Wedge Pattern Forex Indicator

The wedge indicator for Metatrader 4 identifies both rising and falling wedge patterns for any currency pair on any time frame.

Wedge patterns are considered to be reversal patterns. In other words, the price is likely to reverse in the opposite direction of the falling or rising trend if the price breaks through the wedge pattern.

Trading Signals

Buy signal: Identify a falling wedge pattern (bullish – see image below). Buy a price break through the falling resistance line.

Sell signal: Identify a rising wedge pattern (bearish). Sell a price break through the rising support line.

Indicator Preferences

Currency pairs: Any

Preferred Time frames: Any

Sessions: Any

Download

Download the wedges.mq4 indicator.

Configurable Indicator Options

Calculation period, wedge line mode, high low bands deviations,…

EUR/USD H1 Chart Example

free-forex-wedges-pattern-indicator

Share Now!