Tweezer Top/Bottom Pattern (Expo) indicator identifies real-time Tweezer Top and Tweezer Bottom in any market and in any timeframe. This is an enhanced version of the pattern which enables higher accuracy, and noise filtering. In addition to that, Tweezer Levels can be displayed which can be used in many different ways, for instance, as a stop loss level, or to confirm the signal.
- The ideal Tweezer pattern includes that the wicks should be 100% the same length. However, that rarely happens. So in this enhanced version, the user can set the maximum change that is allowed between the wicks.
- To enhance the signal accuracy a Bullish engulfing and Bearish engulfing filter can be toggled on. So a signal will only be displayed if an engulfing candle is in play.
HOW TO USE
Tweezer Top/Bottom should be used together with KEY market levels or with KEY supply/demand zones.
- Enter Long: if a Tweezer Bottom signal occurs at a KEY Level or on a KEY supply/demand zone.
- Target: The first target should be the nearest resistance level or supply zone. The second target should be the next resistance level or supply zone, and so on.
- Enter Short: if a Tweezer Top signal occurs at a KEY Level or on a KEY supply/demand zone.
- Target: The first target should be the nearest support level or demand zone. The second target should be the next support level or demand zone, and so on.
- Stop Loss: The Tweezer levels can be used as a stop loss.
Remember: Use the indicator together with KEY levels or KEY Supply/Demand Zones.
INDICATOR IN ACTION
4 Hour chart
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