Brooks Always In [KintsugiTrading]

3 ago

Brooks Always In

Overview:
The "Brooks Always In Indicator" by KintsugiTrading is a tool designed for traders who follow price action methodologies inspired by Al Brooks. This indicator identifies key bar patterns and breakouts, plots an Exponential Moving Average (EMA), and highlights consecutive bullish and bearish bars. It is intended to assist traders in making informed decisions based on price action dynamics.


Features:

Consecutive Bar Patterns:
Identifies and highlights consecutive bullish and bearish bars.
Differentiates between bars that are above/below the EMA and those that are not.


Customizable EMA:
Option to display an Exponential Moving Average (EMA) with user-defined length and offset.
The EMA can be smoothed using various methods such as SMA, EMA, SMMA (RMA), WMA, and VWMA.


Breakout Patterns:
Recognizes bullish and bearish breakout bars and outside bars.
Tracks inside bars and prior bar conditions to better understand the market context.


Customizable Display:
Users can display or hide the EMA, consecutive bar patterns, and consecutive bars relative to the moving average.


How to Use:

Customize Settings:
First, I like to navigate to the top right corner of the chart (bolt icon), and change both the bull and bear body color to match the background (white/black) - this helps the user visualize the indicator far better.

Next, Toggle to display EMA, consecutive bar patterns, and consecutive bars relative to the moving average using the provided input options.
Adjust the EMA length, source, and offset as per your trading strategy.
Select the smoothing method and length for the EMA if desired.


Analyze Key Patterns:
Observe the highlighted bars on the chart to identify consecutive bullish and bearish patterns.
Use the plotted EMA to gauge the general trend and analyze the relationship between price bars and the moving average.


Informed Decision Making:
Utilize the identified bar patterns and breakouts to make informed trading decisions, such as identifying potential entry and exit points based on price action dynamics.


Good luck with your trading!