***READ THIS FIRST**** THE MASTER PATTERN Indicator USER AGREEMENT ***Commercial use will be interpreted as taking advantage of the free indicator in order to profit from it, for example: as part of any courses or mentorships offering training of the indicator or the concept its based. You don't need to pay for any training for this, the strategy is a simple trend following approach, even a caveman would understand. ********************************************************************************************************************** Now please enjoy the BEST Master Pattern indicator you will ever find for Tradingvew, and for the best price: FREE. Please do not give money to people trying to charge you for any inferior version of this indicator.
*** The personal/private use of this indicator is allowed, commercial use is FORBIDDEN.
DESCRIPTION
The Master Pattern indicator or The Forex Master Pattern is an alternative form of technical analysis that provides a framework which will help you to find and follow the hidden price pattern that reveals the true intentions of financial markets. This algorithm I came up with does a very good job detecting the Phase 1 of the Forex Master Pattern cycle, which is the contraction point (or Value), and then proceeds to differentiate between major or minor lines and prints the liquidity lines the correct manner in relation to the swings expanding from the contraction.
On Phase 2 we get higher timeframe activation (also called Expansion), which is where price oscillates above and below the average price defined on Phase 1.
On Phase 3 is where we get a sustained deviation from value (the Trend).
In a very short time you will start noticing this pattern, even on naked charts. It is all a matter of training your eyes - the more time you invest studying the charts with this indicator (both historically and replaying the market on strategy tester), the faster you will become familiar with this method.
This indicator DOES NOT REPAINT. You can safely study the chart historically because what is printed historically is what prints real time.
Why do traditional based indicator systems fail over time? Because the markets move in cycles that constantly change structure. Those traditional indicator systems must be constantly optimized and settings tinkered with because of the changing market environment. There are an infinite number of variables that affect price so no exact technical system can work the same forever, which is also the reason why most bots/EA fail.
If you learn to spot the Forex Master Pattern and understand the sequence of the real cycles that drive the markets, you can more accurately forecast market behavior. By using traditional indicators you end up masking this pattern.
Use the insights provided by the Forex Master Pattern indicator to elevate your trading to the next level.
This method of analysis works in any liquid market and timeframe.
VERY IMPORTANT:
The default setting of historical bars is set to 500. This is more than enough for day trading and ensures fast drawings loading time and stable performance. Bear in mind that, the more bars you choose to load historically, the longer it will take to draw everything. The max setting of this input for now is 800. If it is possible to increase it, I will update the code. So if you want to make historical analysis far in the past, just use the chart replay feature.
Indicator Parameters:
They are all self-explanatory, except Type. You can choose between 1 and 2.
1 is better suited for LTF (M1 to M30)
2 is better suited for HTF (H1 and upwards)
However, this is my personal preference. You can of course experiment and choose what looks best for you.
Instructions to use the alert function: 1st step - Choose symbol and timeframe for the alert Then it's gonna add the alert with the conditions that you've ticked/unticked inside indicator settings. Then repeat the process for different symbols, timeframes and different alert conditions.
2nd step - Go to indicator settings and tick/untick the boxes for the alerts you want
3rd step - Click on the ... (three dots) next to the indicator name (chart upper left corner) and click to add indicator alert
