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.
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.
Currency pairs: Any
Preferred Time frames: Any
Configurable Indicator Options
Calculation period, wedge line mode, high low bands deviations,…
EUR/USD H1 Chart Example