This indicator highlights deviations from broadening formations (or megaphone patterns). Deviations from broadening ranges can often foreshadow reversals, especially in consolidation phases. These deviations are highlighted via trendlines that change color when tested, and also have the option to be alerted.
These broadening formations are heavily used with "The Strat" and can add confluence when looking for reversals within higher timeframe points of interest.
Catatan Rilis
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Minor update so that users can change default line style and width
Still kinda confused on how this works? Do different timeframes have different results?
Marciukas
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Havent found much use of it, lags a lot.
dbest1a
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I have been using or observing it for the last few days . Ihave noticed it will put a dot below possible areas of a Broadeing formation. Sometime it may ine up , but I have found it most times to be pretty good. I have drawn a few Broadeing Formations with it , but like anything we should backtest it, which I still am.
steven_eth
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Reading this comments i think this might be misunderstood. It really does a good job of highlighting reversals. If you tap the top or bottom of a broadening formation, you will like reverse. Great indicator. I would ask, does the fractal pop at the close of the candle or does it pop so many candles after the fact once it knows that was the tap and not a breakout?
kevonclemmons
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The original line indicates the reversal not the deviation IMO. The deviation indicates continuation of the trend
dbest1a
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Looks very Nice . I look forward to checking this out