MT4 Triangle & Wedge Breakout Indicator (Scanner)

The left-bar parameter controls how far back the fractal must be the dominant high or low — a larger value produces fewer but more structurally significant fractals. The right-bar parameter controls detection lag — a smaller value allows fractals to be identified closer to the current bar, at the cost of some additional noise.

• Symmetrical triangle — formed by two upper and two lower fractals where the upper boundary slopes downward and the lower boundary slopes upward, converging toward a point.
• Ascending triangle — the upper boundary is approximately horizontal, the lower boundary slopes upward. A slight slope tolerance is configurable.
• Descending triangle — the lower boundary is approximately horizontal, the upper boundary slopes downward.
• Rising wedge — both boundaries slope upward, with the lower boundary steeper — causing the two lines to converge.
• Falling wedge — both boundaries slope downward, with the upper boundary steeper — causing convergence in the opposite direction.

The directional context of each formation is determined by the sequence of alternating fractals: a bullish condition follows a lower fractal, a bearish condition follows an upper fractal.

When the MACD histogram is above the signal line, only bullish formations are registered. When the histogram is below the signal line, only bearish formations are registered. This ensures that detected formations are evaluated in the context of the prevailing trend direction as measured by MACD.

An additional prior movement check is also available — when enabled, it evaluates whether the price movement preceding the formation is consistent with the expected directional context of the pattern.

• Trend lines — two lines drawn through the upper and lower fractal points that define the formation boundaries.
• Triangle to last fractal — the formation is displayed as a filled triangle shape extending to the most recent fractal.
• Triangle to signal bar — the formation is displayed as a filled triangle shape extending to the bar where the directional marker appears.

Each cell shows the abbreviated pattern name, the directional context of the registered condition — bullish or bearish — and the number of bars back at which it was registered. Clicking any cell updates the chart to the corresponding asset and timeframe directly.

Indicator Limitations — Triangle and wedge detection is based on fractal geometry applied to historical price data. The indicator identifies formations that meet the defined structural and proportional criteria — it does not predict future price movement or guarantee that a detected formation will result in any particular price behavior. Pattern validity depends significantly on the fractal and MACD parameter settings — different configurations will produce different formation counts and detection sensitivity. All registered conditions should be evaluated within a broader analytical framework.