Cup and Handle 4.0 Description :
The Cup and Handle pattern is a technical price formation that resembles a cup and handle, where the cup is in the shape of a “U” and the handle has a slight downward drift. The right-hand side of the pattern -the handle- is smaller than the left-hand side -cup-, and retraces no more than 50% from the top. It can be both a continuation and a reversal pattern.
- Clear trading signals
- Customizable colors and sizes
- Implements performance statistics
- Customizable sizes and pattern characteristics
- It displays suitable stop-loss and take-profit levels
- It is non-repainting and non-backpainting
- It implements email/sound/visual alerts
Cup and Handle 4.0 Settings:
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
The amplitude represents the minimum amount of bars between alternative price points. To find big patterns, increase the amplitude parameter. To find smaller patterns, decrease the amplitude parameter.
Cup Flatness Ratio
This parameter describes how “flat” must the top of the cup be relative to the cup size. A higher value will find stricter patterns, yet less frequent. A lower value will find more patterns.
Min Handle Retracement
The minimum percent retracement needed in the handle of the pattern.
The minimum percent retracement possible in the handle of the pattern.
Max History Bars
Amount of past bars to evaluate when the indicator loads in the chart.
Show or hide the statistics dashboard and performance data.
Display SL/TP Levels
Show or hide the stop-loss and take-profit levels.
Colors and sizes for bullish or bearish lines and labels, as well as font sizes.
Colors and sizes for breakout arrows.
Enable or disable alerts at will.
PS: Please keep the Indicator working for some time . Just ignore this message until the Indicator start working.