Here is a classic 123 pattern indicator, this indicator can identify the profitable patterns. Please help me modify this indicator so that it just shows the patterns that are really profitable. Here is the extra rules that I need it to incorporate.
123 Indicator rule,
1. 1 to 2 point distance cannot be more then 50 pips and cannot be less then 20 pips.
2. Each of 1 to 2 and 2 to 3 must have a candle in bitween them to be valid 123 pattern.
3. There can be invalid 123 patterns in bitween valid patterns(see point 1 & 2)
Show above valid patterns on chart.
Also this indy only shows some of current patterns. If it's possible to show all the previous patterns..that would be helpful to identify validity of the indy. here is the indicator and a 5m chart.
If possible 1 and 2 point distance pip value should be made adjustable so that it's possible to check on chart with different pip values.
123 Indicator rule,
1. 1 to 2 point distance cannot be more then 50 pips and cannot be less then 20 pips.
2. Each of 1 to 2 and 2 to 3 must have a candle in bitween them to be valid 123 pattern.
3. There can be invalid 123 patterns in bitween valid patterns(see point 1 & 2)
Show above valid patterns on chart.
Also this indy only shows some of current patterns. If it's possible to show all the previous patterns..that would be helpful to identify validity of the indy. here is the indicator and a 5m chart.
If possible 1 and 2 point distance pip value should be made adjustable so that it's possible to check on chart with different pip values.
Attached Image (click to enlarge)
Attached File(s)
