Hikkake pattern market analizer

[sumana.m]

Hi

http://i61.tinypic.com/w1qs6p.jpg

can we have market analizer scanner for Hikkake pattern ?

[NinjaTrader_PatrickH]

Hello sumana.m,

Thank you for your post.

Unfortunately, I not aware of a pre-made Hikkake pattern indicator for use on the chart or Market Analyzer.

[Harry]

It is pretty easy to create an indicator that detects Hikkake pattern. But first you must specify the rules to define that pattern. I have followed your link and the pictures shown do not come with any rules. There are at least 30 to 50 different interpretations possible.

My understanding is that a Hikkake pattern is

-> an inside bar
-> followed by a breakout bar (higher high + higher low or alternatively lower low and lower high) that closes outside the range of the inside bar
-> followed by a reversal that traps the breakout traders

In any case it is not a 5 -bar pattern as shown on your picture. Please come back with a detailed set of rules.

Here are some links:

http://www.chesler.us/resources/articles/chesler0404.pdf

http://www.chesler.us/resources/articles/TechAnalyst_Nov04.pdf

http://thepatternsite.com/HikkakeBull.html

http://www.esignallearning.com/education/marketmaster/archive/2012/archive_index.aspx?date=041312

http://www.oxfordstrat.com/trading-strategies/hikkake-pattern/

[sumana.m]

it is an inside bar failure trading strategy. It waits for a break-out of an inside bar to fail. Then, Hikkake traders enter as the breakout traders are getting out of their positions.

http://www.tradingsetupsreview.com/4-day-trading-strategies-profit-trapped-traders/

[sumana.m]

It is pretty easy to create an indicator that detects Hikkake pattern. But first you must specify the rules to define that pattern. I have followed your link and the pictures shown do not come with any rules. There are at least 30 to 50 different interpretations possible.

My understanding is that a Hikkake pattern is

-> an inside bar
-> followed by a breakout bar (higher high + higher low or alternatively lower low and lower high) that closes outside the range of the inside bar
-> followed by a reversal that traps the breakout traders

In any case it is not a 5 -bar pattern as shown on your picture. Please come back with a detailed set of rules.

Here are some links:

http://www.chesler.us/resources/articles/chesler0404.pdf

http://www.chesler.us/resources/articles/TechAnalyst_Nov04.pdf

http://thepatternsite.com/HikkakeBull.html

http://www.esignallearning.com/education/marketmaster/archive/2012/archive_index.aspx?date=041312

http://www.oxfordstrat.com/trading-s...kkake-pattern/

mostly coded here will it need any modificaton (just a reference)

http://www.tradingsetupsreview.com/price-action-pattern-indicator-ninjatrader/