I've developed an indicator which can detect fake-breaks on the chart.
In the following you'll find the definition of the fake break candles and also you will find how to recognize it on the chart with practical examples.
What is the fake break pattern?
Sometimes support and resistance lines broke with a full body and strong candles that gives us...
This indicator is a tool that shows a relative view of the trading volume and classifies the volume into 5 different levels and makes it easy to compare it in different periods.
It is also specifically designed for detecting failed (fake) breakouts.
How it works?
This tool uses something similar to Bollinger Bands , but with more bands.
I used two standard...
What are Fakeouts?
As the name suggests, Fakeouts are breakouts that failed to continue beyond a level, resulting in a ‘false’ breakout. Traders who take long trades on breakout of the resistance level anticipate price to keep going up. A fake breakout (also known as ' Bull Trap ') happens when price reverses and starts falling instead of continuing to go up....