Expansion Triangle Indicator in TradingView – Free – [TFlab]

The Expansion Triangle Indicator is a powerful trading tool designed to automatically detect and plot one of the most practical chart patterns in technical analysis—the Broadening Formation, also known as the Expanding Triangle. This pattern typically emerges during periods of significant market volatility and heightened trader uncertainty.
Its defining characteristic is a structure where price action creates successively higher highs and lower lows. Consequently, the two primary trendlines diverge and expand outward from one another, forming a distinctive megaphone shape on the chart.

You can access the Indicator from this link:
https://tradingfinder.com/products/i...sion-triangle/

You can access the Indicator on the TradingView website:
https://www.tradingview.com/script/K...ne-Broadening/

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Expansion Triangle Indicator: Key Specifications & Categories
This versatile indicator falls under several crucial categories for traders:

1. Price Action TradingView Indicators
2. Signal & Forecast TradingView Indicators
3. Candle Sticks TradingView Indicators

Supported Platforms:

1. TradingView Indicators

Recommended Trading Skill Level:

1. Elementary

Indicator Type:

1. Reversal TradingView Indicators

Compatible Timeframe:

1. Multi-Timeframe TradingView Indicators

Ideal Trading Style:

1. Day Trading TradingView Indicators
2. Scalper TradingView Indicators
3. Swing Trading TradingView Indicators

Applicable Trading Instruments:

1. Forex Market TradingView Indicators
2. Cryptocurrency TradingView Indicators
3. Share Stocks TradingView Indicators

Expansion Triangle Indicator at a Glance
This advanced indicator instantly identifies the broadening formation pattern the moment it materializes. It then precisely draws the pattern on your chart using a combination of solid and dashed trendlines.
Beyond mere visualization, this trading tool generates precise entry and exit signals. These signals, represented by clear green and red arrows, appear upon the final interaction of the price trend with the pattern's boundary lines and the subsequent completion of the formation.

Generating a Buy Signal
Analysis Example: EUR/USD on the 15-minute timeframe.

1. The indicator automatically draws the expansion triangle pattern on the chart.
2. Following the successful completion of the pattern, a definitive buy signal is issued.
3. This signal represents a high-probability opportunity to enter a emerging uptrend.

> Expansion Triangle Indicator Performance in an Uptrend: Drawing a Broadening Triangle and Generating a Buy Signal

Generating a Sell Signal
Analysis Example: Bitcoin (BTC/USD) cryptocurrency chart.

1. The indicator clearly displays the structure of the expansion triangle pattern using prominent trendlines.
2. At the critical point of pattern completion, it issues a strong sell signal marked by a red arrow.

> Expansion Triangle Indicator Performance in a Downtrend: Analysis and Sell Signal

Configurable Expansion Triangle Indicator Settings
The indicator offers a range of adjustable parameters to fine-tune its performance to your specific trading strategy:
> Reviewing Adjustable Options in the Expansion Triangle Indicator
LOGIC SETTINGS:

1. Pivot Period: Defines the number of candles used to identify significant peaks and troughs for pattern construction.
2. Pattern Filter: Applies a structure filter to eliminate weak or invalid patterns, ensuring higher-quality signals.
3. Candle Confirmation: Ensures a signal is only generated upon the appearance of a valid reversal candle, adding an extra layer of confirmation.

ALERT SETTINGS:

1. Alert: Enable or disable audio/push notifications.
2. Alert Name: Allows you to define a custom name for the alert for easy identification.
3. Message Frequency: Choose how often you receive alert messages (e.g., once per bar close).
4. Show Alert Time by Time Zone: Set the alert time display to your preferred time zone, such as UTC.

Conclusion
The Expansion Triangle Indicator provides a significant edge by employing sophisticated wave structure analysis and customizable filters. It efficiently sifts through market noise to isolate valid broadening triangle patterns and pinpoint low-risk, high-probability entry points.
A key feature of this professional tool is its integrated alert system, which immediately notifies you the instant a new trading signal is generated, ensuring you never miss a potential opportunity.