Free version
Last updated
Last updated
The Footprint Pattern indicator helps identify reversal points and trend continuation confirmations on the chart through cluster chart analysis. Filters allow optimizing the indicator's signals by considering the market context.
You can access this indicator directly within the ATAS platform!
The FootprintPatterns indicator identifies a cluster pattern on the chart. The logic behind it requires that the signal candle's wick must test the cluster with the maximum volume from the previous candle.
In the screenshot above, you can see reversal patterns. The algorithm can also display trend-following patterns; to enable this, adjust the Candle Sequence settings.
Activating the Clear Test filter will display only those patterns on the chart where the retest of the cluster with the maximum volume occurs tick by tick.
Activating filters for the pattern will display only those patterns that meet the following parameters:
Volume Filter - The maximum volume of the signal candle must be X times greater than the volume in the lowest cluster (for long positions) and in the highest cluster (for short positions).
Keltner Channel – The signal candle must test the boundaries or the moving average of the Keltner Channel.
Supertrend – The signal candle must be above (for long positions) or below (for short positions) the SuperTrend indicator levels.
The Combining Levels parameter activates the condition where the signal candle must meet the criteria of all active filters simultaneously.
To activate notifications, go to the Tools tab and check the corresponding checkbox. After this, notifications will be sent to the channel specified at this step.
