Master Pattern Screener

2023년 4월 18일

Master Pattern Screener
This is an indicator based on the concept known as the Forex Master Pattern, which contains three phases. The contraction, expansion, and trend phases This indicator, based on your current timeframe, finds out if there is a contraction on 10 symbols that you can customize to suit your needs.

How does it work?
The indicator is a table, and it finds 10 different symbols on the current timeframe that you have selected. Then it does volume and volatility calculations to determine if a contraction is occurring, which is the first phase and probably the most important phase in the FOREX MASTER PATTERN[\b].

This indicator is meant to be used in conjunction with our contraction plotter. We would have placed this indicator in the contraction and expansion plotter, but there were memory limitation issues, so we placed it in a separate indicator.

How traders can use this indicator
The contraction phase is extremely important because once a contraction is occurring, what always happens is an expansion. Some traders will avoid placing trades in the contraction phase, while others will enter to use the momentum for their trades. This indicator just makes it more convenient to identify the contraction phases.

Examples of the indicator:




Things you should know

• The symbols can be customized to whatever you want. You can choose your own stocks, cryptocurrencies, currencies, etc.
  
• Make sure that it's exactly the same; if you use, for example, BTCUSDT Coinbase but check on BTCUSDT Binance, then it may show inaccurate results.
  
• Since this script involves a decent amount of calculations, it may not work properly in low timeframes, like anything less than a minute.
  

2023년 4월 18일

릴리즈 노트

Updated thumbnail.

2023년 4월 18일

릴리즈 노트

Thumbnail didn't update. Had to redo it.

2023년 4월 18일

릴리즈 노트

Quick Bug Fix

2023년 6월 23일

릴리즈 노트

Fixed a bug where the script didn't load

2023년 8월 14일

릴리즈 노트

Matched the contraction calculations with the contraction and expansion plotter after updating that tool.

2023년 12월 16일

릴리즈 노트

Description Update