Flag and Pennant Indicators for TradeStation

Flag and Pennant Indicator Set for TradeStation

100% Money Back Guarantee

Available for TradeStation 8.4 and above

Plus Free Bonus Indicator

Flags and pennants are areas of price consolidation that occur after a strong bullish or bearish market move. Flag and pennant price patterns can form within an established trend or at the beginning of a new trend reversal. We first look to identify flag and pennant formations after a strong market move, known as the flag pole, which can occur on a single bar or over multiple bars. After the formation of the flag pole we then wait for prices to consolidate in the form of a flag or pennant before the bullish/bearish market momentum continues.

TradeStation traders can take advantage of these flag and pennant patterns to jump into newly forming trends with the potential to make extended runs once prices continue their move, or to find areas of price consolidation within an established trend. Flags and pennants occur in all markets from equities and options to forex and futures and e-mini and can form in any timeframe be it intraday, daily or longer.

We have programmed a set of TradeStation flag and pennant indicators which can be used to find pennants and flags as they form and to take advantage of these patterns when prices break out of the pennant or flag price formation.

We are confident our indicators will benefit your trading which is why we offer a 100% money back guarantee so you can try out our indicators for yourself and if they are not right for you just let us know within 30 days for a full refund.

We have also included our acceleration indicator for free with our TradeStation flag and pennant indicators which uses average true range to identify strong market moves. We find this indicator compliments the flag and pennant indicators. More details on the TradeStation acceleration indicator can be found here.

Below are some examples of the TradeStation flag and pennant indicators being applied to different markets and time frames. The yellow indicators represent the bullish flags and pennants and the red indicators represent the bearish pennants and flags. As you can see in the charts the indicator can also display the actual values of the top and base of each flag or pennant within the chart itself making it easier to identify support and resistance levels.

Bullish flag.

Bearish flag.

Bullish pennant.

Bearish pennant.

The TradeStation flag and pennant indicators also include the option to ignore whether or not a flag pole forms prior to the flag or pennant, and instead to solely concentrate on the formation of the actual flag or pennant itself. This gives traders the ability to scan for areas of price consolidation independent of the flag pole, like those found in established trends in the two chart examples below.

Bullish flags identified without the prior flag pole.

Bearish flags identified without the prior flagpole.

Key Features

The TradeStation flag and pennant indicators have a number of different inputs allowing you to easily adjust the indicator to suit your personal requirements. For example flags or pennants can be generated off the high and low bar prices or alternatively you can set the flag or pennant to develop based on the closing price, or from any other price variation. Here are some of the advantages offered by these indicators:

• Adjustable price parameters.
• Set minimum requirements for each price consolidation.
• Incorporates our new acceleration indicator.
• Expandable flags and pennants for stronger breakouts.
• Additional radarscreen information.
• Indicators also provided as functions.

Other features of these TradeStation indicators include the option to include text values displayed on each chart to make it easier to identify key price levels. The TradeStation pennant and flag indicators can also be applied to the new TradeStation scanner so you can scan all markets simultaneously to find flags and pennants.

Adjustable price parameters.

The sensitivity of prices breaking out of a flag or pennant can be adjusted so that you can select which prices are used in the formation of flags and pennants. Using the high and low will eliminate a flag or pennant immediately once prices break through support or resistance, while using the close will allow prices to breakout intrabar but retrace back into the flag or pennant on the same bar without eliminating the pattern itself. The two charts below show a flag pattern that formed on AAPL and broke out intrabar and retraced. The first chart shows a flag indicator that is set to eliminate flags that breakout intrabar while the flag indicator in the second chart uses the closing price to determine if prices have broken out of the flag pattern.

Breakout of flag on high or low.

Breakout of flag on close.

Set minimum requirements for each price consolidation.

The TradeStation flag and pennant indicators are not limited to a fixed set of parameters. You can can set your own values for determining the minimum requirement for each flag or pennant. For example you can set the minimum number of bars required for price to consolidate before determining areas of support and resistance, and the maximum and minimum consolidation range (volatility) of each flag or pennant to eliminate flags or pennants that might be considered too wide ranging, or to have too narrow a trading range, to be tradable. This way you can focus the indicator to look for the flags or pennants you feel best suit your requirements.

Incorporates our new acceleration indicator.

Both the flag and pennant TradeStation indicators incorporate our new acceleration indicator which uses a dynamic approach to measuring market momentum. The acceleration formula compliments these indicators by identifying flag poles prior to the main flag and pennant price formations. The flag and pennant indicators also include optional trend filters to help identify flags and pennants which occur in trending markets or at new price levels. The stand alone acceleration indicator is also included for free with the pennant and flag TradeStation indicators.

Expandable flags and pennants for stronger breakouts.

The TradeStation flag and pennant indicators includes a buffer function which allows you to increase the value of the top and base levels requiring stronger moves in price to trigger a breakout of the flag or pennant. Below are two examples of flag indicators applied to charts of IBM and AMZN which have a 1% buffer applied to each.

Bear flag with 1% buffer.

Bull flag with 1% buffer.

Additional radarscreen information.

When applied to a TradeStation radarscreen the flag and pennant indicators can be used to scan and sort multiple markets in real-time. In addition to monitoring large markets the flag and pennant indicators provide extra information about each price formation within a radarscreen. The components of the S&P 500 have been inserted into a radarscreen below which has the bull flag indicator applied.

The TradeStation flag indicator applied to a radarscreen.

As well as displaying the support and resistance values of any flags or pennants the flag and pennant indicators provide additional columns of information within a TradeStation radarscreen.

Breakout – displays an alert message, which can be set by the user, when the top or base of a flag or pennant has been broken.

Ratio – shows where the current price is in relation to the flag or pennant. A value between 0-1 means that the current price is inside the flag or pennant with 0 being the base of the flag or pennant and 1 being the top of the flag or pennant. A ratio value below 0 means price is currently below the flag or pennant and a ratio value above 1 means price is currently above the flag or pennant.

Flag Range – provides the range of the flag or pennant from support to resistance.

Flag Count – shows how many bars make up the current flag or pennant.

Flag ROC - shows the rate of increase/decrease in the flag or pennant per bar.

Indicators also provided as functions.

In addition to providing the TradeStation flag and pennant indicators, the flag and pennant indicators are also supplied as TradeStation functions enabling you to incorporate the flag and pennant functions into your own indicators and trading strategies.

Continued Support and Updates for a Minimum of 12 Months

All our products come with full support so if you have any problems or require any additional information you can contact us for assistance. We also offer updates for a minimum of 12 months so if any new features are added to these indicators during this time then they can be sent to you for free.

If you have any questions about this, or any other product we offer, please contact us at infotechnicaltradingindicators.com

Free Acceleration Indicator

To assist your flag and pennant trading we have incorporated our acceleration indicator into our flag and pennant indicators. As a bonus we have included our stand alone acceleration indicator for free. You can find more details about this TradeStation indicator by clicking here.

Acceleration Indicator for TradeStation The TradeStation acceleration indicator is designed to identify when markets have made extreme bullish/bearish moves. The indicator uses a simple dynamic formula to measure market movement over time. This TradeStation indicator is useful for traders who want to identify markets that have become extremely overbought or oversold and are likely to reverse, or to identify strong market thrusts like those that occur prior to market trends changing. $49.00

Breakout Box Indicators for TradeStation Breakout trading tends to occur after periods of extended price consolidation. Traders can take advantage of breakouts to jump early into newly forming trends with the potential to make extended runs once prices breakout, or to find areas of price consolidation within an established trend. We have programmed a set of TradeStation indicators which can be used to find areas of price consolidation and to take advantage of these markets when prices break through support or resistance. The breakout box TradeStation indicators have a number of different inputs allowing you to easily adjust the indicator to suit your personal requirements. These TradeStation indicators are also provided as functions and be applied in a radarscreen. $99.00

Darvas Box Indicators for TradeStation The Darvas box method was designed by Nicolas Darvas in his best selling book 'How I Made $2,000,000 In The Stock Market'. We have programmed the Darvas box method into a set of TradeStation indicators, and have expanded the functions of the Darvas box method beyond its original design. While Nicolas Darvas originally designed his box method for the stock market the Darvas box indicator can also be applied to other markets including indices, forex, options, futures and e-mini. Darvas boxes can also be utilized with varying time frames, from tick and minute charts to daily charts and beyond. The Darvas box TradeStation indicators are provided in both long and short versions and have a number of different inputs allowing you to easily adjust the indicator to suit your personal requirements. These TradeStation indicators also provided as functions. $99.00

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