This is a price action indicator that is based on the Doji and Pin bar reversal patterns. The indicator will detect Doji, Pin bars and Hammer candles on manually drawn trend lines or support and resistance levels within your MT4 software. Every time a Doji or a Pin bar touch your horizontal or diagonal lines on the charts, the Doji Reversal indicator will activate and either send an early signal or calculate the next candles and based on their levels issue a confirmed signals. There are two options for signals, early, on the candle itself, and confirmed, when a specific breakout or reversal pattern is confirmed.
This indicator will be very helpful for anyone who trades the price action patterns around trend lines and support and resistance levels. It will analyze the price action and issue signals respectively on trend reversals and/or breakouts.
The default settings of the indicator should be good for most traders, however, the Doji Reversal indicator can also be adjusted in the indicator's settings. For example, in default settings the indicator will read every drawn line in your chart. But this can be adjusted. Within the indicator's settings you can blacklist and/or whitelist specific lines by their color. In addition, you can change the signal settings and activate an early signal which will happen as soon as a Doji, Pin bar, or Hammer candles are formed on your lines. By default, however, only confirmed signals are generated and sent. They can also be sent to your mobile and email. (Requires MT4 configuration). Here are the Doji Reversal indicator settings.
This indicator will be very helpful for anyone who trades the price action patterns around trend lines and support and resistance levels.
To find out more and to download the Doji Reversal indicator visit https://mt4trendindicator.com/price-action-indicator/
The indicator works best on the daily charts but can also be used on other charts. Using anything below H1 is not recommended.
This indicator will be very helpful for anyone who trades the price action patterns around trend lines and support and resistance levels. It will analyze the price action and issue signals respectively on trend reversals and/or breakouts.
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The default settings of the indicator should be good for most traders, however, the Doji Reversal indicator can also be adjusted in the indicator's settings. For example, in default settings the indicator will read every drawn line in your chart. But this can be adjusted. Within the indicator's settings you can blacklist and/or whitelist specific lines by their color. In addition, you can change the signal settings and activate an early signal which will happen as soon as a Doji, Pin bar, or Hammer candles are formed on your lines. By default, however, only confirmed signals are generated and sent. They can also be sent to your mobile and email. (Requires MT4 configuration). Here are the Doji Reversal indicator settings.
This indicator will be very helpful for anyone who trades the price action patterns around trend lines and support and resistance levels.
To find out more and to download the Doji Reversal indicator visit https://mt4trendindicator.com/price-action-indicator/
The indicator works best on the daily charts but can also be used on other charts. Using anything below H1 is not recommended.