- #1,710
- Edited 1:43pm Jun 27, 2025 1:27pm | Edited 1:43pm
- Joined Jun 2017 | Status: Trader | 2,081 Posts
This is a fine thread thanks to Mr. Hasib. I notise that Pusztafie show many trades using Price Action to trade Daily Range, Order Blocks etc. Amongst other she use a lot of Fakey setups. It looks effective, so I decided to make an indicator to show every time they are there.
The Fakey reveals a fake setup. First there is a Mother bar and an Inside bar. The IB has a high that is lower than the Mother bars high. And a low that is higher then the Mother bars low. So it is inside the Mother bar.
The third bar set a direction by exceeding one of the Mother bars wicks (high/low). The fourth bar however change the direction and exceed the Mother bars high or low in the opposite direction. And this way it reveals that the third bar was fake. Now we have the true direction.
Opposite for the bearish variation.
This is the way it is normally described. It can be more querky though. There could be more than one IB. But I use only this simple pattern in the indicator.
Pusztafie use the Fakey as a confirmation when the chart shows some kind of bounce, break, direction change or whatever.
So don't believe that this is the grail and you can take all trades. It is a confluence tool like anything else.
An arrow is painted whenever there is a setup. Then study the chart and see if there is basis for a trade.
I will make a new version which also can give an alert to screen and/or to your Iphone. Coming next week.
The Fakey reveals a fake setup. First there is a Mother bar and an Inside bar. The IB has a high that is lower than the Mother bars high. And a low that is higher then the Mother bars low. So it is inside the Mother bar.
The third bar set a direction by exceeding one of the Mother bars wicks (high/low). The fourth bar however change the direction and exceed the Mother bars high or low in the opposite direction. And this way it reveals that the third bar was fake. Now we have the true direction.
Opposite for the bearish variation.
This is the way it is normally described. It can be more querky though. There could be more than one IB. But I use only this simple pattern in the indicator.
Pusztafie use the Fakey as a confirmation when the chart shows some kind of bounce, break, direction change or whatever.
So don't believe that this is the grail and you can take all trades. It is a confluence tool like anything else.
An arrow is painted whenever there is a setup. Then study the chart and see if there is basis for a trade.
I will make a new version which also can give an alert to screen and/or to your Iphone. Coming next week.
MetaTrader 4 - so many advantages.
- #1,711
- Jun 27, 2025 1:39pm Jun 27, 2025 1:39pm
- Joined Sep 2008 | Status: Verry good | 1,267 Posts
Just an opinion. Based on research 
- #1,712
- Jun 27, 2025 1:44pm Jun 27, 2025 1:44pm
- Joined Jun 2017 | Status: Trader | 2,081 Posts
MetaTrader 4 - so many advantages.
- #1,714
- Jun 29, 2025 4:10am Jun 29, 2025 4:10am
- Joined Jun 2017 | Status: Trader | 2,081 Posts
[idézet=RiskFighter;15292372]{idézet} Szia 80808 Javítottam. Kérlek töltsd le újra.[/idézet] I have a fakey pattern indicator {file}
I have tried the Fakey Pattern together with my indicator. There is a difference.
The red arrow is from the Fakey Pattern.
2nd bar is an inside bar.
3rd bar high is over 1st bar high. This sets a direction to the north.
4th bar high does not take out 3rd bar high, then the break out is fake.
At least that is how I think it must have the rule.
In my opinion the 4th bar low should have been lower than 1st bar low, before you have a Fake.
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The blue arrow is from my indicator.
4th bar is an inside bar.
5th bar low is lower that 3rd bar low, then the direction is set to south.
6th bar high is beyond 3rd bar high. This change the direction to north and this was a fake break out.
This Fake was not found by the Fakey Pattern indicator. So rules between the two are not the same.
The rules I described in post #1.770 was something I found on the Internet.
I have coded the next version. It has these functions:
Will be released monday.
MetaTrader 4 - so many advantages.
