Hi support,

Would you have some documentation on the Rising/Falling Wedge indicators?
I'd like to know what the parameters mean and whether the wedge only appears on the latest period on the chart? I haven't been able to see it appear while doing historical back-tests.
What I am trying to do also is use the indicator to determine whether a breakout has occurred of the wedge, so any tips on this would be appreciated.

Regards.

Hello,
Sorry, at the moment you can't use Rising/Falling Wedge patterns in the Historical Tester. Those with sources will be available with the next release.

To construct any pattern indicator (Rising Wedge for example), we have to find pivot points on chart.
Pivot points are being calculated by running over the intervals of bars.

So the first pattern parameter "Start Count of Bars on Sides" is the mentioned interval initial length.
The second parameter "Bars on Sides Increment Count" provides the growth of interval length (this is done to cover more intervals)
The third parameter "Centering Inaccuracy" expressed in percents, allows to construct not very ideal wedges, meaning that the triangles of this figure could be not very isosceles.

The other patterns (Double Top for example) have the fourth parameter "Equality Inaccuracy" expressed in percents as well. This parameter allows to construct some figures with not very equal tops. If Equality Inaccuracy = 0.1, the tops must be 100% equal.