Two Methods “King of Pattern MT5 – Head and Shoulders”
King of Pattern MT5 includes Two Methods for detecting patterns:
First Method: I have explained the most important forms in the description and image.
Second Method: It is very innovative and relies on a prior prediction of the chart’s movement. It detects the left shoulder and the main head and when draws the “triangle” head and quickly displays the Early_quick_pips prediction line, before right shoulder develops, which means more time to gain a pre-chart movement.. in Method 2 Fibonacci level calculation here is different, with level 0.0 starting exactly from the appearance of the Early_quick_pips line, which it is the line that lies exactly on the head of the right shoulder that has begun to form.
I have included explanations in the images for the 6 most important rules of the King of Pattern – Head & Shoulders indicator.
More details:
https://www.mql5.com/en/market/product/141619
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