KeitoFX Dynamic Indicator Free vers.This script represents a versatile dynamic indicator called "KeitoFX Dynamic Indicator Free version." It is developed by the author "KeitoFX" and operates as a custom indicator overlaying on financial charts. The indicator utilizes a unique algorithm to dynamically identify bullish and bearish candlestick patterns with specific criteria.
Key Features:
- The indicator visually marks bullish and bearish candlestick patterns using triangle shapes, providing quick visual cues to traders.
- Bullish patterns are detected when the closing price is higher than the opening price and the high and low prices of the candlestick form a narrow range.
- Bearish patterns are identified when the closing price is lower than the opening price, and the high and low prices also form a narrow range.
The indicator incorporates flexible settings that users can customize to fit their trading preferences:
- Users can choose the table's placement, either at the "Top Right," "Middle Right," or "Bottom Right" of the chart.
- Customizable dimensions for the width and height of the table are available.
- Adjustable text size settings ranging from "Auto" to "Huge" are provided for the displayed text.
- A descriptive table containing trading rules and conditions is optionally displayed below the price chart.
Additional Information:
- The indicator's color scheme is harmonious, with shades of purple and neutral tones.
- The "Require FVG" setting influences the pattern detection's sensitivity.
- A dynamic standard deviation is calculated based on the selected displacement settings and historical candle ranges.
- A "FVG" condition enhances pattern accuracy.
- Bullish and bearish pattern detection includes overlapping with other predefined arrays to increase pattern significance.
Note:
This indicator is provided under the Mozilla Public License 2.0, as indicated by the source code comment at the beginning of the script. Users are encouraged to review and comply with the license terms when using this indicator in their trading activities.
