M & W Pattern Forex

M & w pattern forex

M & w pattern forex

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M & w pattern forex

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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.

M & w pattern forex

Going up and down... If we look at it closely, it forms letters M & W drawn on chart.

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(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 ]

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.

    M & w pattern forex

    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.

Forex Trading M and W Stop Hunting Setups

All M & W Patterns won't work all time obviously as market doesn't bounce all time... It also breaks support & resistance level.

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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...

M & w pattern forex

depends on Timeframe
TP... in terms of risk/reward: 1:3 at least!

How to place TakeProfit based on theory:

Attached Image (click to enlarge)


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

Fx tools, Indi & EA are available on my website.