Indicators for price action and alerts

Dears,

I’m beginning a new post concerning maybe a stupid question, but I was trying to understand trading based on Price Action, but anywhere, I could find what kind of indicators to use to know when to buy or sell, and even if there are alerts that can be programmed for the positions. Could you please let me know if there are indicators already made based on this, or is it a combo of different indis ? And how could I create alerts for Buy and Sell in different time frames ?

Sorry for my bad english, I’m french and found this web site for beginning to learn.
Thanks for your kind help :wink:

Price action trading is trading without indicators, the only alert I can think that be any use is a price point alert.

Actually…lol…I have an indicator that alerts me when certain candlestick patterns have formed, like engulfing bars and pinbars. If one is trading off the lower timeframes then it’s priceless to have one. I can have several charts open and not have to constantly flip through them every 5 mins. When the alert pops up, I just tab into that chart and check if it’s in a support or resistance area to know whether to be interested in it or not. :slight_smile:

Wonder68, sounds like you need to go to What is a Japanese Candlestick? | Japanese Candlesticks | Learn Forex Trading school to get to know ones indicate to buy or sell. Candlestick patterns are a big part of price action, and so is Support and Resistance | Support and Resistance Levels | Learn Forex Trading.

You’d have to look around like I did for an indicator to alert you when candles patterns have formed, but otherwise for S&R levels most platforms allow you to manually set alerts at whatever S&R price levels you figure are important. There are even indicators to alert you when price gets close to a trendline drawn previously.

First things first…go to school!

:slight_smile:

Yes of course, didn’t think of that, I used to write that kind of stuff back in my EA coding period!

Dear friends,
Thank you very much for your kind answers. Ok, I will return to school (:-)) and look about these candlesticks more closer.

@ Purplepatchforex: just a little question : do you still have maybe this coded indicator that shows patterns ? Maybe this could help me to understand quicker. If not, no problem.

Again, thanks for your kind answers, I much appreciate.

Sorry, but no, I don’t have them anymore, but they wouldn’t have been any use to you anyway, there are free indicators available for MT4 that identify candlestick patterns, but in my opinion they aren’t that much use they just clutter your chart and candlestick patterns are what they look like they are, basically, if you see peak, it’s a peak meaning a potential reversal, it don’t matter what you want to call the peak, it’s still a peak.

ok, no problem. I will study these candlestick and patterns here on the web site. Thanks agani for your kind help/

Go for it, and keep on track, ignore all indicators, they just make you turn left and right :D, it will cut down your learning by up to 2 years.

Hi Sweet Pip,

I would love to have an indicator that can alert you certain candlestick pattern…
Can you advise me where to get one???Thank you

Chienung

Yeah, that sounds quite useful.
Could you post a link to where you downloaded it from, or attach it yourself?

O.

Thank you Oliver…Could you attach the download page please…

I don’t have a download URL … that’s why I’ve asked Sweet Pip for it. :slight_smile:

O.

I find to follow price action using weekly and daily price gives clearest picture

Yes, PA trading is only candle formations and patterns! But, I use Moving Average and RSI to filter my entry and exit points in PA strategy! This combo process really helps me!