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PopGun Indicator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=73009
Forum: 17 · Topic 73009 · 1 post(s)
PopGun Indicator
Apprentice · Mon Dec 05, 2022 1:13 pm
Based on source https://www.prorealcode.com/prorealtime … -indicator
Jeffrey Kennedy from Elliot Wave International shared the PopGun Bar Pattern. He meant it as a way to find impulse waves for Elliot wave traders.
To trade the Popgun bar pattern, you must know what is an inside bar and an outside bar. (see attached screenshot)
An insidebar is one that is completely engulfed by the bar before it. It represents a contraction in range and a pause in directional trading activity.
An outside bar is one that completely engulfs the bar before it. It shows strength in both directions. Depending on the context, it is a sign of strength or a precursor to erratic movements.
The Popgun bar pattern consists of an inside bar followed by an outside bar.