The Triangle pattern indicator is an MT4 indicator that plots the chart’s pattern. The triangle is one of the most popular chart patterns and suggests trend continuation. The indicator draws triangles on the chart by connecting the upper and lower trendlines. The upper trendline connects the highs, while the lower trendline connects the lows.
The indicator plots all three types of triangles; ascending, descending, and symmetrical. Traders need to know about these types before taking positions with the indicator. Traders should apply the indicator on longer timeframes to locate the triangles.
The above EUR/USD H1 chart shows the Triangle pattern indicator BUY and SELL signals. To enter the trades, traders need to look for triangles. Whenever the indicator plots triangles, it suggests a trend continuation. For example, on the chart above, we have uptrend and downtrend continuation after the appearance of the triangles.
The indicator works best on its own, but traders can apply Moving Averages or MACD for further signal confirmation.
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Please use on demo account so you can understand how this indicator work then go for live.