Description
The Quasimodo Pattern QM Indicator brings a new level of precision to price action trading. This innovative tool excels at spotting unique reversal patterns, especially after an uptrend. Its ability to deliver high win-rate setups and actionable market insights empowers traders to unlock greater potential in their trading strategies.
Review and Backtest
Key Features
Main Features:
- Quasimodo Pattern Detection: Accurately identifies and highlights Quasimodo reversal patterns directly on the price chart.
- Trading Signals: Generates clear Buy/Sell signals based on the formation of Quasimodo patterns.
- High Win Rate: Offers a proven track record of high success rates when trading using these patterns.
- Strategic Guidance: Suggests optimal entry points, Stop-Loss (SL), and Take-Profit (TP) levels tailored to the Quasimodo pattern.
Additional Features:
- Automated Pattern Recognition: Continuously scans the market to detect Quasimodo patterns automatically.
- Alert System: Provides instant notifications when a new pattern is identified.
- VPS Compatibility: Fully supports VPS for uninterrupted market scanning and pattern detection.
- Supply and Demand Zone Integration: Enhances accuracy by combining Quasimodo patterns with supply and demand zones to refine entry points.
Why Choose Quasimodo Pattern QM
User-Friendly: Makes spotting intricate price patterns effortless.
Automated Detection: Continuously scans charts to identify Quasimodo patterns without manual effort.
High-Profit Potential: Delivers a strong win rate with well-defined risk-to-reward strategies.
Practice Mode: Offers a demo version for traders to refine their skills before transitioning to live trading.
Quasimodo Pattern QM Trading Points
Entry:
As previously mentioned, during a pullback, the price tends to collect unfilled orders, making the left shoulder level a crucial entry point. We wait for the price to return to this level before entering the trade. A smart approach is to incorporate a supply and demand zone at the left shoulder level to refine the entry point further.
Stop Loss:
The stop-loss should be placed just above the higher high in a bearish scenario or below the lower low in a bullish scenario to limit potential losses.
Take Profit:
For a bullish reversal, the take-profit target should be set at the most recent lower low. Conversely, in a bearish reversal, the take-profit target will align with the most recent higher high.
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