cTrader Chart Patterns Alerts - User Guide
Enhance your trading strategy with automated detection and alerts for key chart patterns.
Enhance your trading with this cTrader indicator that detects and highlights key chart patterns. It identifies formations like Double Tops, Double Bottoms, and Head and Shoulders, providing clear visual cues on your charts.
Features:
Automatic Pattern Detection: Identifies chart patterns in real-time.
Swing Plotting: Automatically plots pattern swings on the chart.
Neckline and Target Lines: Visualizes key levels for potential price movements.
Customizable Colors: Adjust colors for bullish, bearish, and neutral patterns to suit your preferences.
Alert Options: Stay informed with alerts via sound, pop-up notifications, Telegram, or email.
Pause Alerts: Temporarily disable alerts for focused analysis.
Pattern List Display: View abbreviations and occurrence counts of detected patterns.
Adjustable Zoom: Focus on specific pattern sizes by adjusting the zoom level.
Symbol and Timeframe Indication: Clearly see the symbol and timeframe for each alert.
Potential Profit Display: Assess potential profit sizes for each detected pattern.
User Comments: Add notes for strategy or pattern-specific insights.
Detected Chart Patterns:
Double Top
Double Bottom
Head and Shoulders
Inverse Head and Shoulders
Symmetrical Triangle
Ascending Triangle
Descending Triangle
Bullish Flag
Bearish Flag
Rising Wedge
Falling Wedge
This tool is designed to help you make informed trading decisions by providing clear visualizations and timely alerts for various chart patterns.
Video and Screenshots
Parameters
Pause & Help
Pause All Alerts: Here you can pause all the alerts this indicator generates. Useful when you don’t need any more alerts or when you want to reconfigure the indicator parameters without being interrupted.
Show User Guide Button: This places a button on the chart, that when clicked it opens this user guide.
Basic Settings
Zoom: This controls the size of the patterns you want the indicator to detect.
Zigzag Mode: This parameter lets you choose if you want the wick of the candles to be taken in consideration or not.
Tolerance: This parameter lets you control how strict the pattern detection will be. It ranges from 1 to 5, where 1 is the strictest. Setting this to 1 results in less patterns being detected, but with clear structures. When you set this to 5 it detects all the patterns it can, but their proportions might be distorted and not very reliable.
Pattern List
Show List: This will place a list on the chart, showing the enabled and detected patterns. This is useful to check the abbreviations of the pattern names, to know which patterns are enabled, and how many patterns the indicator detected on the chart.
List Vertical and Horizontal Position: This lets you move the list on the chart.
Patterns / Alerts
Here, you can enable the patterns you want the indicator to detect. Note that all patterns are grouped by their bullish and bearish version.
Pattern Customization
Abbreviations: This will label the pattern names on the chart with abbreviated names.
Show Target Price: This lets you enable a suggested target line for each pattern. Note that this is only a suggestion. You must analyze the risk and make it work for your strategy.
Font Size: This controls the font size for the labels on the chart.
Draw Pattern Swings: This draws the patterns on the chart, making it easy for you to identify them.
Line Thickness: Here, you can control the thickness of the lines drawn by this indicator.
Swing Line, Neckline and Target Style: These controls the styles of the lines.
Bullish, Bearish and Neutral Colors: This indicator can differentiate bullish patterns from bearish and neutral patterns, and here is where you can customize that.
Alerts
Comment: Write here a comment, and it will show up on the alert messages (cTrader pop-up, Telegram and email). Useful when you want to make a note about what to do when the alert is triggered.
Sound Alerts: Here, you can enable sound alerts from cTrader.
Sound Type: This is the sound used for the sound alerts.
Pop-Ups: This will generate cTrader pop-up when the alerts are triggered.
Send Telegram: You can enable Telegram messages here.
Telegram Bot Token and Bot ID: Place the credentials of your Telegram bot here.
Send Email: Here, you can enable email alerts.
Your email: The email you want the alerts to be sent to.