Price Level Break & Candle Pattern Detector

Price Level Break & Candle Pattern Detector

A powerful and customizable indicator that combines price level breakout detection with candlestick pattern analysis to generate precise trading signals.

Key Features
Monitors user-defined price levels for breakouts
Identifies bullish and bearish candle patterns
Generates real-time alerts when both conditions are met
Customizable alert settings for improved trade management

How It Works
The indicator continuously monitors price action around specified price levels. When price breaks through these levels AND forms either a bullish or bearish candle pattern (based on your settings), it triggers an alert. This dual-confirmation approach helps reduce false signals and provides more reliable trading opportunities.

Use Cases
Support/Resistance breakout trading
Key price level monitoring
Trend reversal identification
Breakout confirmation
Risk management tool

Benefits
Reduces false breakout signals through pattern confirmation
Saves time by automating price level monitoring
Helps identify higher-probability trading setups
Customizable to fit various trading strategies
Perfect for both day trading and swing trading

Alert Types
Price level break alerts
Candlestick pattern formation alerts
Combined confirmation alerts

Suggested Settings
Set price levels at major support/resistance zones
Adjust candle pattern sensitivity based on timeframe
Use with multiple timeframes for confirmation
Combine with volume analysis for better accuracy