Ross Hook Indicator
Ross Hook is a famous price pattern that tries to anticipate market inversions. The activation of the pattern identifies potential turning points of the market by finding the breakout of levels like descending lows in an upside trend, support or resistance breackouts, breackout of triangles, rectangles or head and shoulder.
The Indicator runs in all Brokers using Metatrader 4 platform and can be used in an Expert Advisor or as a support of manual trading.
This indicator is composed by the OnChart and OnWindow parts:
- OnChart: Draws the points 1, 2 and 3 to visualize the pattern. And it's possible to configure it to send an alert on MT4 and an email when a pattern is activated.
- OnWindow: 4 buffers to read the pattern:
- Buffer 0: value 0 if now there is no pattern, -1 bearish pattern now, +1 bullish pattern now.
- Buffer 1: Price of the point 1 (useful to place the stop loss)
- Buffer 2: Price of the point 2 (the breackout point)
- Buffer 3: Price of the point 3 (alternative price to place the stop loss)
The product is composed by:
- Ross Hook Indicator .ex4 format to forecast inversions or continuations of the market trend
- A readme.txt file containig the set of information to start using the indicator step by step
- Instructions.pdf containing the explanation of the input parameters and how to read the indicator in an Expert Advisor