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Bearish 3-Method Formation Candlestick Alerts
On the TimeToTrade charts, an indicator can be added to detect Bearish 3-Method Formation Candlestick Candlestick patterns. The indicator can then be used to execute trades, provide an Email or SMS text message notification when your Candlestick chart patterns have been met or backtest trading strategies.
Bearish 3-Method Formation consists of a long bearish candle that indicates a strong directional move, followed by three small recovery candles, that are contained within the body of the first bearish candle. The last candle is a long bearish candle which re-enforces the continuation of the bearish move.
The three recovery candles can be bullish or bearish candles, with the key emphasis on the recovery candles being contained within the body of the first bearish candle.
The Bearish 3-Method Formation Candlestick pattern is considered as a bearish continuation pattern, as the expectation is that there will be continued downward move.
Learn more about the Bearish 3-Method Formation indicator.
Bearish 3-Method Formation Candlestick Alerts
You can use TimeToTrade to execute trades, notify you or backtest trading strategies, for example when the Bearish 3-Method Formation has been identified. Use the chart settings to add the Bearish 3-Method Formation Candlestick indicator.
After adding the Bearish 3-Method Formation indicator to the charts, click on the rising threshold chart trigger to create your alert. In the following example, an alert will be set up to provide a notification of when the Bearish 3-Method Formation rises above 0, therefore indicating that the Bearish 3-Method Formation has been identified.
Enter a message to remind yourself why the alert was created, select how you would like to be notified when the alert trigger conditions are met, then set 'reactivate alert' if you would like to get alerts each time your alert trigger conditions are met. Click on the green 'Activate' button on the Alert Builder when finished:
Bearish 3-Method Formation Trading Strategies
You can use TimeToTrade to execute trades when your Trigger Trading™ alert conditions have been met. For example, an order can be created to sell 100,000 GBPUSD when your Bearish 3-Method Formation alert trigger conditions have been met, with a take profit order if the price decreases by 20 points / pips and a stop loss if the price increases by 10 points as per the following example:
TimeToTrade can also be used to create alerts on Price and Volume as well as the technical indicators such as Stochastic, RSI, Bollinger Bands and Moving Averages plus a lot more. You can also create alerts on your own Custom Indicators.
Once you are familiar with creating basic alerts you can use TimeToTrade's advanced features to customise your alerts to suit you. You can build compound alerts containing multiple trigger conditions against price and multiple technical indicators; for example: you could set up an alert to notify you, or execute a trade, when the price falls below a defined value followed by the stochastic increasing above 20 and then a positive MACD crossover:
You can also edit the alert message you will receive and be notified by Email and SMS text messages when your alert trigger conditions are met.
To learn more about Sequencing and Grouping Multiple Alert Triggers click here.
Check Alert Triggers at Interval Close or on Each Tick During the Interval
Alerts can be set up to check if the trigger condition has been met at the end of an interval or on each tick during the interval. When creating alerts, click on the alert trigger and set the 'Check trigger when' field to 'interval closes' or 'on each tick during the interval' to change the behaviour.
For example if you wanted to check if the Close Price at the end of a 15 minute interval rises above 1.5, select 'interval closes' as illustrated:
If however you wanted to check for example if the hourly RSI falls below 30 and want to get an alert if that happens during the 1 hour interval, rather than checking at the close of the 1 hour interval, check the alert trigger 'on each tick during the interval' as illustrated:
Go to the Ask a Question section on the TimeToTrade forum to see the type of alerts and trading strategies that TimeToTrade users are creating:
- Ask a Question
- Trading Strategies
- Help Videos
- Technical Analysis Alerts
- How to Backtest your Alerts and Trading Strategies
Use can use TimeToTrade to execute trades or notify you when price, trendline, technical analysis, volume or candlestick chart conditions are met. Trade-Off The Chart, backtest, simulate and optimise your trading strategies, all without writing a single line of computer code. Set up a FREE account today.
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The information and data provided is for educational and informational purposes only. Interpretation and use of the information and data provided is at the user's own risk. All information and data on this website is obtained from sources believed to be accurate and reliable. However, errors or omissions are possible due to human and/or mechanical error. All information and data is provided "as is" without warranty of any kind. We make no representations as to the accuracy, completeness, or timeliness of the information and data on this site and we reserve the right, in its sole discretion and without any obligation, to change, make improvements to, or correct any errors or omissions in any portion of the services at any times. Past performance is not a guarantee of future results. Trading carries a high level of risk to your capital and can result in losses that exceed your deposits. It may not be suitable for everyone so please ensure you fully understand the risks involved.
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