Introduction post has been edited.

PipsFestival May 26, 2015 3:04pm | Post# 7

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This is what you should get on EURUSD if everything works fine...

Red cross Sell signal
Bleu cross Buy signal

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profitkeeper May 26, 2015 3:38pm | Post# 8

I don't understand.
One usually sells an M pattern and buys a W pattern.

PipsFestival May 26, 2015 3:44pm | Post# 9

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I don't understand. One usually sells an M pattern and buys a W pattern.
Here is the detailed patterns:
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PipsFestival May 26, 2015 7:17pm | Post# 10

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Let me tell you a story... A long time ago, NZDJPY was really interesting
4 calls in a row (Combo Patterns)
2 short signals won
1 long signal won

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100% technical entry... can't do better swing entry:

Cheers

profitkeeper May 26, 2015 7:47pm | Post# 11

I still don't get your logic. Traditionally, an M pattern is at the top of a trend and a W is at the bottom. These jump out if you switch to a line chart. You sell a M and buy a W. You might get a couple of pips scalping the opposite, but that's it. An M represents a double TOP, and a W represents a double BOTTOM. It seems like you are just trying to capture the next leg of a ZigZag pattern - not looking for true Ms and Ws

Pippington May 26, 2015 8:49pm | Post# 12

I agree with your statement. I look for M patterns as a place to begin to look for a sell and W patterns as a place to begin to look for a buy. All in all, I wish you success PipsFestival on your trading journey.

I still don't get your logic. Traditionally, an M pattern is at the top of a trend and a W is at the bottom. These jump out if you switch to a line chart. You sell a M and buy a W. You might get a couple of pips scalping the opposite, but that's it. An M represents a double TOP, and a W represents a double BOTTOM. It seems like you are just trying to capture the next leg of a ZigZag pattern - not looking for true Ms and Ws

skenobi May 26, 2015 10:38pm | Post# 13

Hmm... Aren't M&W patterns usually looked for in conjunction with Bollinger bands?

hannele May 27, 2015 12:48am | Post# 14

Thank you PipsFestival, subscribed with pleasure.

cheers
hannele

BillYon May 27, 2015 2:45am | Post# 15

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Looks good as a possible breakout system as well...

Can you go deeper into how the patterns are derived?
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PipsFestival May 27, 2015 3:11am | Post# 16

I still don't get your logic. Traditionally, an M pattern is at the top of a trend and a W is at the bottom. These jump out if you switch to a line chart. You sell a M and buy a W. You might get a couple of pips scalping the opposite, but that's it. An M represents a double TOP, and a W represents a double BOTTOM. It seems like you are just trying to capture the next leg of a ZigZag pattern - not looking for true Ms and Ws
Indeed, You are used to draw Pattern outside the chart and I detect them by line chart... this is why we see opposite Patterns.
No scalping here, this is pure swing style 100% technical. Even with lowest timeframe 30M, you can have a look at your charts, you will see some very good calls. It's all about Risk/Reward: (1/3 minimum)
Last W (M for you) happened on GBPAUD weekly and it produced a retracement of 1000 pips from 2.000 area. If you close 10 pips, you shouldn't be using this strategy.
You should run your profit (ProfitKeeper) that the way to enjoy pips (PisFestival)

PipsFestival May 27, 2015 3:13am | Post# 17

Hmm... Aren't M&W patterns usually looked for in conjunction with Bollinger bands?
Thank you for your suggestions, if you have a moment to post a chart with Patterns + BB combo that would be nice : )

PipsFestival May 27, 2015 3:14am | Post# 18

Thank you PipsFestival, subscribed with pleasure. cheers hannele
Hey hannele,
Thank you for you interest and personal message... I will take time to reply to you : )

PipsFestival May 27, 2015 3:19am | Post# 19

Looks good as a possible breakout system as well... Can you go deeper into how the patterns are derived? {image}
Hi BillYon
I see your point, As M & W Patterns are in fact double bottom or double top with specific structure, they do have a clear Resistance & Support line that can be easily breakout especially when a red news is happening... it can be a good strategy at that moment too.

I guess you have displayed zigzag Indi?

BillYon May 27, 2015 3:31am | Post# 20

{quote} Hi BillYon I see your point, As M & W Patterns are in fact double bottom or double top with specific structure, they do have a clear Resistance & Support line that can be easily breakout especially when a red news is happening... it can be a good strategy at that moment too. I guess you have displayed zigzag Indi?

Yes ZigZag


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