The famed Head and Shoulders Indicator detects bullish-to-bearish trend reversals based on the famous algorithm by Giorgos E. Siligardos, PhD.
It is widely considered to be one of the most accurate trend pattern algorithms and we are happy to provide it for NinjaTrader 8.
Using three peaks (2 “shoulders” and one “head”), this chart formation is a forecasting indicator for a reversal in a bearish market.
✅ Based on proven technical analysis of charts
✅ Shows trend reversals
✅ Suitable for all types of traders and investors
✅ Easily set up
✅ Full customization including colours
✅ Premium features: Drawing the "m-point", price target region, cross target signals & arrow markers
✅ Fully compatible with NinjaTrader 8
Devside Trading’s Head And Shoulders Indicator is loaded with premium features & input parameters including:
- Drawing the "m-point" ~ projection of head point to the neckline
- Drawing the price target region
- Drawing arrow markers when the close value crosses into, above or below the region
- Cross target signals for the following states: above price region = -1, inside price region = 0, below price region =1, pattern not yet found = 2
- Factors: Shortens or increases the left half of the Head And Shoulders pattern for searching for the left shoulder
- Target Percent Lower Border: Defines the lower border of the price region
- Target Percent Upper Border: Defines the upper border of the price region
- Nearly unlimited amount of search bars for Head And Shoulders patterns